Peru approves regulations for sports betting and iGaming

[The Buzz]

The Ministry of Foreign Trade and Tourism (Mincetur) in Peru has given the green light to the country's sports betting and igaming regulations. The comprehensive document, officially designated as Supreme Decree 005-2023-Mincetur, details the technical and regulatory prerequisites for gambling operators looking to provide their services in Peru.

From Peru news organization Gestion:

The rule indicates that it will come into force in 120 days, that is, on February 9, 2024. During the following 30 days, between February 10 and March 10 of next year, all operating companies of the technological platforms that offer These services must virtually present their request to Mincetur to be granted operating authorization.

According to data from the ministry, as of October of this year, there are nearly 50 online sports betting houses operating in Peru. From April 2024, the ministry indicated, the application of the special tax will come into force for all of them.

Those that do not register within that period will not be able to continue operating in our country, and the penalty for those operators that do not comply with this provision will be no less than 150 UIT, and will also be subject to the corresponding criminal complaint, in accordance with article 243. -C of the current Penal Code and disqualification to carry out this activity.

“The rule will allow the Peruvian State to collect close to S/ 162 million annually, to be invested in the reactivation of tourism , tourist infrastructure works, promoting sports and attending to mental health programs ,” indicated the head of Mincetur, Juan Carlos Mathews.

“The tax will apply to national and foreign online gaming and betting companies,” the official said. It is worth saying that Peru is the third country to regulate this activity, behind Colombia and Argentina (which applies it only in three provinces, including Buenos Aires.

Read more: https://gestion.pe/economia/gobierno...-peru-noticia/

[ocreditor]

I wonder how they'll address gambling advertisement, time will tell

[NoDepositCasinos]

Well, for me, it seems less hypocritical than some other statements. They clearly express their need for funds, their pursuit of it, and their intention to use it for generating more resources... and then investing in mental health programs.