Argentina Launches Comprehensive Update to Its Games of Chance Regulatory Framework

Additionally, consulting with a local attorney or expert in Argentine gambling laws can provide valuable guidance and insight into the complex legal landscape of gambling in Argentina. Argentina has a vibrant casino scene, with over 80 casinos spread across the country. Some of the most popular casinos in Argentina include the Casino de Tigre, Casino Buenos Aires, and Casino Club Santa Rosa. These casinos offer a variety of games, such as slot machines, blackjack, roulette, poker, and baccarat. In addition to casinos, Argentina also has a thriving horse racing industry and offers other forms of gambling, such as lottery games and bingo. Argentina’s iGaming sector has undergone significant transformations, especially with the decentralization of gambling regulations.

The Malta Gaming Authority (MGA) has built astrong reputation for providing a well-structured regulatory environment that balances operator flexibility with player protection. A Malta license allows operators to access European markets and demonstrates compliance with EU regulations on anti-money laundering (AML) and responsible gaming. The country’s dynamic gaming market, evolving regulations, and strong player base present significant growth potential. Success depends on understanding legal requirements, meticulous financial planning, and a commitment to responsible gaming.

The company strategy must also include backup plans in case things go wrong, which is quite important. This part is meant to see if the applicant is ready for possible changes in the market, economic downturns, or other operational problems. It makes sure they have strong plans in place to reduce risks and defend the interests of players. This local banking presence is also good for the economy of the host province because it encourages people to do business there.

As for the indirect tax on online bets and wagers (‘Tax’ or ‘Indirect Tax’), on 7 July 2022, AFIP released additional second-level regulations in relation to the Indirect Tax on Online Betting. Notwithstanding the foregoing, it will likely require incorporating a local entity and compliance with experience and financial requirements. Digital Wallets and CryptocurrenciesIt is vital to offer a wide choice of payment options in any jurisdiction you are about to operate.

• To stay compliant and ahead of the competition, companies must keep an eye on things and be ready to adapt.
• The casino and sportsbetting business in Latin America has been on the rise lately.
• Start with thorough market research to understand competition, player demographics, and trends.
• At this stage the market is thriving, showing material month-to-month increases both in the City of Buenos Aires and the Province of Buenos Aires.

Support for Fair Play and Secure Gaming

In addition, players’ winnings may also be subject to income tax if they are professional players or e-sports athletes. There is no official demand to acquire a license to start operating in the state. However, the Contract, which is actually the form of the license, should be obtained.

In Argentina, the licencing system says that licences are only good for a certain amount of time and don’t automatically renew. The operator loses the right to operate when the contract ends and must compete in a new tender. The risk architecture includes the user protection system, which must be technically included into the platform. Verification happens before a licence is issued and continues while the business is running. Regulators carefully look at all financial and operational information, focusing on making sure that payments are guaranteed, transactions are clear, and client money are not misused.

The following is an example of how online gambling works in certain jurisdictions in Argentina and its financial structure. Section 301 bis of the Argentine National Criminal Code has a substantial impact on the offering of all Relevant Products, since any offering without a licence granted by an entity with regulatory competence may result in criminal prosecution. Unlike gaming and gambling, the regulation of crypto assets per se falls under the competence of the Argentine National Congress, where a bill has been recently passed. As an example, in the City of Buenos Aires, online gaming agency permits will have a duration of five years, with the possibility of being extended for another five years.

This will protect players’ money and the general integrity of the local gaming ecosystem. In Argentina, the rules governing gambling include a company’s ability to stay in business, its operating resources, and its promises to give players their money back. Applicants must show that they are financially secure, have a stable business strategy, and a way to protect the interests of users. Because of this, gambling activities in Argentina can only be licenced if they follow the rules of each jurisdiction, which take into consideration decentralized governance, local restrictions, and competitive tender conditions.

Regulatory Authority

However, the legislation is already proposed, and it is expected that in the near future, the Brazilian market will be opened to new opportunities and operators. All state lotteries are members of the Association of Argentine State Lotteries (ALEA). ALEA is a member of both the World Lottery Association and the Iberoamerican Corporation of Lotteries and State Bets. ALEA works as an industry association but has no regulatory and enforcement competence in connection with gambling and gaming.

This joint venture is often alegal necessity and helps navigate market preferences and regulations. The licensing process includes submitting business plans, technical documentation, and financial statements. Authorities conduct rigorous background checks to ensure compliance with anti-money laundering and consumer protection laws. Since regulations vary by province, requirements depend on the chosen location. In Buenos Aires, for example, the local lottery authority (LOTBA) issues licenses.

Buenos Aires actively prosecutes overseas operators and even deems entities licensed in other provinces as offshore. Legal frameworks primarily reside at the local level, covering criminal, labor, and foreign exchange regulations. The first step typically involves establishing a legal entity in the chosen jurisdiction.

Unlike other jurisdictions, in Argentina only operators are subject to granting of a licence. Some jurisdictions require suppliers, components and certifying laboratories to register with the regulators19 with substantial less scrutiny than in a licensing process. Also, some jurisdictions require that electronic gaming machines and other terminals are certified as compliant with international standards. The City of Buenos Aires has adopted active measures against offshore gambling operators, seeking to block their activity within that jurisdiction.

Argentina is organised under a federal model in which the regulatory competence over the Relevant Products is held by local jurisdictions. There are 23 provinces with regulatory competence over the Relevant Products and the City of Buenos Aires. The Argentine National Congress retains competence over criminal regulations, including AML-CFT provisions. It also has a shared competence with provincial jurisdictions and the City of Buenos Aires over taxation. Argentina’s online gaming industry has experienced robust growth in recent years, spurred by a dynamic market environment and evolving regulatory frameworks. As the country’s provinces gradually modernize their gambling regulations, more operators are seizing the opportunity to establish legal, fully compliant online casinos.

Future applicants must be financially prepared as the licensing process is expensive, complex, and time-consuming. Applicants need to be patient as they need to attend in-person meetings with authorities, cover a share capital, and submit an extensive set of documents. In general, this online gambling license has a robust and transparent regulatory framework. Operators must ensure compliance with the high AML and KYC standards, as well as undergo software audits.

Jackpots, Handcuffs & Policy Flamethrowers: This Week’s Global Gambling Mayhem

Different places have different rules for the platform, payment methods, player identity systems, and reporting. Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops. Dive into the details of these pivotal regulations to understand their impact on players, operators, and the broader Argentine economy. The exact share capital requirement depends on the game type and ranges from 40,000 EUR online casino curacao legal to 100,000 EUR per license.

Notwithstanding this approach, prosecution of offshore gaming operators has proven to be very difficult. Enforcement proceedings generally include IP blocking and orders to payment services to refrain from processing gaming-related transactions. Taking into consideration the political organisation of Argentina, online gaming operators based in a different province are regarded as offshore operators. In general, all jurisdictions have adopted an aggressive approach towards the unauthorised land-based offering of Relevant Products. The general rule for gambling and gaming in Argentina is that they are prohibited unless expressly authorised by a competent authority. This rule was set forth in local regulations and, as of December 2016, is included in the Argentine National Criminal Code.