During the debate Diana Gonzalez the author of the project highlighted that Peruvian sports had received less from the budget each year since 2019 and, due to the pandemic, the income that the Peruvian Sports Institute received directly -through income generated by slots and casinos had seen a sharp decline.
“For this reason, this initiative favours the promotion and financing of sports activities and our athletes,” explained Gonzalez, who added that online sports betting is not currently regulated in Peru. According to government estimates, in 2018 around 1,800 million soles (just over US$472 million) was generated via offshore sites none of which was taxed.
“This bill seeks to raise more resources for the State, for the benefit of the population and, in particular, of national athletes who need more support to represent us,” said Congresswoman Gonzales.
According to the draft project: “Operating authorizations will be valid for six years, and may be renewed from six months before their expiration. Meanwhile, the Financial Intelligence Unit (UIF) of the Superintendence of Banking, Insurance and Pension Funds will be in charge of supervising sports betting activities. In addition, a guarantee amount and conditions will be established, which must be paid to cover prize payments, fines and taxes.”