It is no coincidence that Peru has attracted the attention of the iGaming industry with its approach to launching online casinos. Over the past ten years, the country has undergone significant economic changes and improvements in the regulation of both online and offline gambling.
In 2022, Peru’s GDP grew by 2.7%, making it one of the first countries in Latin America to recover from the COVID-19 pandemic. By 2026, this growth is expected to reach 3.3%. The arrival of foreign companies in the Peruvian market has played an important role in this.
Peru has a relatively recent history of casinos and gambling. On May 1, 1979, the country permitted the opening of land-based casinos. The legalization of slot machines during the first two years accounted for only 3% of the total taxes introduced after eleven years. The tax increased to 20% in 1992.
Later, significant changes took place. The Casino and Slot Machine Act was passed and approved in 2006, adding new rules and increasing taxes. Rules introduced in 2009 required gaming establishments to conduct internal audits and allocate funds to combat crimes such as money laundering or financing illegal activities.
Finally, on February 13, 2024, the long-awaited Law No. 31557 came into force. This law regulates the activities of online casinos and betting companies. After that, Peru became one of the most regulated markets in Latin America, along with Brazil, Argentina, Colombia, and Panama.
When it comes to opening an online casino in Peru, it is important to have a good understanding of the legal aspects of the industry. Although the first gambling law was passed in 1840, the rules governing lotteries, sports betting, and land-based casinos were not changed or clarified until the 1990s.
Laws governing industry operations:
- Law No. 21921 is the general law on lotteries, while Law No. 27153 regulates casino activities.
- Law No. 10293 regulates players who bet on sporting events.
- Law No. 31557, amended by Law No. 31.806, establishes rules for remote gaming and sports betting.
Laws regulating casinos and sports betting are under the control of the Ministry of Foreign Trade and Tourism (MINCETUR). The National Program for Integral Family Welfare (INABIF) appoints lawyers to oversee lottery activities.
Law No. 31557 came into force on February 9, 2024, legalizing online gambling and casinos in Peru.
Applications for licenses were open from February 13 to March 13, 2024. As a result, more than 150 companies applied for licenses.
Companies will be able to operate legally in Peru, providing a transparent and secure gaming environment.
Key provisions of Law No. 31557:
- All operators, regardless of their nationality, must register in accordance with the procedure established by law.
- Serious restrictions and prohibitions apply to unregistered online casinos and bookmakers.
- All companies must pay a special tax of 12% of their total profits.
- MINCETUR has the right to block websites and applications that offer unlicensed gambling and sports betting on the Internet.
- Tax revenues from the gambling business will be distributed as follows: forty percent will go to the state budget, forty percent to tourism development, and twenty percent to mental health support.
