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Peru considers new sports betting and iGaming legislation

Peru considers new sports betting and iGaming legislation

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Peru’s Minister of Foreign Trade & Tourism, Roberto Sánchez, has proposed a Bill that would effectively regulate sports betting and online gambling across the country, stating that the combined industry is worth more than $1bn a year.

The new Bill aims to regulate these gaming activities and raise taxes for the public purse. remotely so that they are taxed in public accounts. Peru’s Foreign Trade & Tourism Committee has also highlighted the need for integrity, honesty, transparency and equal treatment, as well as the protection of vulnerable groups and the avoidance of electronic fraud.

Mr. Sánchez believes that the new proposals will generate around US$43m in new taxation revenue, to be invested in the reactivation of tourism, public infrastructure and the promotion of sport.

The Bill incorporates legal, technical and economic provisions for the authorisation, control and supervision of technological platforms for remote sports betting, and also includes provisions for the prosecution of illegal gambling. In addition, it establishes access controls and verifications of the player’s identity and age.

In a published statement, Minister of Foreign Trade & Tourism, Roberto Sánchez, said: “The government of President Pedro Castillo is clear that this activity must be regulated for the benefit of all Peruvians. It is important to highlight that this project of the Executive has contributions from the national and international private sector: a clear example of the impulse to attract private investment.”