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In Argentina, as in other Latin American countries, gambling and betting is legal throughout the territory. This runs for both in-person and online casinos. Unlike the regulatory provisions in other Latin American and European countries, in Argentina, each province has the power to legislate the game in discretion.
This means that the law can change significantly from one province to another, without violating the fundamental bases of the constitution and the maximum authority that regulates the game at the national level, that is, the FIU - Financial Information Unit. This body, which has become very famous in recent years, is responsible for ensuring security and fighting money laundering.
Gaming legislation and regulatory authorities in Argentina
As we anticipated in the previous section, the game is legal in Argentina either in face-to-face casinos https://www.casinoslots.store/, such as the Palermo Racecourse, as well as in online casinos. Regardless of whether your base is in the country or not, they can be accessed as long as they have the endorsement of the Argentine state, the FIU and the local, provincial or city government, where you have a registered address.
According to resolution FIU 17/2003: Cover-up and laundering of assets of criminal origin through the Central Bank of the Argentine Republic that you should be informed of any suspicious transaction report and, in the case of casinos, the monthly report of prizes equal to or greater than AR $ 10,000. Of course, the amount has been small compared to the value of the peso at the beginning of the 21st century. Even so, this serves to control the flow of money in casinos and protect users.
Argentina is the paradise of online gambling in Latin America. Argentine online casinos are the most attractive in the market by having a very open regulatory framework that allows the proliferation of both online and online betting houses. Despite the great popularity that exists in Argentina, in 2008 the state promoted a law to prohibit gambling throughout the country which had great protests against dismissing the idea quickly.
The controls have to be strict and are in charge of the FIU who is the governmental institution that must go to start the registration process of an operable casino in Argentina. Following the legal channels, it must have the approval of the Central Bank of the Argentine Republic in addition to the FIU and the AFIP for tax matters to finally operate online driving
Do we have to pay taxes on the profits obtained?
In 2017, the Federal Public Revenue Administration, AFIP, put into effect an indirect tax on online gambling. This was taxed with an aliquot of 2 percent for each bet placed on any online platform. In this particular case, the credit and debit cards used to place bets retain that tax on the total bets placed.
However, this varies according to each province and the city of Buenos Aires that have the power to regulate the game internally to discretion. This causes the gray area to become a little larger, since taxes as well as the general provisions will vary from border to border, not necessarily always being the same.
It could also happen that according to the earnings the fee that each province designates for gross income should be paid. Payment of this tax is made annually, although it is possible to make monthly and bimonthly advances. You can refer directly to the law on the page of the Argentine government.
In other countries, outside of Latin America, as is the case in the United States, punters must pay almost 50% of their profits to the state. But this only applies if the earnings exceed US $ 1,200. In addition, the tax is deducted at the time so the money is always given after the taxes to the bettor.
In other European countries, the issue is much more and better regulated with respect to tax laws. In the United Kingdom, for example, 15% is paid out of the total winnings the bettor generates. In France, it is much more intricate varying according to the winnings and the type of game where up to 100,000 EUR is charged 6% but from 14 million euros the state collects 83.5%.
As we have already announced throughout this report, there are two outstanding data on Argentine casinos. On the one hand it is that the country is one of the most coveted and most players in South America, and on the other hand, is that each provincial state and the autonomous city of Buenos Aires, has the power to regulate the game as provided Your government This should never contradict national laws and does not exempt them from informing the FIU or paying the relevant taxes to the AFIP.
This means that a government has sufficient autonomy to favor or harm online and physical gambling and casinos as it sees fit through established political channels. As an example is article 37 of the Magna Carta of the Province of Buenos Aires, which was sanctioned in '94, stating that “the province reserves, as a non-delegated right to the Federal State, the administration of all casinos and games rooms "
As we already mentioned, there are differences between the provinces and the capital, but all the governorates benefit greatly owning lotteries, bingos and of course casinos. But we should highlight a province for the amount of daily bets that are made within its limits without mentioning the amount of casinos it owns, which is the Province of Buenos Aires.
The Buenosairean government knows that for a long time it will obtain very important profits from the great cake that represent the AR $ 40,000 million annual profits only by gambling. As the journalist Ramón Indart and Federico Poore mention in their book The power of the game in 2008 there were 9,500 physical slots in total generating almost 75% of the total earnings in the province without having a high development at the time of online games.
What the future holds
We already anticipate that in 2017 the central government of the Argentine Republic sought to impose a 2% rate on the activity generated in physical casinos and onlines https://www.casinoslots.store/ but this has been difficult to implement since the regulation is the power of the provinces and the federal capital. Therefore, each provincial and Buenos Aires legislature will decide any change unilaterally without the need to propose a debate with the Nation.
