The number of Argentinians living below the poverty line has surged to over 50% in the past year, contributing to a troubling economic climate marked by rising unemployment and inflation. Amidst this financial instability, online gambling has emerged as a popular avenue for teenagers and young adults in Argentina to earn quick money. This trend has gained momentum, particularly among those aged 25 to 29, with over 26% of respondents in a recent survey admitting to active participation in online gambling.
A 2024 study involving 9,000 young Argentinians aged 15 to 29 revealed that an estimated 40% had gambled recently. Teenage boys are more inclined to place bets online, with 34% participating compared to 13% of girls. The primary motivation driving this surge in online gambling is the urgent need for fast cash, a factor cited by 67% of respondents. Economic instability, fueled by spiraling inflation and burdensome foreign debt, has only accelerated the growth of online betting platforms.
In an unusual move, the Argentine government has legalized stock market investments for teenagers as young as 13. Virtual bingo sessions are commonplace in certain neighborhoods, with wide participation among families. Online gambling platforms have also become significant sponsors for leading Argentinian football teams, including Club Atlético Independiente and Boca Juniors.
Despite the concerns surrounding this burgeoning trend, President Javier Milei opposes regulating online gambling, emphasizing parental responsibility over state intervention. A legislative bill aimed at regulating online gambling passed Argentina's Chamber of Deputies in November but now faces significant challenges in the Senate.
For many teenagers in Argentina, online gambling has become a major source of income, with some earning up to $40 per night. However, a survey conducted by the ombudsman revealed that two out of every three Argentinian pesos given to teens by their parents for daily expenses are gambled away instead.
"Almost all of my friends from school are involved in online gambling in one way or another," said Carla G, highlighting the pervasive nature of this phenomenon among the youth.
Online gambling serves as a space where young Argentinians can experiment with their identities and aspirations. Erreguerena, an expert on the subject, described this environment as a "non-place" where boys can embody an aspirational alter ego.
"It’s like the drug trade. It forces you to bring friends and family into this system, even though you know it’s dangerous," remarked Mayra, drawing a parallel between online gambling and illicit activities.
Erreguerena further explained that for many teenagers, there is little distinction between playing video games and engaging with betting platforms.
"Both activities are part of the same endless scrolling experience," he noted.
The limited job opportunities available to young Argentinians exacerbate the situation. Erreguerena pointed out that traditional jobs, such as working as rural laborers or village workers, offer extremely low wages that feel akin to forced labor.
"A night out can cost $40, and gathering crates of vegetables won’t get them there," he added, stressing the financial disparity faced by the youth.
The normalization of virtual bingo in certain areas underscores the widespread acceptance of gambling activities.
"Virtual bingo is so widespread in the neighborhood that most families participate, making it feel normal," Carla observed.
Carla also detailed how cashiers collect money from bettors and earn commissions for each new player they recruit.
"This is a responsibility for families, not the state," argued Lilia Lemoine, reinforcing President Milei's stance on parental accountability.
