Argentina May Legalize Online Sports Gambling

The Argentinian city of Buenos Aires is pushing to legalize and launch online sportsbetting as a means to generate revenue that has evaporated due to the Covid-19 pandemic.

The city uses traditional in-store sportsbetting to generate tax revenues and control an activity that goes on anyway, but with restrictions being put in place, these revenues have plummeted. Politicians in the city are therefore looking to push for online betting, where they could generate an estimated $6.8 million in tax revenues annually. This initial online sportsbook would be run by Casino de Puerto Madero.

Some politicians are pushing back on the attempt though, saying that retail operations will suffer and that the casino's ties with Cristobal Lopez will be an issue for integrity. Lopez is the former owner of the casino and has been accused of collusion and money laundering in the past.

Operators looking to offer online sportsbetting may have to pay an administrative tax of $30,000 and prove that they have a net worth of $25 million. They'll also have to prove that they've been involved in betting operations for at least two years.

The bill still has a way to go, but we're going to be following this story and will update readers as we learn more.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.

Comments

Post new comment

There are currently no comments on this page. Be the first!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.