Regarding racing thoroughbreds in South America, Argentina is the market leader.
While its bred mares have recently produced several extremely known winners, the nation is the region’s most prominent representative in several international Grade 1 racing competitions. Top stallions from the nation have been selected to compete in prestigious international contests and introduced around the Middle East and Europe.
It is unsurprising that a sum of money is wagered on these events, given the variety of races held nationwide.
Horse racing betting in Argentina: A brief history
Horse racing has a rich history in Argentina, and its legalization has played a crucial role in shaping the industry in the country. Horse racing is the sport that was introduced to Argentina in the early 19th century as it was influenced by the British settler who brought their equestrian tradition with them.
The Jockey Club, the country of Argentina’s first recognized horse racing organization, was founded in Buenos Aires in 1882. The Jockey Club significantly aided the nation’s growth and promotion of horse racing. The sport grew in popularity over time, drawing a devoted following and assisting in expanding the gambling business.
Legalization of Horse Racing Betting in Argentina
The evolution of horse racing betting laws in Argentinaoccurred at the start of the 20th century. The Ley N° 5809, popularly referred to as the “Ley del Turf” (Turf Law), was passed by the Argentine government in 1908. By creating a legal framework for horse racing and betting, this law made it possible to control and structure the sector.
When you take a look at the impact of horse racing betting on the Argentinian economy, you will know it is vast. It built recognizable racetracks, provided a regulated environment, and brought in money for the government. Horse racing betting is still a common type of gambling in Argentina, and online platforms have made it even easier to access, assuring its survival and expansion in the nation’s gambling market.