Santa Fe Province’s Senate approved a draft law dedicated to the regulation of iGaming and sportsbook activities. The bill was accepted without modifications, so local Argentinian gamblers are preparing to dive into the licit world of digital entertainment.
Legal Changes in the Wagering Sphere
The ratified initiative has a set of standards for developing and exploiting such projects:
- casino games;
- bookmaker platforms;
- sports-focused forecasts.
The rules are related to both solely internet activities and hybrid ones that include virtual representations.
The fresh regulations are set for overcoming 2020's Decree 1451. Back then, the ordinance approved the web amusement niche under the concept that it was only a modality of legalisation, existing in that period. However, the decision met with fierce opposition.
The new initiative includes some changes, such as:
- authorisation of sportsbooks;
- rising GGR taxes from 10% to 15%;
- containment to the organisations that obtain benefits.
Also, it was agreed to direct 50% of gambling-generated funds to programs for preventing addiction and boosting awareness of the issue.
This move emphasises a growing South American tendency to evolve and strengthen the gaming segment along with guaranteeing a secure environment for players. The progression in the field can also lead to improvements for businesses in terms of healthy competition, understandable regulation, increasing opportunities, etc.
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