peru, igaming, gambling, sports betting

Betting and iGaming given new market in Peru

Peru and its Congress have voted to legalise both online gambling and sports betting, giving iGaming operators a new market in South America.

A new regulated framework is now in place due to approval finally given on July 15th after a long parliamentary debate. In the end, there were 91 votes in favour and no opposing votes.

The new law puts the responsibility of regulating gambling in the country to the Ministry of Foreign Trade and Tourism of Peru (Mincetur), with a gaming tax set at 12% of every operator’s tax base, which is calculated at net income minus maintenance costs, and 2% of operator’s monthly income. Peru’s tax body, Sunat administers the tax.

“We consider that 12% is a rate that allows us to continue investing and betting on the development of the industry,” Gonzalo Pérez, vice president of the Peruvian Sports Betting Association (APADELA), said.

However, Peru is still very aware of the dangers of gambling and is seeking to regulate any market opening in the country. Roberto Sánchez, the head of Mincetur and a federal deputy, also mentioned that the purpose of the law is “to dictate a responsible gaming policy for the protection of minors and people excluded from participating in games subject to regulation”.

“Responsible and healthy gambling, in a social market economy that mobilizes millions of dollars, is an activity that needs to be taxed. No one can generate profit without paying taxes. The ends, then, are aimed at health, education, the development of tourism and sport”.

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