Online gaming

The Peruvian President signs the entry into force of the law on online games

After a long period of trials and tribulations and barely a month after receiving congressional approval, Pery’s government finally enacted Law 31,557. The legislation that will regulate the operation of casino games online and sports betting activities in the country was signed by President Pedro Castillo Terrones on August 12. A day later, the legislation was published in the Legal Norma Bulletin of the Official Gazette El Peruano. .

Now, the Ministry of Foreign Trade and Tourism has 120 working days to decide all the details.

The bill received overwhelming support from Congress

In July, the idea of ​​online gambling and the sports betting market in Peru gained even more traction thanks to an overwhelming vote received from members of the country’s Congress. The measure was closely supervised by Roberto Sanchez, of Foreign Trade and Tourism of Peru. He was driven by a desire to help the country regain many missed opportunities to raise millions of dollars in revenue.

Last Friday, government officials held an official ceremony where the Peruvian president finally signed the legislation into law. The new gaming law will enter into force two months after the publication of the supreme decree which will approve its regulation. The decree must be published within 120 working days from the day the regulation will be created.

The Ministry of Foreign Trade and Tourism (Mincetur) will act as the gaming administrative authority that will oversee the online gaming market. Mincetur will be authorized to issue authorizations to operators of casinos and sports betting, as well as to regulate and supervise their activities.

The issue of betting by minors and problem gamblers

The new gambling law does not allow minors to participate in casino games and remote sports. Compulsive gamblers are also prohibited from engaging in these activities. To do this, gambling operators will use the Peruvian Registry of Persons Banned from Casino Games and Slot Machines, listing all people who have been banned from any form of gambling.

Remote sports betting sites will not be permitted within 492 feet of schools or religious temples.

The Ministry of Transport and Communications will also be responsible for carrying out the necessary actions to block the IP addresses, URLs, web pages and applications of operators who attempt to illegally provide their services to players in the country without having the consent of Mincetur.

Operators could face a 12% tax applied to their net income once the framework is in place. The price is identical to that applied to casinos and slot machines in the country. Also, 40% of the tax collected will reach the public treasury, 40% will be used to develop tourism, and the remaining 20% ​​will be used to promote a series of programs put in place by the government. Operators who fail to comply with the new regulations can be fined between 1 and 200 special tax units equal to $1,181 per unit, have their license revoked, face permanent disqualification, or be barred from offering their services for up to a decade.

In early August, FBMDS entered the Peruvian market by launching its gaming content with local operator Olimpo.bet.