The Buenos Aires Province Institute of Lottery and Casinos (IPLyC) reported that the land-based and online gaming sector contributed ARS 89,314,354,289 to the government and public agencies of the province of Buenos Aires in the first half of the year. This figure, equivalent to $96.6 million at the official exchange rate, represents an inter-annual increase of 93%.
According to local media La Tecla, the transfers come from the collection generated through the 4,350 official agencies, 45 bingo halls, 10 casinos, five racetracks, and six online gaming platforms active in the country.
According to local regulations, of the total amount contributed, 19.2% was transferred to the Ministry of Community Development; 18.44% to General Revenues; 16.37% to the Education Fund; 14.71% to the municipalities of the province; 13.78% to the Ministry of Security; and 13.07% to the Department of Culture and Education.
Concerning online gaming, Provincial Law 15,079 stipulates that 8% of the proceeds are to be transferred to the municipalities and the General Revenue. Of such legislation, the operation of up to seven licenses in the province was established, of which there are six in operation: Betano, BetWarrior, Bet365, BPlay, Betsson, and SportsBet.
The regulation also states that virtual platform operators pay a 10% royalty and a 15% gross income tax to the Province of Buenos Aires. In addition, they contribute to the National State through the payment of the Gaming Tax, VAT, and Income Tax when applicable.
Furthermore, the latest report shows that in the province of Buenos Aires a total of 2,304,677 accounts were created. However, it must be taken into account that each person does not necessarily have a unique account, with the possibility to create a user on more than one platform.
Finally, the IPLyC of Buenos Aires warned that “illegal online gambling is one of the major concerns of the Government of Buenos Aires since 80% of the bets in the country are made on illegal sites and this is where minors have access to them.”
Original article: https://www.yogonet.com/international/noticias/2024/07/24/73254-gaming-contributes-over-95m-to-the-province-of-buenos-aires-in-the-first-half-of-2024
