Super Group-owned online gambling firm, Betway has received approval to operate in the recently regulated Argentinian market of Buenos Aires, after agreeing to a deal with its partner Bingo Pilar.
Under the terms of the license Betway will offer three of their core products to the Buenos Aires, which include sports betting, casino and esports.
Head of Buenos Aires City for Betway, Jaun Pablo Barahona, revealed: “It’s a great achievement for the Betway brand to be granted a licence in Ciudad Autónoma de Buenos Aires, a region where sport is a huge passion.
“Our products are universally popular, so it’s an exciting time for us as we showcase our proposition to the people of Buenos Aires.”
Meanwhile, CEO of Betway, Anthony Werkman, added: “It’s been a long time in planning, so we’re obviously very happy for the Betway brand to be going live in the city of Buenos Aires.
“Latin America is already a successful territory for us, so we’re very pleased to be able to offer our products to the passionate sports fans in Argentina as we continue our growth in the continent.”
Swift expansion from Betway
A company that has been aggressively increasing its global footprint in the online gambling industry, Betway certainly will be an operator to keep an eye on over the next couple of years.
Having launched in a number of key markets over the last two years, the operator reported a strong end to 2021, with revenue increasing by 45 per cent to €1.32bn.
With more countries likely identified for launch, its entry into Buenos Aires, promises that it can really make its mark, with this market viewed as potentially very lucrative across most of its core offerings.
The license was granted by the city’s regulator – Loteria de la Ciudad de Buenos Aires – LOTBA and under specific legislation of the country, any foreign operator is required to partner with a local land-based company.
While the market in Buenos Aires is still relatively young, the fact that a firm like Betway has launched here, clearly indicates that it could well be a gamble that is worth taking.
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