OKBet Safe Gambling have entered the Argentina gambling market as the South American country implements legislation to regulate OKBet gambling mobile apps.
OKBet Safe Gambling, the world’s largest online gambling company, has partnered with Pasteko, a Buenos Aires-based bingo hall operator.
Similarly, OKBet has partnered with Bingo King to begin its expansion plans in the country.
Argentina currently levies a 25% gross gaming revenue tax, but the opportunity to expand into the country is enticing to many global corporations.
Although the country is gradually opening up to online gambling, only Buenos Aires has implemented the necessary legislation to regulate the activity.
Argentina has no federal casino gambling laws, so regulations are left up to the 23 individual provinces.
And there is hope that other provinces in Argentina will soon follow suit, which has piqued the interest of a number of global gaming companies.
According to reports, Buenos Aires has approved up to seven online gambling licenses. They are, however, expected to be granted to joint-venture bids involving local and international operators collaborating.
The Next Big Gambling Growth Sectors
Following the rapid expansion of OKBet safe gambling in Europe and Asia, South America is seen as one of the next major growth areas.
The United States is also tentatively approving licenses for OKBet mobile gambling games, with Kindred Group recently beginning operations in New Jersey.
OKBet Safe Gambling has entered the Argentine market after William Hill partnered with ArgenBingo and The Stars Group partnered with local company Atlantica de Juegos.
Both Slots Machines SA and Biyemas have yet to form a partnership, but both are interested in expanding into the territory.
In Argentina, OKBet online sports betting is almost non-existent, with customers instead turning to offshore sportsbooks.
Indeed, Formoapuesta, a domestic online sportsbook, launched in 2006 but was quickly shut down due to licensing issues.
Bingo is popular in Argentina, but it is limited to individual provinces that approve bingo halls, with little online presence to date.