Buenos Aires City releases implementation guidelines for sports betting and online casinos

The enforcement rules govern the operation within the Buenos Aires City territory of online gambling modalities such as casino, bingo, poker, and wagering on sporting and non-sporting events, among others. The number of licenses is not closed, and as it occurs for example in Colombia, every applicant who complies with the relevant requirements should be able to obtain a license.

The companies will operate as ‘online gaming agencies’, and will obtain a five-year permit that can be extended for another five-year period. Initially, the license will exclusively cover mobile and online operations and will not include any form of retail offers.

Interested applicants should begin the licensing process by filing the relevant documents with LOTBA and paying a USD 30,000 sum to cover administrative expenses and a bid guarantee of USD 2,000,000.

Those applicants who comply with the relevant requirements and obtain a permit will have to pay an annual license fee of USD 100,000, plus 10% of net collections.

Operations are estimated to begin in the second half of 2020 when the implementation plan of each license holder is approved, and at least three permits are granted, in an attempt to avoid monopolistic practices. Moreover, operators will have to hold the relevant lab certifications so the City Lottery will open a Register of Certified Labs aimed at guaranteeing the transparency of this business.

Bettors will also have to be individualized and registered on each platform (the system does not allow for anonymous wagers). As regards marketing and promotions, there are no initial limitations to offering bonuses, for instance but there will be an strict advertising scheme and Responsible gaming Standards will also be issued.

https://www.yogonet.com/international/noticias/2020/02/21/52441-buenos-aires-city-releases-implementation-guidelines-for-sports-betting-and-online-casinos