Following the recent launch of online gambling in the Argentinian province of Buenos Aires, a number of leading global brands have since been granted licences to operate in the country’s capital city.
The latest one to receive approval – UK-owned company Bet365, will provide both its online sportsbook and casino services via its dedicated Argentinian domain, that will serve Buenos Aires and further jurisdictional provinces.
As is necessary for foreign operators under Argentine gambling law, Bet365 has local partners, with licences granted via the Provincial Institute of Lottery and Casinos, plus the city regulator Lotería de la Ciudad.
Years in the planning
Make no mistake, this has been something that the Denise Coates-led business has been planning for a number of years, with this being a market that was first identified in 2019.
Signalling their intentions, they partnered with the local land-based Pasteko SA operator, with the entire approval process taking over two years.
Upon news of the agreement, a statement from Bet365 revealed: “We are delighted to announce the launch of a dedicated website for customers residing in Ciudad Autónoma de Buenos Aires and Provincia de Buenos Aires.
“In a region with such intense passion for sport, we are excited to provide an unrivalled sports betting experience, with a key focus on both localised and international markets.”
There is no doubting the potential of the market in Argentina, particularly Buenos Aires, which has already shown signs that it will thrive, purely based on the amount of operators that have received approval.
Football club sponsorship a possibility?
Once Bet365 becomes established in Buenos Aires, the next natural step could well be increasing their presence and awareness in the local community. A common strategy for this is in forging commercial relationships with football clubs, which in England and Europe is normal for gambling companies.
However, if this is identified as a way forward for the Stoke-on-Trent based brand, then urgency is key. In Argentina, there are only really two major football clubs – these being River Plate and Boca Juniors and no doubt, competition will be fierce.
It is good news for football clubs, who now, after the approval of online gambling in the country, have unlocked a potentially lucrative revenue stream. Operators queue up to sponsor football clubs across Europe and their Argentinian counterparts could soon see their balance sheets boosted considerably.
Additional revenue for football clubs from gambling companies can then be used to increase facilities such as stadiums in order to attract more fans. As a result, ticket prices can be raised as part of the investment strategy, better players can be attracted and help to secure lucrative television deals.
In addition, the revenue that the country would get from taxes that gambling companies are required to pay will help to regenerate local areas which can be a boost for the economy as this will mean the city can also raise prices.
For Bet365 though, the sky’s the limit as far as the Argentinian market (and even the wider South American markets) are concerned.