The reintroduction of a betting consumption tax looms over Peru, raising concerns that double taxation and a rise in black market activity could dampen growth.
It has been a huge year for gambling in Peru and industry commentators expect, thanks to recent online regulation, that it could become the third largest online betting market in South America. An amended Law No 31557 to regulate online sports betting and igaming in the country came into effect on 9 February, after initially being signed off by President Pedro Castillo in 2022.
The country’s gambling regulator, the Ministry of Foreign Trade and Tourism (Mincetur), started taking online licence applications in February and the market’s potential encouraged top tier operators such as Betsson, Rush Street Interactive and Stake to apply. By 21 March, 145 applications had been received.
The regulatory framework set out in Law No 31557 has been described as favourable for operators as it features a respectable 12% tax on gross gami..