Argentina Online Gambling Market Overview, 2028

Argentina Online Gambling Market Overview, 2028

Argentina has the largest online gambling market in South America. Argentina has a high rate of internet penetration, with approximately 70% of the population having internet access. As a result, online gambling sites now have a large potential customer base. Online gambling in Argentina is quite diverse like in many other gambling-friendly countries, is quite diverse. Poker and bingo are examples of casino games; the betting industry also allows you to bet on horse races and other sports. Fantasy betting is another option, and lotteries are another profitable gambling sector. In Argentina, mobile usage is also rapidly increasing, with a large proportion of the population using smartphones and tablets to access the internet. This has made it easier for people to access online gambling sites while on the go, thereby increasing convenience. Argentina has a vibrant sporting culture, with soccer reigning supreme. Online sports betting have been legal in the country for some time, and the population has a strong interest in sports betting. Argentina has a limited number of land-based casinos and gambling establishments, particularly outside of major cities such as Buenos Aires. This has created a demand for online gambling options, particularly among those who live in rural or small-town areas.

According to the research report, “Argentina Online Gambling Market Overview, 2028” published by Bonafide Research, the market will add by USD 2.41 Billion in the upcoming period, 2022–2028. Buenos Aires is the most active city in the online gambling industry. The government has taken a step forward by legalising the online casino industry in Argentina. The country's government has approved online gambling since the beginning of 2020. Buenos Aires, Argentina's largest and most profitable gambling province, serves as a unique centre of such entertainment. Furthermore, 2021 may be regarded as the most active licencing year for online operators. Argentina has a relatively low online gambling tax rate, with operators paying a 2% gross revenue tax on sports betting and a 10% tax on other forms of online gambling. Argentina is seeing an increase in the use of cryptocurrencies for online gambling, with some operators accepting Bitcoin and other digital currencies as payment. The Argentine government is investigating the possibility of using online gambling to generate tax revenue for the country. This could be used to fund social programmes and infrastructure projects, which policymakers might find appealing.

Based on gaming type the market is divided into sports betting, casinos, poker, bingo, lottery and others. Among the sport betting is the most famous online gambling among the people of Argentina and has obtained the maximum market share in online gambling market of Argentina. Online sports betting is the most popular type of online gambling in Argentina right now. Soccer is the country's most popular sport, and many people enjoy betting on soccer matches and tournaments. Argentine online gamblers enjoy online slots and table games in addition to sports betting. Online slots, in particular, have grown in popularity in recent years, with many operators offering a diverse selection of slot games with varying themes and features. Soccer (or football, as it is known in Argentina) is by far Argentina's most popular sport for online gambling. The country has an extensive football culture. The Argentine football league (known as the Primera División) is one of the most prestigious in South America and draws a lot of interest from sports bettors. Boca Juniors, River Plate, and Independiente are among the best-known clubs in the country. Basketball, tennis, and horse racing are among the other popular sports for online gambling in Argentina, in addition to soccer. Soccer, on the other hand, remains the country's most popular sport for online gambling, with many operators offering a wide range of soccer betting options, including individual matches, tournaments, and futures bets.

According to the report, the market is divided into device type mobile devices (phones and tablets) and desktop. Among them the mobile devices are expected to dominate significantly in the online gambling market of Argentina with the growing popularity of smartphones and tablets, many people are opting to gamble on their mobile devices, allowing them to access online gambling platforms from anywhere and at any time. In fact, according to findings conducted by the Buenos Aires Province Lottery, mobile devices account for approximately 70% of all online sports betting in Argentina. This trend is expected to continue as more people in Argentina gain access to mobile devices and online gambling companies improve their mobile offerings. However, a significant proportion of online gamblers in Argentina continue to use desktop and laptop computers, particularly for more complex games like online poker or for those who prefer a larger screen experience.
Online gambling is legal in Argentina, but the regulations and rules that govern the industry vary by province. In general, the Argentine Federal Authority of Gaming (AFA) regulates online gambling in Argentina. The AFA is in charge of licencing and regulating online gambling operators. To operate legally in the country, online gambling operators must be licenced by the AFA. The application and review process is rigorous, and operators must demonstrate that they meet strict standards in areas such as security, responsible gambling, and fairness. In Argentina, the legal gambling age is 18 years old, and online gambling operators must verify the age of their customers to ensure compliance with this requirement.

Recent Developments:
• Betsson acquires a local operator: In 2021, the Swedish online gambling operator Betsson announced that it had acquired a majority stake in the Argentine online gambling company Inkabet. This acquisition is expected to give Betsson a foothold in the rapidly growing online gambling market in Argentina.
• Flutter Entertainment expands its presence: Flutter Entertainment, which owns several major online gambling brands including Betfair and FanDuel, has been expanding its presence in Argentina in recent years. In 2020, Flutter announced that it had acquired a 99.99% stake in the Argentine online gambling company Apuestas Online.
• Local companies launch new products: Several local Argentine companies have also been active in the online gambling market, with some launching new products and services to cater to the growing demand. For example, in 2021 the Buenos Aires-based company Grupo Slots launched a new online sports betting platform called Jugadon.
• Regulatory changes: In 2019, the Argentine government passed new regulations to allow for online gambling in the city of Buenos Aires. This has led to a number of local and international companies applying for licenses to operate in the city, and is expected to drive further growth in the online gambling market in Argentina.

Considered in this report
• Geography: Argentina
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Argentina Online Gambling market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Game Type:
• Sports Betting
• Casinos
• Poker
• Bingo
• Lottery
• Others

By Distribution Channel:
• Mobile Devices (Phones and Tablets)
• Desktop

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Online Gambling industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.