Buenos Aires online gambling license derby off to flying start

Nineteen online gambling operators have reportedly applied to receive one of seven licenses on offer in Argentina’s largest province Buenos Aires.

Last week, the Instituto Provincial de Lotería y Casinos (IPLyC) of Buenos Aires published the official rules of its online gambling licensing derby. The province approved its online legislation last month and the official deadline for submitting license applications is June 25.

A six-member committee has been appointed to score applicants on a variety of fronts, including each applicant’s approach to responsible gambling initiatives, anti-money laundering practices, the types of casino games and the number of in-play sports betting events they’re capable of offering.

Applications for the 15-year licenses must be accompanied by payment of ARS5.5m ($122k). The lucky recipients of Buenos Aires licenses will be required to pay ARS65m, with 40% upfront, another 40% due at the end of the first year of operations and the remainder at the end of year two. Licensees will also have to put up a guarantee of ARS130m to ensure there are funds to cover any involuntary implosions.