Peru Officially Regulates Online Gambling Market
On February 9th, Peru became the third South American country to officially legislate online gambling, with the implementation of Law No. 31557, joining Colombia and Argentina in regulating this growing market.
As a result of this legislation, the Ministry of Foreign Trade and Tourism (Mincetur) has become the government body responsible for controlling and regulating all online gambling activity. This includes issuing official gaming licenses and sanctioning platforms that operate outside the established regulations.
First Authorized Sites
Following the implementation of the law, Mincetur granted a one-month period for sites already operating in the country to apply for a license. Examples of these include Betano, considered one of the leading betting platforms, and La Polla del Fútbol, a newer entrant to the market. Other local and international operators were also eligible to apply for permits.
To date, seven sports betting platforms have been approved. While each has a parent company, their domains are:
- Betano
- Betara
- Retabet
- Masterbets365
- Doradobet
- Teapuesto
- Lapolladelfutbol
In addition, nine registrations correspond to casino games. It’s important to note that these are the official cases already studied, analyzed, and approved by Mincetur. Over time, this number is expected to increase, including both local and international companies.
Benefits of the Law
The implementation of the law creates a promising environment with advantages for all stakeholders. Companies can compete in a fair and transparent market. Users will find secure and reliable sites, backed by the government, which can help resolve issues or conflicts if necessary.
One of the main advantages is the revenue generated from taxes on online gambling. This legislation established a new 12% tax on the gross income of these platforms. This tax only affects the sites, not the users.
Thanks to the law, the Peruvian state is expected to collect around 162 million soles per year. This amount will be used for various purposes, such as:
- 20% for the public treasury.
- 20% for the Ministry of Health in the area of mental health.
- 40% for control and supervision by Mincetur, and tourism promotion.
- 20% for the Peruvian Sports Institute, primarily for preparation for the Paris Olympic Games.
Financially, the use of cryptocurrencies as payment methods for deposits or withdrawals has been completely prohibited.
Another key aspect of the law is Responsible Gambling. All authorized betting platforms must adhere to strict measures to protect individuals from gambling-related problems, safeguard vulnerable groups, and protect minors.
Sites must take steps to prevent anyone under the age of 18 from accessing gambling games. They must also offer control tools for players, such as time limits, deposit limits, and self-exclusion options. Furthermore, they must provide contact information for support organizations.
Authorization Requests
During the first 30 days after the official implementation of the law, Mincetur received more than 145 authorization requests. This includes not only operators themselves, but also service providers linked to the gambling industry, and authorized certification laboratories.
While many betting platforms have embraced the legalization of the market and are continuing to operate in Peru under the new law, other sites have closed their operations as a result.
These platforms, which had been operating freely prior to the legislation, notified their customers of the cessation of activities and encouraged them to withdraw their funds as quickly as possible. Some of these sites, such as Tonybet, officially stated that the closure was a consequence of the regulatory change in the country. However, other betting platforms, such as Betfair or Betmotion, did not provide an explanation and simply closed their doors.
Stay ahead of the game in the licensed betting world – get the latest insights at LicensedBettingSites.com.
