Legal sports bets generate less than 0K
Plans to launch online sports betting in Argentina have been shelved.
The company that would have operated the revamped version of the game Prode has bailed on the project, saying “conditions are not right.” According to G3 Newswire, the Argentine Football Association must now return $40 million, which secured its right to run a new AFA tournament featuring 30 teams from throughout the country.
Opposition to the plan came from two quarters: church leaders and the government. President of the Episcopal Committee Jorge Lozano urged lawmakers earlier this year to “preserve the integrity of football.”
Critics say online sports betting would lead to money laundering, corruption and an increase in problem gambling. According to some reports, even Pope Francis said online sports betting would not be a good idea for the country.
Legal sports betting game in Argentina is limited to a small number of local interactive betting sites, the Newswire reported. Argentina Prode currently posts revenues of less than $100,000 per year.
