Peru legislators vote to legalize online gambling

Peruvian lawmakers last Friday unanimously voted in favour of legislation that seeks to establish online casinos and sports betting in the Latin American country.

The bill received 96 votes in favour and none against, although seven legislators were absent during the voting session. The Ministry of Foreign Trade (MINCETUR) will be responsible for the new legislation, which will be fully implemented during a 60-day window.

Trade minister Roberto Sánchez stated that one of the resolutions agreed upon in the drafting of the final text was the 12 percent tax rate on all monthly profits of the iGaming industry. This is to create a level playing ground for all operators while emphasizing customer protection.

MINCETUR will be responsible for ensuring that operators comply with all the rules before a license is issued. Some of the rules include the compulsory introduction of measures to curb gambling harm towards minors and problem gamblers.

Under the new law, remote sports betting venues can be established far away from schools and worship centres. These remote betting facilities will offer gamblers an opportunity to bet on their favourite games.

Licensed operators can only offer bonuses if they cannot be exchanged for real money. Also, sports and casino operators will be required to properly warn against the dangers of betting and losing money.

Online casinos and sports betting in Peru can generate over US$160 million in tax revenue for the country, with the industry projected to see over $1 billion in turnover annually.

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