Argentina is the industry leader when it comes to thoroughbred racing in South America. The country is the region’s most prominent representative in various international Grade 1 racing events, while its bred mares have produced some very renowned winners in recent years.
Top stallions from the country have been introduced across the Middle East and Europe and chosen to compete in renowned international competitions.
The country’s horse racing hub, Buenos Aires is home to three racetracks; San Isidro, which is home to the popular 1.5 mile G1 race Carlos Pellegrini held each December, La Plata, and Palermo, the most prominent racing venue in the country. Other notable venues include Estadio José Hernández, located in Jesus Maria, Hipodromo de Mendoza and Campo Argentino de Polo.
Hipódromo Argentino de Palermo has 120 race days and hosts around 1400 races each year. It holds races three days a week, with nine races each racing day. Prominent racing events include Gran Premio Nacional (Argentine Derby), Gran Premio Polla de Potrillos, and Gran Premio Selección among others.
Ardent racing fans and enthusiastic bettors flock to these events to watch their favourite horses in action and to cash in on the betting opportunities.
Given the wide number of races taking place in the country, it comes as no surprise that a substantial amount of money is bet on these events. If you want to be a part of the betting action in horse racing in Argentina, here is a brief guide to lead you in the right direction.
Betting practices in Argentina
Argentina has been rather open to most forms of gambling activities over the years. When it comes to sports betting, horse racing has been the sport of choice for the majority and has fostered a passion for gambling among the locals.
The first bets on horse racing were placed back in the 1880s. This was right after the Hipodromo Argentino de Palermo was established in 1876. Thousands of individuals flocked to the venue to place wagers on their favourite horses.
An organised form of betting was established with the implementation of a totaliser gambling system in 1979, giving locals a chance to bet on tracks. The welcome and relaxed approach to betting led to the advent of international bookies in the country, including many noticeable names.
A marked increase in gambling activity was observed with the rise of online gambling in the early 2000s.
While land-based betting operations are strictly regulated, online betting was subjected to a range of provincial regulations and licenses. However, with the passing of the gambling legislation in 2019, license holders were required to have a presence in the region, pay a 2% administrative fee to the local regulatory bodies, and a 15% tax on the gross gaming revenue.
How to bet on horse racing in Argentina
Presently, a number of international betting sites offer betting facilities in Argentina while adhering to the local norms and licensing requirements. When it comes to horse racing, individuals have access to various betting platforms. Numerous markets are offering a wide range of bet types for individuals to choose from.
The various sites that accept wagers from Argentinians include 188Bet, 888Sport, Ladbrokes, Betsson, Coral, Winner, and William Hill, among others. Most sites offer translation in Spanish to facilitate the bettors, while a few even offer Argentinian pesos as a mode of payment.
You can place bets on local and international racing events. You have several betting options to choose from, including the number at which a specific horse will finish the race, the race winner, the top three or the top six runners, etc.
Before placing a bet, gaining sufficient insight into the racetrack, the competing horses, and the respective jockeys is a good idea.
Are winnings from online betting in Argentina taxable?
A federal online gambling tax is applied as an indirect tax on online betting, which applies to income derived from gambling made in Argentina through any online platform, regardless of the betting service location. As per law, 5% tax is applied, and if foreign persons are involved, the rate is increased to 10%.