Argentina’s Congress is considering a new reform bill that deserves the credit of one of the most consequential regulatory changes in the country’s gambling industry.
Over 25% of high school students disclosed that they gambled with real money last year, most of them doing it online. Smartphones and payment apps have made betting very easy, especially for the youth. The legislation being drafted recognizes gambling addiction as a health problem rather than just a crime, which will be a big change in the government's attitude.
Illegal gambling operators are the main focus of this law. A person found running an unlicensed platform could be imprisoned for up to 6 years. Even those who help these enterprises indirectly, such as payment processors, advertisers and technology providers, will be considered as offenders. So, the bill aims at the whole network that facilitates their existence.
Advertising of unlicensed platforms will be banned in all media, including social networks. Operators with a license will be required to drastically reduce their advertising and refrain, in particular, from targeting minors as well as from showing gambling as a way to financial success or social status. The use of tobacco and alcohol to make the connection will be prohibited as well.
The draft law will allow public institutions to have more say as well. Telecom authorities would be given the duty to block websites involved in illegal gambling. The central bank would be responsible for cutting off financial channels of unlicensed activities, while banks would have to verify the users’ age before doing transactions for gambling.
On the health side, the bill involves conducting gambling awareness and school education programs, refining data collection and providing more effective treatments.
Properly implemented, Argentina can become a benchmark for gambling regulation for the whole region.
Editor-in-chief and creator Cole Smith of casinocurrencies.com, has extensive experience with casino payment systems, The site was created to provide an honest and trustworthy resource for online gambling players.