Buenos Aires, Argentina, has today given a new sign to residents that the city is poised for online gambling and betting after Loteria de la Ciudad, The Queen of El Plata’s gambling regulator and state lottery provider, published gaming plans on its website.
Reportedly, the plans include details that the Loteria de la Ciudad will begin vetting gambling providers who are keen to start offering casino gaming and sports betting in the city at the end of 2020.
At present, online gambling in Argentina is not well regulated or licensed, but the city of Buenos Aires is neither part of Buenos Aires Province nor the Province’s capital; rather, it is an autonomous district.
Loteria de la Ciudad is proposing the legalisation of online gambling and sports betting in the autonomous district with an unlimited number of providers being allowed to offer a variety of sports and games to wager on.
To show an expressions of interest in becoming a gambling provider in Buenos Aires, operators are required to be an up-front fee to the regulator along with showing business history of at least two years. In addition, firm’s need to show evidence that they have a yearly revenue of around 1.5 million Euro.
Licenses that are to be issued would be for an initial 5 year period with a view to extend after the term.
Although the proposals are restricted to the city of Buenos Aires, reports in Argentina suggest that once approved, may extend to other parts of the South Atlantic Ocean bordering nation.