Conajzar, the gambling regulator of Paraguay, has launched a tender for the exclusive rights to operate a national sports betting franchise.
The decision was disclosed to local media via an advertising campaign sanctioned by Conajzar, informing the public and businesses of tender proceedings.
The campaign revealed that Conajzar would announce competing suitors on 31 October as it seeks to find a partner to operate a sports betting franchise across all Paraguayan provinces.
Tender provisions saw Conajzar outline that the winning company/consortium must establish a domiciled presence in the Capital of Asunción.
Competing suitors for the exclusive sports betting tender must guarantee payment of 60m ₲uaraní ($10,000) to the treasury account of Paraguay’s National Development Trust.
Paraguay’s regulatory framework for gambling is held under Law-1016 which was established in 1996.
Though updated in 2015 to include legislative interpretations for online gambling services, Paraguayan law maintains a limited oversight for sports betting activities.
Law-1016 defines sports betting as “activities in which an amount of money is risked on the results of a to-be-determined sporting event, with an uncertain outcome and unrelated to the parties involved”.
However mirroring lotteries, arcade halls and gambling machines, the law cites that the exploitation of sports betting must be “granted by a public tender offering”.
Meanwhile, recent amendments of Paraguay’s gambling law and criminal code have focused on supporting Conajzar’s efforts to eradicate illegal gambling venues and the illicit sale of imported gambling machines to Paraguayan leisure and retail merchants.