Peru is a country in western South America, sharing borders with Ecuador and Colombia to the north, Brazil and Bolivia to the east, Chile to the south, and the Pacific Ocean to the west. In recent years, Peru has embarked on the process of properly licensing its gambling sector, especially sports betting and Betting Sites in Peru. This paper gives detailed information on the legal systems of gambling in the country, legislation chronology, commissions, licenses, fees, taxes, and latest information on banned and allowed bets.
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Legal Framework and Historical Legislation
Some key events in Peruvian gambling legislation:
- 1999: Law No. Thus, the law no. 27153, which regulates the casino and slot machine operations, was passed. This law provided a sound legal and regulatory framework that was regarded as best practice at the global level.
- July 15, 2022: Peru’s Congress approved Bill 2070/2021 on the legalisation of online gaming and sports betting. This bill was developed from many bills presented by lawmakers and the Executive Branch and was passed with a very large margin (91 votes in favor, 0 votes against and 7 votes of no show).
- 2022: Law No. 31557, which was initially aimed at the regulation of sports betting and online gambling, was passed.
- 2023: Law No. 31806 amended Law No. 31557, strengthening the regulatory framework for Internet gambling.
- October 13, 2023: The Peruvian government issued the regulations under Supreme Decree No. 005-2023-MINCETUR, governing and regulating online gambling.
Regulatory Agencies
The Ministry of Foreign Trade and Tourism (MINCETUR) is the primary regulatory authority for sports betting and online gambling in the country of Peru. MINCETUR is responsible for licensing and registration of technological platforms and monitoring compliance with advertising and responsible gaming standards.
Gambling Law and Regulation in Peru – 5 Things to Know
Licensing and Fees of Betting Sites in Peru
Operators wishing to set up a betting site in Peru or engage in Peruvian sports betting. Certain licensing requirements and associated fees must be followed:
Authorized Entities:
- Domestic companies of Peru that operate in Peru.
- Subsidiaries of international companies in Peru.
- Foreign companies having their origin in Peru.
Operating Licenses:
- Licenses are for a period of six years and can be renewed.
- Licenses are non-transferable.
- MINCETUR reports the licenses granted to the Financial Intelligence Unit (UIF) and the National Superintendence of Customs and Tax Administration (SUNAT).
- These betting platforms must be legal and recognized by the Ministry of Tourism and External Commerce of Peru (MINCETUR).
- The licenses can be obtained for domains like “bet. pe”, “. bet”, “. com”, “. com. pe”, or “. pe”.
Any such operation is deemed unlawful and attracts criminal prosecution.
Taxes and Fees of Betting Sites in Peru
Betting Tax:
- Taxes are paid on a monthly basis.
- Taxpayers are Peruvian companies, branches of foreign companies in Peru and foreign companies that do not have a permanent establishment in Peru.
- The net win rate is subject to 12% tax (bets less prizes).
- The expenditure for maintenance is 2% of the total GGR and thus the actual tax is 10% of GGR.
- SUNAT collects the tax, and it is allowed as a deduction for income tax purposes.
- The tax takes effect one month after the law is passed.
Prohibited and Permitted Bets
The new regulations clarify the types of bets that are allowed and prohibited:
Permitted Bets:
- Sports betting such as the live bets on different sporting activities.
- Online casino games, such as slot games, table games, and live dealer games.
- Betting terminals in physical locations.
Prohibited Bets:
- Bets on events that include children.
- Stakes on specific political or socially contentious issues.
- Illegal or unauthorized betting sites and applications.
Key Events and Legislation Timeline
Below is a detailed list of key events, laws enacted, license types and tax details:
- 1999: Gaming Law (Law No. 27153) is enacted for casino and slot machine operations.
- July 15, 2022: The bill 2070/2021 for online gaming and sports betting has been approved by congress.
- 2022: Law No. 31557 an act to regulate sports betting and online gambling is passed.
- 2023: Changes to Law No. 31557 by Law No. 31806; Supreme Decree No. 005-2023-MINCETUR published.
- February 9, 2024: Law No. 31557 comes into force; 145 license applications are submitted within the first 30 days in Peru.
Conclusion
In recent years, Peru has come a long way in terms of developing the legal framework for controlling gambling and the related activities, including sports betting and online gambling. The measures that MINCETUR and the Peruvian government have taken to set clear rules for the sector and licensing have made Peru one of the most advanced countries in the regulation of this sector in the region and worldwide.
For those who would like to find out more about betting sites in Peru or participate in Peru sports betting, it is essential to know the legal situation, licensing, and taxation. Peru’s all-encompassing regulatory framework is conducive to the growth of the industry and presents a favourable climate for both operators and gamblers.