LOTBA president backs online betting regulation and opposes prohibition

Jesús Mariano Acevedo, president of the Buenos Aires city lottery LOTBA, defended the regulation of online betting and rejected proposals for a total ban. He argued that barring the legal market tends to worsen the problem of illegal gambling rather than resolve it.

The remarks come amid a debate in Argentina over the so-called "Lei Lula", a project presented in Buenos Aires province to ban online betting. Acevedo, whose body regulates the market in the city of Buenos Aires, said he disagrees with the initiative while acknowledging that it falls outside his jurisdiction. To support his position he pointed to Brazil, saying the first data show that illegal gambling has increased there.

Acevedo also addressed prediction markets such as Polymarket and said these platforms should follow the same rules as traditional betting operators. LOTBA reportedly detected irregular activity on Polymarket, which led to the first block of the platform in Latin America after a complaint to the prosecution unit FEJA, headed by Juan Rozas, and a subsequent court decision. The LOTBA president also voiced concern about markets that allow bets on sensitive events such as shootings and other crimes, and about risks linked to insider information. He said he is closely following the debate in the United States, especially any decisions the Supreme Court may take, because of the possible impact on other markets.

Acevedo said LOTBA has stepped up its enforcement since the start of his administration. According to the report, the body has closed more than 1,100 illegal platforms and reported more than 110 influencers for promoting this type of activity. LOTBA has begun using artificial intelligence to improve its detection mechanisms. Acevedo said the aim has evolved, so that LOTBA now seeks to identify the organisations behind these operations as well as take sites down. LOTBA seeks to replicate the British model and has already held a meeting with the UK regulator, with another meeting planned to deepen cooperation. The stated objective is to engage companies such as Meta and Google in blocking the advertising and promotion of illegal platforms.

On possible restrictions on advertising by legal operators, Acevedo acknowledged that stricter rules are possible. He warned, however, that any tightening must be accompanied by effective action against the illegal market. He identified the central risk as restrictions on authorised operators prompting users to migrate to platforms outside the regulatory framework.

The city of Buenos Aires currently has 11 authorised betting platforms. The cap was set under Acevedo's administration, as there was previously no ceiling on the number of licences. Acevedo said the segment keeps growing, with monthly increases, and is a relevant source of revenue for the city.