Peru Requires Online Gambling Firms to Obtain Operating Licenses
The Ministry of Foreign Trade and Tourism (Mincetur) has announced that companies offering online gaming and sports betting services must apply for an operating license. The application process is entirely online.
Juan Carlos Mathews, head of Mincetur, emphasized that this step is crucial for these companies to legally offer their services in Peru and to provide security for users.
The deadline for submitting applications is from Tuesday, February 13th, to Wednesday, March 13th.
“This is important news: implementing Law N° 31557 and its regulations will regulate online gaming and sports betting, generating a regulated economic movement with tax payments. Above all, it will provide security for bettors, promote responsible gaming, and formalize the activity,” Mathews stated.
Mincetur is currently running a “white march” – a pre-registration phase – where certification laboratories, companies offering online games and sports betting, and service providers can enter their data. This will ensure the smooth operation of Mincetur’s IT system when the official application period begins on February 13th.
According to the minister, 115 companies are currently offering online gaming and sports betting services in Peru, with 86 being foreign-based and 29 being Peruvian.
Companies that meet the requirements and are authorized by Mincetur will be subject to taxes starting April 1st.
Mincetur estimates that the Peruvian government could collect approximately S/ 162 million annually through this regulation. These funds will be invested in tourism reactivation, tourism infrastructure projects, sports promotion, and mental health programs. The new regulations will not affect bets or prize payouts.
Penalties for Non-Compliance
Companies offering online gaming and sports betting services without the required operating license will face a penalty of no less than 150 Tax Units (UIT), equivalent to S/ 772,500.
Furthermore, these companies may face criminal charges and be banned from operating in this sector.
Key Aspects of the Law
The law regulating online gaming and sports betting designates Mincetur as the national administrative authority responsible for regulating, authorizing, revoking, supervising, and penalizing online gaming and sports betting activities.
The law clearly states that only individuals over 18 years of age, whether Peruvian or foreign nationals, who are registered on the authorized online gaming or sports betting platforms can participate in these activities.
Physical sports betting locations can be situated in exclusive establishments or in businesses with other primary activities.
The new law stipulates that players must pay for their bets using cash, credit cards, debit cards, or other payment methods, excluding cryptocurrencies.
Winnings can be collected through the player’s chosen payment method or via an account in their name at a financial institution supervised by the Superintendence of Banking, Insurance and AFP (SBS).
Only sporting events that are part of national or international sports associations, federations, or leagues can be subject to sports betting.
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