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Peru Is Getting Ready for Sports Betting Expansion
- October 25, 2018 By Riley Wilson -
Peru is expecting big changes in the country’s sports betting laws, with two proposals aimed at further regulating this activity.
The first proposal was introduced by Percy Eloy Alcala Mateo, a member of the Fuerza Popular Party, and if adopted, would mark the beginning of a major expansion of the industry.
A Big Update Is Necessary
Under the provisions of the new law, land-based sports betting in Peru would be allowed to operate within already authorised casinos. Those operators who decide to do so would be required to pay an additional tax of 12% per month on the difference between their sports betting income and the prizes paid out to bettors.
The new piece of legislation would also establish other rules aimed at protecting players and regulating other means of payment.
At this moment, around 20-25 sports betting shop are operating on a national level, with no authority regulating their business. The only existing piece of legislation that relates to sports betting originates from 1942, so it’s more than obvious a big legal update is needed.
More Focus on Online
Leyla Chihuan Ramos, Mateo’s Party colleague, put forward the second proposal, which is focused on online gaming, as well as sports betting. The bill introduces measures to protect players and prevent illegal use of online sports betting.
According to the proposal, The General Directorate of Casino Games and Slot Machines (DGJCMT) would be tasked with regulating online betting, issuing five-year licenses and introducing strict fines for non-licensed operators. DGJCMT would also be responsible for blacklisting those gambling websites operating without a license.
At this moment, there is no law that defines how foreign-based companies may offer their services to customers in Peru. Yet, they are allowed to do so as long as they adhere to local business practices and laws.
Currently, online gaming can be offered both from within or from outside of Peru. It should be noted the country one of the first jurisdictions to officially allow for online gaming in South America and allows a number of online sites to offer their services to local customers.