Argentina May Legalize Online Gambling

BUENOS AIRES -(Dow Jones)- The Argentine government is working on plans to allow online gambling throughout the country, presidential Cabinet Chief Anibal Fernandez said Wednesday.

"We're working so that this will become law within two or three months," Fernandez said, adding that it could take notably longer and possibly up to two years.

Fernandez said the main aim behind the project is to combat illicit gambling that's already occurring.

Earlier this month people familiar with the government's plans said the government would use online gambling to help finance its recently acquired rights to broadcast soccer matches. Revenue from taxes on the activity could also help strengthen the government's fiscal accounts.

Fernandez neither denied nor confirmed that gambling could be used to finance soccer.

"That's another subject," he said in comments on the sidelines of a Council of the Americas conference.