Online sports betting is not something that only takes place in the United States, as more and more countries in Latin America and the Caribbean are approving online sports betting, as millions of sports fans want to make the most of their knowledge of the sports they are passionate about.
In the Incas’ country, the start of sports activities is imminent, and that is why we put together this report to tell you if online sports betting is legal in Peru in 2023.
Until now, gambling has operated in a kind of legal limbo, as remote gambling sites were not covered by the law until recently. But now, the situation is different, and at JefeBet we explain it all in detail.
Online sports betting in Peru in 2023. Is it Legal? Here is all the latest information about online betting’s status in Peru.
To put it simply: yes, it is legal, but details are still missing for its final regulation. To explain it better, let’s go back a few months earlier this year.
In August 2022, the Peruvian Minister of Foreign Trade and Tourism (Mincetur), Roberto Sanchez, prepared and submitted to the Peruvian Congress a bill that was approved by the Economy Commission and the Foreign Trade and Tourism Commission, establishing the terms and conditions for the regulation of online sports betting in Peru.
A month later, Congress approved it without hesitation. The bill obtained 91 votes in favor, seven abstentions and no votes against. Thus, Law No. 31,557 gave way for the history of online sports betting in Peru to start. Then, on November 13,2022 the last chapter of online sports betting in Peru was written,as the law was enacted and published in the country’s Official Gazette.
This was recorded by Mincetur’s Twitter account.
What does this mean? Since November 13, companies in the industry have 21 calendar days to submit comments, suggestions and opinions on the subject. The deadline is December 2.
The text contains 53 articles and covers general provisions for their participation in the market, authorizations, technological platforms and supplier registration, among others. Meanwhile, it names Mincetur as the sole regulatory authority for the gambling business, not only for online sports betting, but also for online casinos in Peru.
Peru’s betting market 2023
It is estimated that the online sports betting business in Peru would generate close to US$1 billion annually. Thus, what the law seeks is not only to provide a legal framework and order to the activity, but also to take a slice of the cake.
The law indicates that remote sports betting houses will be subject to the Special Gaming Tax, which is of the 12% and has been created specifically for online sports betting houses and online gambling.
With this tax, it is estimated that the State will collect around $41,300,000 per year, a sum that will be distributed to specific sectors: 20% to the public treasury; 40% to the development of tourism; 20% to the promotion of mental health; and the remaining 20% to the Treasury.
Now you know that online sports betting is legal in Peru. What is left is to wait a few days for the interested parties to pronounce themselves as such. So, it is very likely that in the early days of 2023 it will be possible to bet online on your favorite team or player in Peru!
Of course, at JefeBet we will keep you updated on this news, so we invite you to follow us on social networks or visit our News section.