Central Bank of Argentina Introduces New Economic Policies which Include Gambling Restrictions

The Central Bank of Argentina has introduced new economic policies, which include gambling-related restrictions for citizens using their credit and debit cards. The notice issued by the Central Bank sets forth that credit or debit card issuers must block five specific transactions, two of which are directly linked to gambling abroad.

Gambling transactions made via credit card with the purpose of purchasing US dollars have given rise to “casino dollar.” Argentine citizens were able to purchase chips in casinos overseas with their credit cards and then exchange them for US dollars.

In that way, they were able to buy foreign currency at the official exchange rate, and as a result, many Argentinians began traveling to Chile, Paraguay, and Uruguay to buy “cheaper dollars” and then sell them at a premium in the local illegal market.

It is worth noting that the restrictions imposed on these transactions are also applicable to online gambling, so Argentine gamblers are now much more limited in their gambling operations via the Internet.