Multiple sports betting licenses to be awarded in Province of Santa Fe
Law 14,427, which approves the regulation of online gambling and the bidding documents for the public tender has been published in the Official Gazette of Santa Fe in Argentina..
Law 14,427, which approves the regulation of online gambling and the bidding documents for the public tender has been published in the Official Gazette of Santa Fe in Argentina.
Multiple licensees will be permitted, each with a 10-year term. The system provides for the awarding of licenses for the implementation, operation, and management of digital sports betting platforms. Each licensee will pay a minimum fee of 15% of their monthly gross profit.
The funds collected will go to the Caja de Asistencia Social, strengthening the financing of public policies.
According to Law 14.235, its regulatory decree, and the bidding terms, bets will be allowed on any existing or future sporting competition of any kind, provided it has the authorization of the enforcing authority.
The bidding does not set a limit on the number of licenses. As many licenses will be granted as there are qualified bids, as long as they meet the technical, legal, and economic requirements set by the Province.
The procedure will consist of a single stage, with administrative, technical, and economic evaluation, conducted by an Evaluation Commission.
Foreign companies can only participate through Temporary Unions with local firms. Additionally, high minimum net worth requirements are established, ranging from US 42 million for national individuals to US 120 million for international companies, depending on the type of participation, along with strict controls over the source of funds and anti-money laundering measures.
Platforms will be required to comply with responsible gambling policies, including self-exclusion mechanisms, betting limits, clear information about risks, and user support channels, in line with the Provincial Law on the Prevention and Comprehensive Management of Gambling Addiction.
Awarded companies will have up to 180 days to implement the platforms. The contract will last for 10 years, with the possibility of an extension of up to 24 months.
Throughout the contract’s duration, the Province will have unrestricted access to the gaming systems to verify bets, prizes, and payment of fees.
In December the Legislature of the province of Santa Fe passed the law that allows the provincial government, through the Santa Fe Lottery, to begin the process of launching online sports betting.
The law’s main objective is to regulate the development and operation of online gambling and sports betting through digital platforms, including the potential for national and international public bids for its implementation. It aims to ensure public order, eliminate illegal gambling, promote responsible gaming, and minimize gambling related harm.
Once launched only bettors within the province of Santa Fe will be allowed to take part. However, there is a possibility for future agreements with other jurisdictions to allow players to join the Santa Fe platform.
The Social Assistance Fund – Lottery of Santa Fe will be the enforcement authority and “may develop its own online platform or call for bids to select licensees through nationwide and international public bidding,” according to the new law.
