Peru Sets Deadline for Online Gaming and Sports Betting Authorization Applications

A New Era for Online Gaming in Peru

Peru’s Ministry of Foreign Trade and Tourism (Mincetur) ushers in a groundbreaking phase for the online gaming and sports betting industry. With the enactment of Law No. 31557, Peru is taking significant strides toward a safer, responsible, and formally regulated gaming environment.

Deadline for Compliance: A Call to Action

From February 13 to March 13, companies seeking to operate in the burgeoning market of online sports betting and gaming in Peru face a critical period. They are required to submit their applications for operating authorization to Mincetur. This move, prompted by the comprehensive Regulations of the Remote Sports Betting and Gaming Law established in October 2023, marks a pivotal moment for industry players aiming to secure their place in Peru’s regulated market.

The Stakes Are High

Failure to comply with this application process carries severe consequences, including hefty fines starting from 150 UIT (Tax Unit), potential criminal charges, and a ban from engaging in online gaming activities within the nation. This stringent approach underscores the Peruvian government’s commitment to ensuring a controlled and ethical gaming landscape.

A Win for National Development

The regulated online gaming and sports betting sector is anticipated to generate approximately S/ 162 million (USD 42 million) annually in revenue. This significant economic boost is earmarked for pivotal national initiatives, including tourism reactivation, infrastructure development, and mental health programs, all without impinging on bettors’ winnings or the betting process itself.

Emphasizing Security and Responsibility

“The activation of Law No. 31557 and its regulations is a monumental step toward regulating online gaming and sports betting. It promises a well-regulated economic activity enriched with tax contributions, enhancing security for bettors, promoting responsible gaming, and formalizing the sector,” stated Juan Carlos Mathews, Minister of Foreign Trade and Tourism.

A pre-registration “white march” is currently in motion, enabling certification laboratories, remote gaming and sports betting providers, and service providers to enter their data in preparation for the official application window. This proactive measure aims to streamline the processing of incoming applications from February 13.

Looking Ahead: A Regulated Future

As the deadline approaches, the industry watches closely. The successful implementation of this regulation could position Peru as a model for responsible and profitable online gaming and sports betting regulation, not only in Latin America but globally. With 115 companies identified as potential applicants, including 86 international and 29 local entities, Peru’s gaming landscape is on the cusp of a transformative era, balancing economic opportunities with social responsibility and legal compliance.