15 May 2019

Peru plans an online gambling regulation

(Lima).- Peru may soon become the second Latin American country to regulate the Internet sportsbook and games of chance activity. The country already has a legal frame for traditional games, it means, offline games of chance or localized games.

Last November, it was presented a bill which required the need of a gaming license to operate legally in Peru, as well as the payment of a monthly fee. It means that, once the law is approved,the Peruvian government will block illegal webs. The news was very well accepted by betting houses such as Ruby FOrtune, in which Peruvian bettors will be able to keep on gambling online.

The General Casino and Slot Games Direction will be the national regulatory entity.

Other Latin American countries have also regulated online gambling. The first one was Colombia, which, in 2012, created a regulatory entity called COLJUEGOS, with the aim to manage and regulate the games of chance sector, both online and offline. COLJUEGOS regulates all types of games of chance, bingos, sportsbooks, casinos, national raffles, etc.

The main difference between Colombia and Peru is that the regulatory process in Peru will have two different types of licenses: one for online games, which will comprise casinos, slots and roulettes, and another for sportsbooks. Each type of license will have its own tax system. Besides, in Colombia there is just one type of contract, which comprises all type of online games of chance and luck.

Operators won't have to pay for their license in Peru. They will have to offer a guarantee for an amount of 800 UIT for each license demanded. That money must be paid once and will cover the operator the payment of prizes, penalty fees and any other obligation considered in the contract. This amount may be paid also through an insurance policy, a bail or a bank deposit, as well as any sort of guarantee.

Besides, operators will have the obligation to pay a monthly tribute, according to the 12% of the gross income minus prizes. Licenses will have a six-year validity and will be renewable.