We have covered many of the recently discussed issues in the UK and the US and generally the English-speaking world, but this time we’re bringing you news from the Spanish-speaking world. Yes, the English-speaking part of the world is our primary interest, and there has been a lot going on lately, like theUKGC decision to suspend Addison Global operating licence and thesports betting initiative that was passed in Washington, but interesting things have been going on elsewhere as well.
There is a lot of potential in South America and these markets are slowly opening. Latest developments in the city of Buenos Aires are definitely a positive signal for the industry.
On the other hand, in Spain, new rules have been introduced and this will certainly have an effect on gambling advertising. It is estimated that about 80% of all gambling ads that are currently displayed will be prohibited.
Online gambling licences to be issued in Buenos Aires
In Argentina, local authorities have the possibility to pass local legislation regarding numerous issues, including online gambling. The city lottery published a complete plan according to which operators will be vetted and eventually permitted to start offering their services to the residents of Buenos Aires and the surrounding areas.
It should be noted that the operators will only be allowed to offer their services in the Buenos Aires area, but many are hopeful that if the initiative is successful, online gambling will be regulated at a national level, so that people all over the country will be permitted to gamble online.
Instituto Provincial de Lotería y Casinos is the name of the organisation that is in charge of overseeing the activities of the gambling operators. The IPLyC is also responsible for issuing online gambling licences.
Under the current proposal, there will not be a limit on the number of online gaming agencies that can be established in the Buenos Aires areas. While there isn’t a limit on the number of operators that can be established, but there will be certain criteria that operators will have to meet before being permitted to offer their services.
Companies will need to pay about $30K in advance and the company’s annual revenue would have to be at least $1.6 million. On top of that, the net worth of said operators would have to be in the amount of $25 million.
Restrictions on online gambling advertising in Spain
Spain’s Minister of Consumer Affairs has recently unveiled a plan which includes a number of restrictions that will apply to online gambling operators. It has been reported that the text of the new act has already been sent to the European Commission. A total of 100 new restrictions will be introduced, so things will be a lot more difficult for operators in Spain.
The minister has already stated that about 80% of all online gambling ads will be prohibited. The decision to introduce new restrictions is expected to have a positive effect on public health and that is the justification for the new decision.
A royal decree that is supposed to regulate this area has not yet been published, but this is expected to happen pretty soon. Sponsorship of sports teams by gambling operators will still be permitted.
Moreover, all online bonuses offered to Spanish players will be limited to €100. We are yet to see the impact of these restrictions.