Regulation of sports betting and online gambling introduced in Peru

Peru's Ministry of Foreign Trade and Tourism (Mincetur) on 13 October approved national regulations for sports betting and online gambling. The law creates mechanisms to protect players from irregularities in the payment of winnings and provides control over the activities of online operators. 
 
According to the content of the document, sports bets can only be placed on sporting events organised by national or international sports associations.
 
The new rules will come into force on 9 February 2024. Companies operating in Peru will have one month until March 10 next year to apply for a licence. Otherwise, they will be banned from accepting bets from Peruvian punters. In case of violation of the ban, they will be fined and subject to criminal prosecution.
 
Recall that on 12 August 2022, Peruvian President Pedro Castillo signed a law to regulate online gambling, imposing a 12% tax on operators' revenues. Later, after public consultations, amendments were prepared to modernise the legislation.
 
The authorities expect that the new regulatory rules will allow to attract up to 162 million Peruvian soles (42 million USD) annually to the budget.

It should be noted that Peru has become the third country to regulate online gambling, after Colombia and Argentina, with regulation in the provinces of Buenos Aires, Cordoba and Mendoza.