Peru Moves One Step Closer to Legalizing Online Gambling

Peru Moves One Step Closer to Legalizing Online Gambling

Peru is moving closer to legalizing online sports betting in an effort to support the country's economy. The Economic Commission of Congress unanimously passed a law regulating the practice.

The bill, introduced by Congresswoman Diana Gonzalez, aims to regulate sports betting via the Internet or other communication channels.

The lawmaker made the case for her initiative during the session, which was held at the Legislative Palace. She noted that the economic activity would support Peru and national athletics. The bill will now be sent to Parliament for further consideration.

Online sportsbooks in Peru's future

Gonzalez said the measure would legalize sports betting, which would help prevent crimes such as money laundering. It would also provide more aid to Peruvian sports through taxes collected by the government.

The initiative comes as Peruvian national sports groups face funding cuts year after year. In addition, Gonzalez argues that online sports betting is not regulated in Peru. As a result, no tax revenue is generated. In 2018, she estimated that Peru's unregulated sports betting sector was worth about 1.8 billion soles ($475.87 million).

The plan has a total of 12 penalties if rules are violated. They range from a fine of up to 50 UIT to a 36-month suspension of operations, permanent revocation of license and disqualification for up to ten years. UIT is a tax unit, now worth S$4,600 (US$1,216).

The government received no part of that amount. Even at the 3% rate, Peru would have received more than $14 million. That money would have come in handy in a country where about 19% of the population is poor.

Peru takes gambling one step further

The success of the casino and gambling industry in Peru is largely due to a clear, clear and easy to implement legal and regulatory framework. This legal formalization has attracted many investors, both local and international, who see exciting revenue potential in this area.

Understanding the importance of recognizing, formalizing and streamlining the gambling business, the Peruvian government has developed a rigorous but unambiguous legal framework. It allows interested businesses to develop these activities with full legal certainty, and provides players with additional guarantees. However, Internet casinos and sports betting are still not available.

Peruvian gambling laws clearly distinguish between gambling and betting. The law defines gambling as a game in which the player's profit is determined solely by chance. This includes slot machines, lotteries, and casino games such as bingo and roulette.

"Gambling," on the other hand, requires ability, knowledge and talent. Betting is regulated by Law 10345, which was passed in 1945, but it only attempted to legalize the practice. Sports betting, on the other hand, is regulated by article 1942 of the Peruvian Civil Code, and there are no significant restrictions on this type of enterprise.

Author: Ivanov Harlam Ivanov Harlam | Last update: 17.05.2022

The following pages may interest you as well:

Casino Graton - Nightmare Party Canceled Online casino news 28 december 2020

Casino Graton - Nightmare Party Canceled

The 4,000-person private party at the casino has been canceled. […]

SkillOnNet has developed a traffic light for casinos Online casino news 06 september 2021

SkillOnNet has developed a traffic light for casinos

The choice of the slot will be prompted by the SkillOnNet traffic light. […]

Century Casino Bath is ready to open its doors Online casino news 03 may 2018

Century Casino Bath is ready to open its doors

The UK gambling industry is booming […]

Latvian online casinos hit by coronavirus rink Online casino news 21 march 2020

Latvian online casinos hit by coronavirus rink

Latvian politicians, having closed gambling establishments, also banned online casinos. […]

Station Casino introduces PlayOn non-cash transaction technology Online casino news 20 august 2020

Station Casino introduces PlayOn non-cash transaction technology

Station Casino plans to introduce PlayOn technology, which provides non-cash transactions. […]

Dice for online casinos are another novelty of Evolution Online casino news 13 november 2020

Dice for online casinos are another novelty of Evolution

Evolution has decided to enrich the online casino games with craps. […]

Comments ()

    You need to login to create comments.

    Recommend Casinos

    Joycasino
    Joycasino
    Fairspin Casino
    Fairspin Casino
    Casino-X
    Casino-X
    MalinaCasino
    MalinaCasino
    BitStarz Casino
    BitStarz Casino
    Jackpot City Casino
    Jackpot City…
    All Slots Casino
    All Slots Casino
    AHTI Games Casino
    AHTI Games Casino
    PlayOJO Casino
    PlayOJO Casino
    Eurogrand Casino
    Eurogrand Casino

    Recommend Games

    Mystery Drop
    Mystery Drop
    Golden Gallina
    Golden Gallina
    Rabbit Hole Riches
    Rabbit Hole Riches
    Sparkling 777s
    Sparkling 777s
    Wolf Night
    Wolf Night
    Knockout Football Rush
    Knockout Football Rush
    Cycle of Luck
    Cycle of Luck
    Gonzo's Quest
    Gonzo's Quest
    Wild Walker
    Wild Walker
    Triple Double DaVinci Diamonds
    Triple Double DaVinci Diamonds
    Fairspin Casino