As it was learned at the beginning of the year 2018, the Province of Buenos Aires decided to carry out a reform inside doors closing three casinos and a bingo and bidding the handling of 3,860 slots, which represent almost 40% of the total slots that exist at regional level
Comparison with other markets
In Argentina there are around seventy face-to-face casinos and more than a dozen online operators, most of which are concentrated in the provinces of Buenos Aires, Córdoba and Chubut. Among all, they add a total of 70,000 slots in addition to bingos, roulette tables, blackjack and bets in general. On average, 105.6 billion Argentine pesos are spent per year on the game, leaving unusable profits. The country is among the biggest collectors for the game in the South American continent but not the best. If we compare with Chile we find that there, in addition to also having an important tradition of the game and good legal provisions, its annual earnings in 2017 reached approximately 60,000 million dollars. That is, much higher than Argentina in monetary matters but not in the amount of processing per game. This difference of ganacais must be understood more than anything by the devaluation of the Argentine peso.
Some striking facts about the market
While we were investigating all the relevant topics of this report in detail and in detail, we found some interesting and color data that allow us to understand the gambling and casino market in Argentina much better.
The first casino in Argentina was built in 1912 in the Buenos Aires town of Tigre known as the Tigre Club. This majestic operator was intended to be used as a social center promoting social development and economic progress. At that time, immigrant waves of European refugees reached our shores and therefore, it is understandable that the game was used to generate greater profits.
Gambling and gambling are extremely popular in Argentina. As we mentioned earlier, if a province with just 556,000 people like Chubut has 9 casinos, almost as many as the great Province of Buenos Aires with a population of 16 million, it is because the game leaves great profits.
To be able to play in any province of the country and the federal capital you must be of legal age, over eighteen years of age, both to enter and bet in a face-to-face casino or play in an online one.
In total, approximately 100,000 million pesos were spent on face-to-face and online casinos in Argentina last year. Of the total, almost 50% belong to the bet in the Province of Buenos Aires with 40,000 million pesos. This is counting the barely 11 casinos that the province has including the Provincial of the seaside resort of Mar del Plata and the Trilenium Casino in the Tigre game, to name just a few of the few but important establishments that generate significant profits per year
In conclusion, betting operators in Argentina are a good amount and have large facilities to house the millions of national visitors and tourists who receive every year from different parts of the world. Throughout the national territory, approximately 70 houses operate, adding provinces and federal capital, which holds the controversial casino of Puerto Madero.
Although there are still some aspects to improve and review of the Argentine legislation regarding the tax issue, it is likely that it does not change much and is based a lot on the evolution of the business in each province as it happened in Santa Fe where they wanted to raise the rate by This precise reason. Ultimately, with each government having the right to legislate the game to discretion, hardly a national law exists.
This is undoubtedly the strongest point of games and bookmakers on Argentine soil. There are approximately 70 physical casinos throughout the country, with the majority concentrated in the provinces of Buenos Aires, Córdoba and Chubut, (the latter having the lowest population density of all with 2.61 inhabitants / km² and a population of 556,000 inhabitants).
This demonstrates the high development that the industry has throughout the country with more than 100 years of history since the first betting house was founded in 1912 on the banks of the Tigre Delta in the north of the province of Buenos Aires.
Mar del Plata Central Casino
One of the most emblematic casinos of the Argentine Republic and without a doubt a historical monument of great refinement. The Central was one of the first major and largest houses in the country. The main hall has a privileged view towards the sea with a total of 630 slot machines and 140 tables of blackjack, baccarat, craps and roulette, among others. During the high summer season, the casino receives an average of 12,000 visits per night with peaks that can reach up to 18,000 on the weekends of January. In addition to the casino, it offers great comfort and luxury to its visitors with a 4-star hotel with 66 rooms and the famous Auditorium Astor Piazzolla, home of the city's Film Festival
The design was commissioned to one of the most prolific architects of the time, Alejandro Bustillo, also known for his previous work as the Central Bank, the Continental Hotel, the Llao Llao hotel in the city of Bariloche. But perhaps the most prolific and famous work is the great national urban landmark that erected in the city of Rosario in 1944, the monument to the flag. For the design of the hotel it was based on the style of the famous casino “Art deco” of the French city of Biarritz which is also facing the sea. As a curiosity, if desired, a ship could sail from that French city and anchor in Mar del Plata.
Buenos Aires Casino
One of the casinos that caused the most controversy at the time. Towards the end of the nineties, National Lottery decided to commission a casino in Puerto Madero despite the opposition of the Head of Government of the city of Buenos Aires and other officials both Buenos Aires and nationals. The curiosity of this establishment has always been that it is a ship located in the north dock. In total it has 12 game tables and more than 1,400 slots which can be played in pesos or dollars, as well as a restaurant, a 24-hour food court, a shopping center and an exclusive poker room and another for High Rollers
Towards October 1999, the Casino of Buenos Aires opened with a mixed area without tables or games but amenities for punters such as restaurants and recreation areas giving way to the ship where the real action is located. This ship arrived in Buenos Aires in 1998 from the American city of New Orleans, also known for its passion for gambling. This ship was built in 1995 and operated until 2005 when the agreement signed at the National State Lottery and the Game Institute of the city of Buenos Aires was closed and declared unconstitutional. Soon after it was put into operation again despite having to pay a fine to the state of 200,000 Argentine pesos per day until it was updated with the papers.