The Santa Fe government will auction, on March 3, licenses for the implementation, operation, and exploitation of online sports betting in the province, authorized by the Santa Fe Lottery in Argentina.
Bids can be submitted until March 2 at the Sub-Secretariat of Contracts and Asset Management. The offers will be unveiled on March 3 at 12 PM.
At the end of last year, the Legislature approved—during extraordinary sessions—Law 14.427, which regulates online gaming, as well as the bidding documents outlining the public tender.
Regarding the concession period, the maximum will be 10 years, with a possible two-year extension at the government’s discretion. Foreign companies can only participate through Temporary Unions with local firms.
According to Law 14.235, its regulatory decree, and the bidding documents, online sports betting includes any existing or future sports competition of any nature, as long as it is authorized by the regulatory authority.
When it comes to horse racing, online betting on horse races will be allowed under the new regulations. However any horse races that are part of officially sanctioned programs will not fall under this online betting framework; instead, those races will continue to be governed by their own established rules and procedures.
The funds collected will go to the Caja de Asistencia Social, strengthening the financing of public policies.
The bidding does not set a limit on the number of licenses. As many licenses will be granted as there are qualified bids, as long as they meet the technical, legal, and economic requirements set by the Province.
The procedure will consist of a single stage, with administrative, technical, and economic evaluation, conducted by an Evaluation Commission.
The law’s main objective is to regulate the development and operation of online gambling and sports betting through digital platforms, including the potential for national and international public bids for its implementation. It aims to ensure public order, eliminate illegal gambling, promote responsible gaming, and minimize gambling related harm.
Once launched only bettors within the province of Santa Fe will be allowed to take part. However, there is a possibility for future agreements with other jurisdictions to allow players to join the Santa Fe platform.
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The Santa Fe government will auction, on March 3, licenses for the implementation, operation, and exploitation of online sports betting in the province, authorized by the Santa Fe Lottery in Argentina. Bids can be submitted until March 2 at the Sub-Secretariat of Contracts and Asset Management. The offers will be unveiled on March 3 at…
The post Province of Santa Fe sports betting tender to take place in March appeared first on G3 Newswire.