Buenos Aires publishes guidelines for sports betting and online casinos
Wednesday 26 de February 2020 / 13:26
⏱ 1 min read
(City of Buenos Aires).- In accordance with the resolutions of the Lottery of the City of Buenos Aires (LOTBA), the entity initiated the call for proposals for candidates who wish to operate online in the city. It will be a model with an unlimited number of licenses and operators will become "online gaming agencies" for five years with a renewable period of five years.
The rules of operation in the territory cover the modalities of online betting, such as casino, bingo, poker and betting on sporting and non-sporting events, among others. The number of licenses is not closed and, as in Colombia, each applicant who meets the relevant requirements must be able to obtain a license.
Initially, the license will exclusively cover mobile and online operations and will not include any form of retail offer. Interested applicants must begin the licensing process by submitting the relevant documents with LOTBA and paying an amount of US $ 30,000 to cover administrative expenses and an offer guarantee of US $ 2,000,000.
Applicants who meet the relevant requirements and obtain a permit must pay an annual license fee of US $ 100,000, plus 10% of net income.
EXPECTATION OF BEGINNING GAMES IN BUENOS AIRES
Operations are expected to begin in the second half of 2020, when the implementation plan is approved for each license holder and at least three permits are granted, in an attempt to avoid monopolistic practices.
In addition, operators must have the relevant laboratory certifications, so that the City Lottery opens a Registry of Certified Laboratories in order to guarantee the transparency of this business.
Gamblers must also be individualized and registered on each platform (the system does not allow anonymous bets). With regard to marketing and promotions, there are no initial limitations to offer bonuses, for example, but there will be a strict advertising scheme and responsible gambling standards will also be issued.
Categoría:Legislation
Tags: Sin tags
País: Argentina
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