Peru: Total Regulation of Online Gambling and Sports Betting under Law 31557
Wednesday 25 de September 2024 / 12:00
⏱ 1 min read
(Lima).- SoloAzar shares an article where Jonathan Félix, CEO of Global Business Company of Peru S.A.C., explains Law 31557, which regulates 100% of online and sports betting games in Peru, with strict rules such as the mandatory registration of players, the prohibition of cryptocurrencies and restricted access for minors.
Jonathan Felix, CEO of Global Business Company of Peru S.A.C., provided details on the new Law 31557, which came into force in February 2024, regulating the operation of sports betting games and remote gaming, such as online gaming.
According to him, the Ministry of Foreign Trade and Tourism (Mincetur) has been designated as the regulatory body for this activity. "All companies wishing to operate in the national territory must request an operating authorisation from Mincetur. Currently, we have 60 companies, both national and international, that have managed to obtain such authorisation,’ Felix stressed, underlining the importance of the Peruvian market being 100% regulated.
Felix also stressed the importance of players and bettors placing their bets on authorised websites or agencies. “The regulation requires all companies, both digital and face-to-face, to register players before accepting any bets. No anonymous bets are accepted,”, he assured.
The CEO of Mincetur explained that the law recognises three types of players:
- Peruvian citizens with a valid ID card,
- Foreign citizens residing in Peru with a valid foreign ID card,
- Tourists using their passport.
He also emphasised the protection of minors, prohibiting their participation in both face-to-face and digital gambling.
“The law also prohibits the use of cryptocurrencies or any equivalent. Only forms of payment regulated by law are accepted, such as cash, credit cards and virtual wallets”, Felix said, urging citizens to gamble legally and to “bet for Peru”.
Categoría:Legislation
Tags: Sin tags
País: Peru
Región: South America
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