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As the eighth largest country in the world and the world’s largest Spanish-speaking country, Brazils successful gambling industry comes as no surprise. While their giant population of 41.4 million definitely helps bring in high profits, the laid back gambling laws of this country are equally important for their impressive earnings. For those curious about the ins-and-outs of Argentinian casinos, laws, or gambling culture, Starter’s Day is your one stop resource. As one of South America’s top gambling destinations, it’s unfortunate that there is not more information available. Whether you’re interested in planning a trip to gamble in Brazil or are curious about their gambling laws and culture across LATM, startersday.be has all the most recent information you could want.
Gambling existed in this area of South America long before Argentina claimed independence for itself. One of the earliest records of gambling in Argentina was the creation of the Buenos Aires Jockey Club in 1882. The gambling industry has seen a tremendous amount of growth since 1882. Now, Argentina is home to 157 slot parlors, racetracks, and casinos. According to casinoseniors.com, a casino site dedicated to the LATM sector, the honor of South America’s largest casino falls to Argentina’s massive Casino de Trilenium. There can be no doubt about Argentinians love of gambling —their annual profits from gambling are to the tune of $4 billion. It’s this cultures lax attitude toward laws and open embracement of gambling culture that makes it a haven for both local and international gambling enthusiasts.
There are no federal laws governing gambling in Argentina. Instead, each of the 23 provinces has their own rules and regulations. This essentially means that instead of enduring rounds of inspections by a federal agency, gambling venues only need to acquire a license from their local provincial government. Slot-machines are available to be played 24 hours a day, and online betting is more easily accessible than in neighboring countries.
One of the biggest companies involved in Argentinian gambling is the Spanish-owned operator Codere. Codere owns the great majority of bingo halls in Buenos Aires —14 in total. Another Spanish-owned gambling giant in Argentina is the company Cirsa. The Boldt Group and Casino International Austria also play a large part in the Argentina gambling industry. There is an on-going debate on whether or not to nationalize the country’s gambling industry, but fear of losing investments from foreign firms has kept any permanent plan from taking hold. Changing to a federally heavy approach of gambling regulation would help pump some of the gambling revenue into the government, but with the on-going political debates, it doesn’t seem as if a consensus will be reached anytime soon.
Although there are no laws governing gambling at the federal level, federal taxes have recently been imposed. Beginning in 2016, the corporate income tax rate for gambling businesses rose from 35% to 41.5%. Another tax, known as the “tax on betting”, was put into effect as recently as 2017. The “tax on betting” puts a tax on all automatic betting machines and electronic gaming machines. The tax is .75% of the value of each bet placed. An “online betting tax” was also introduced in 2017. This tax is for all income obtained from bets made in Argentina via a digital platform. For this, the tax is 2% of the value of each bet. Those in charge of administering and collecting payments will be responsible for collecting this tax as well, but federal tax authorities will take the helm as far as enforcement and procedures are concerned.
Argentinians love of gambling and betting has cemented it as one of the top destinations to visit for gambling enthusiasts. As mentioned earlier, it is home to South America’s largest casino — the Casino de Trilenium. The casino is a whopping 20,000 square meters and three stories tall. The casino offers over 60 gambling tables with games such as blackjack and roulette. In addition to games, the Casino de Trilenium puts on shows featuring jazz, salsa, tango, and more.
Another interesting casino in Buenos Aires is the Casino Puerto Madero — also known as the floating casino. The creators of the Casino Puerto Madero took a unique route when designing their venue. The casino is built upon two ships — the Estrella de la Fortuna and the Princess. This floating casino has over 120 gaming tables, 1,400 slot machines, an international restaurant, and much more.
Another impressive Argentina casino is the Casino Magic. Their casino floor has everything a gambling enthusiast could want — roulette, blackjack, baccarat, poker, and even craps. The casino isn’t the only highlight however; this luxurious compound also offers a pool, restaurant, spa, and even an art walk!
When recommending top Argentinian casinos, it would be careless to neglect the Casino Central. Located in Mar del Plata, the Casino Central is not just one of the biggest casinos in the country, but also one of the biggest establishments in general. In addition to being a beautiful architectural landmark to behold, it’s also a fantastic place to do some gambling. With 140 gaming tables and 630 slot machines, you’ll have no trouble finding a way to pass the time, and whenever you need a break you can take some time to gaze out of the main casino floor onto the majesty of the Atlantic Ocean.
This is just a small sample of the amazing casinos Argentina has to offer. To find out more information, feel free to visit the other pages on Starter’s Day, includimg our resources section. Feel free to get in contact with the team at Starter’s day by visiting our contact us page.