⚠️ Argentina🇦🇷: lawmakers advance online betting regulation

⚠️ Argentina🇦🇷: lawmakers advance online betting regulation

The proposed legislation aims to limit gambling advertising, strengthen protections against underage gambling, and impose new regulatory requirements on operators.

➡️ The initiative was developed with the participation of 150 lawmakers from the committees on Health, Addiction Prevention, Communications, and Criminal Law.

➡️ One of the key provisions of the bill is a complete ban on the advertising, promotion, and sponsorship of online casinos and sports betting operators. The restrictions would cover:

➖ Advertising on websites, television, social media, and outdoor banners.

➖ Campaigns involving celebrities and social media influencers.

➖ Sponsorships and branding of betting operators linked to teams, athletes, and sporting events.

➖ Display of betting brands during shows and concerts.

➖ Elimination of welcome bonuses and promotional offers during registration.

➡️ In terms of underage gambling prevention, operators would be required to implement mandatory biometric verification systems, robust identity and age verification procedures, and additional measures designed to prevent the circumvention of access restrictions.

➡️ Similar to Brazil🇧🇷, the proposal seeks to completely prohibit the use of credit cards for betting activities. Debit cards would be subject to daily limits defined directly by financial institutions. Payments through electronic wallets would only be allowed using available funds.

➡️ Restrictions for users: online gambling participation would be prohibited for employees and owners of gambling companies, athletes participating in events on which bets are placed, referees and judges, as well as individuals registered in self-exclusion programs.

➡️ Online casinos and betting platforms would also be required to comply with new regulatory standards, including obtaining official authorization and maintaining a physical presence within Argentina.

➡️ Penalties for non-compliance include blocking illegal websites, fines of up to 100,000 UVA units (138 967 USD), and prison sentences ranging from 3 to 10 years for individuals operating or facilitating illegal platforms.

➡️ The bill has already been approved by the Chamber of Deputies, although it still requires approval from the Senate.

#news #Argentina #gambling #betting

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