Peruvian government presented a bill to regulate games of chance and online betting

Among the measures included is the obligation for online gaming companies to be duly incorporated in Peru. And you must request a license from the General Directorate of Casino Games and Slot Machines.

Any company that attempts to offer online gambling or betting without proper authorization will be banned. The Government will take the measures it deems appropriate to prevent access to citizens. For example, blocking applications, IP addresses or URLs in Peruvian territory.

Another important point included in the text refers to the taxes that operators must pay. It will be extended that it would be 12% on net profits. In addition, it will be mandatory to keep 500 Tax Units in deposit (2.3 million soles in 2022). These amounts are intended to guarantee the payment of prizes to users, possible penalties and taxes.

Now, all that remains is for MINCETUR to issue the corresponding regulation within a period not exceeding 90 business days for the law to come into force.

Need and expectations of regulation
At the moment, companies that offer online gambling and betting are out of the country. Most are based in Malta, Gibraltar or Curaçao. And this causes all the money they collect to go outside of Peru.

The entry into force of this new law will guarantee that part of these profits are reinvested in the country to improve the well-being of its citizens. The sector is very large and Minister Sánchez declared that they expect to collect around 160 million soles per year.
To get an idea of ​​the turnover of the gaming industry, just take a look at the best online casinos in Peru here. The list of operators is extensive and they move around 4,500 million soles each year.

Regulatory wave in Latin America
Peru is not the only Latin American country that is working on the regulation of online gambling. During the COVID pandemic, all of Latin America was able to see the potential of this industry. While the economy of all sectors contracted, the companies in the game grew without stopping.

This made the governments see that legislating the sector as soon as possible would be a good way to increase the income of the state coffers and strengthen their economies.

Argentina got down to work and drew up regulations in several of its jurisdictions. Instead of drawing up a single federal law, they opted for independent legislation, similar to the US states. Chile has recently approved a draft in Congress and is awaiting publication of the regulations for the gaming law to come into force. And Mexico is in negotiations to start the regulatory process.