Buenos Aries to allow regulated Online Casino & Sports Betting

Online Casino Spain

As we have said many time in previous opinion pieces on our site, the only logical way to move forward with online gambling is to regulate it. There is of course a strong case to be made against over regulation which appears to be where the UK is heading but that is another subject for another day.

Meanwhile other countries and jurisdictions are starting to open up to online gambling having realized that the positive outweighs the negative. The latest jurisdiction that looks set to allow regulated online casino and sports betting operation is the city Buenos Aries in the country of Argentina.

A report has just been released by Loteria de la Ciudad de Buenos Aires or LOTBA for short which is the agency in charge of this sector in the city.

In the report the LOTBA states that they will be accepting applications from companies interested in operating in the space as long as these companies meet some conditions.

Conditions include having at least 2 years experience in operating in the sector, having a turnover of more than 1.5 million USD a year and a net worth of not less than 25 million USD.

Steps will also be taking to protect gamblers with funds having to be held in dedicated accounts at city banks with said accounts to be controlled by the LOTBA.

This actually seems like a pretty good way to go about things, player protection is clearly the most important aspects of regulating the online casino industry and this way player funds should nearly always be secure.

We will of course keep an eye on the situation in Buenos Aries and see how things progress, the LOTBA have stated that they would like to go live with the first operators before the end of 2020.

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