Argentina: Betting Trends & Opportunities
18 November 2019 / Other
Argentina is one of those countries where athletes are worshipped as gods. This is especially true for football, but we shouldn’t take Argentina’s success in other sports lightly either. The country has been one of the superpowers in basketball as well, and they also have a couple of great tennis players.
Needless to say, the citizens of Argentina are equally passionate about sports betting, making their country very lucrative for various betting operators.
Is Sports Betting Legal in Argentina?
Ever since the 90s, the gambling industry has been thriving in the country, bringing more than $4 billion annually to its budget from the taxes. Online casinos and sportsbooks have also been available for a long time, but their legality depends on the province.
Given the size of this Latin American country and the population living there, it comes as no surprise that Argentinian iGaming jurisdictions haven’t still managed to regulate this form of gambling on a state level. Therefore, you can bet legally in Argentina if you happen to be in the part of the country where this type of activity is legalized.
What Does the Licensing Process Look Like?
Argentina has an official gambling commission called The Provincial Institute of Lottery and Casinos (The Instituto Provincial de Lotería y Casinos Sociedad del Estado) (State Managed) and offers four legal licenses.
Therefore, if you want to apply for a sports betting license, you need to keep in touch with individual provinces which all have separate bodies that regulate the market in their jurisdictions. The problem is that the licensing process can get somewhat difficult, as Argentina still has to fix numerous issues in order to improve regulations.
For example, many of these provincial regulators don’t offer any kind of player protection, meaning that many punters from Argentina feel that it’s safer to place bets on offshore sportsbooks rather than the local ones.
Things Are Looking Good
Regulators in Argentina are well aware that they are losing the battle against offshore casinos and sportsbooks, and that’s why they are pushing forward the idea of regulating online gambling on the federal level. That way, the main gaming commission will have more power and more control over the market. The only way to stay relevant on the market in Argentina is for all provinces to join forces into one regulatory body.
Their efforts have proved futile so far, but that’s another good reason why many officials are insisting on speeding things up. It’s only a matter of time before Argentina regulates the online gambling market on the federal level and improves the gambling industry.
What Drives the Argentinian Sports Betting Market?
Despite the inability to regulate the market, Argentina still generates millions of dollars through taxes imposed on gambling. Argentinians have always shared an amazing passion for all sports, so it’s hardly a surprise that betting is one of their favorite pastimes.
Just like in Brazil (and pretty much all the South American countries), people in Argentina are completely mad about football (or soccer). In fact, one of the best players ever in this sport is Argentinian — Diego Armando Maradona. Moreover, the current Argentinian national team features several football superstars, including Lionel Messi who is the biggest pretender to the throne of the Greatest of All Time.
Moreover, the residents of Argentina love watching club football, including their own Superliga Argentina where legendary clubs such as River Plate and Boca Juniors are often the main reason why people place bets.
Conclusion: Argentina Has Huge Potential
As you can see, punters in Argentina love betting, and football is definitely one of the sports that generate the greatest revenue from bets. However, the country faces a struggle when it comes to regulating online casinos and sportsbooks, as it currently lacks strong federal legislation that could improve the state of affairs.
Despite all the entangled uncertainty, Argentina is still a huge country with millions of people who make up the sports betting market. With such power in their hands, it is only a matter of time before the officials are going to sort things out and allow the Argentinian landscape to flourish further, paving the way for more opportunities.