Legal sports betting has slowly but surely become one of the largest and fastest growing markets in the world – Argentina is no exception.
Online sports betting is currently among the most active industries in Argentinawhich means that the legal aspect of this market involves many regulations and laws that need to be addressed and made more accessible to end users like you.
This is exactly the purpose of this article, so make sure you read it to the end to avoid any legal issues, as these can seriously ruin your sports betting experience.
But before we dive into a more detailed approach to this topic, let’s cover the basics first.
The basics of laws and regulations for Argentine sports betting
Much like the case in the United States, which does this through individual states, Argentina also splits sports betting regulations in individual provinces. Translated into simple terms, this basically means that players may find regulated betting operations in certain geo-locations – the capital city of Buenos Aires, for example – while some other provinces may not be subject to these laws and therefore have no regulated bets.
Provinces of Argentie which authorize sports betting, whether on March Madness Support or using a platform like BetUSare regulated and authorized via the Lottery from City of Buenos Aires. The good thing about online sports betting is that it can work in all Argentine provinces, thus allowing sports bettors to access online sports betting in all Argentine provinces.
If a company wants to operate a bookmaker, they should know that there is no cap on the number of licenses granted to them. But, to obtain the proper licenses, these companies must meet certain requirements (a minimum of 20) as part of the application process.
According to the tax law of 2019, once the necessary licenses have been obtained, the business is legally allowed to operate and must pay 25% to the provincial tax authority. The law also states that to keep track of all licensed operators in the Argentine sports betting market, the government must also open a Register of online gambling licenses.
So who is allowed to legally use legal sports betting in Argentina?
Since sports betting regulations in Argentina may differ depending on the city you are in, instead of state by state, it is best to find out about these rules depending on the city you are in at the moment.
Many cities in Argentina allow regulated sports betting to visitors and residents as long as they are of legal age, i.e. 18 or older, but it’s always a good idea to double-check as some books are only accessible in their region. Regulated books will not accept bets from customers who move outside their regulated area.
This is where online betting sites come into play as these platforms offer a solution to this problem as they have sports betting accessible from all Argentine provinces. Since Argentinian law does not prohibit international sports betting, these types of books are allowed in their own markets and are therefore able to operate legally throughout Argentina.
What are the most popular sports in the sports betting markets in Argentina?
It’s no surprise that football is the number one sport here. Football is by far the most popular sport for betting on events. For example, Lionel Messi – one of the best and greatest players in the history of the Argentine national team – is the subject of a huge amount of betting.
This means that the football season is also by far the busiest time for all legal sports betting operators in Argentina, while the country’s government stands to earn millions of dollars in profits from football-based betting alone. Basically, football is to Argentinian bettors what football is to US-based bettors..
Besides football, Argentinian bettors also prefer basketball as the second most popular sport.
Where does sports betting revenue go in Argentina?
The Argentinian government receives revenue from sports betting. The government achieves this through taxes, taking 25% of each bet. Of this 25%, 15% goes to the government in the form of general income tax. Eight percent of that 25 percent is allocated based on the activity that generated the revenue. The remaining two percent goes to the government in the form of license fees. Each municipality that hosts a bookmaker collects 10% of each of these license fees.
Buenos Aires officials have not yet disclosed where that tax revenue will go. However, we can say with great certainty that if they follow models that other countries are using, that money will most likely go towards improving the country’s education system and infrastructure. Overall, we can say that the reach of sports betting in Argentina is still somewhat limited. Yet, we must also point out that the advocates are encouraging the country to adopt and agree on a legal and universal platform for sports betting that would cover the entire country.
Such a unified platform would undoubtedly create a significant revenue stream for Argentina as a whole and help the legal authorities to create a unified law for sports betting in Argentina that every online bettor could easily understand.
What are the best sports betting sites in Argentina?
Some Argentine provinces offer sports betting sites where residents can bet legally. However, only residents can access these betting sites and create accounts for them. In other words, you can only bet on these websites if you are local to that province.
Some Argentinian sportsbooks available online in Argentina are also popular in the United States. These sports bets include MyBookie, Bovada, BetNow, XBet and SportsBetting. All these sportsbooks mentioned are top rated, reputable and top notch. Moreover, they are not only popular in Argentina, but all over the world. More importantly, you can place your bets on either of these websites.
It is more or less that. We hope you have found our guide useful and that you have a better and more in-depth knowledge of sports betting regulations in Argentina.
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