Buenos Aires to offer sports betting and iGaming licenses

[The Buzz]

Nearly a year after legalizing online gambling and sports betting, regulations have been approved in Buenos Aires to establish the criteria for obtaining licenses for online betting.
From iGaming Business:

The Loteria de la Ciudad (LOTBA), which regulates gambling in the city of Buenos Aires, has proposed establishing a number of ‘online gaming agencies’, which may offer sports betting, slots, lottery and various casino table games.

While there is no limit on the number of licences, operators must have total sales revenue over ARS$100m and have been in business for at least two years. Operators may not have been convicted of offering illegal gambling in Argentina and may not be the owner of a retail betting agency or gambling halls in the City.

Licensees must pay a USD$30,000 licence processing fee and a fixed annual licence fee of USD$100,000 as well as a USD$2m “compliance guarantee” as a form of insurance. LOTBA will collect taxes of 10% of gaming revenue.

LOTBA also said that further regulations relating to marketing may be published in the future.

Read more here: https://www.igamingbusiness.com/news...nsing-criteria