The Ministry of Foreign Trade and Tourism published its proposed rules to allow time for feedback.
Peru.- Three months after the enactment of Law N°31.557 to enable igaming and sports betting in Peru, the Ministry of Foreign Trade and Tourism (Mincetur) has published draft regulations for the market.
Mincetur, the national administrative authority for online gaming and sports betting had 120 working days to prepare regulations after the law was published on August 13. However, it said it was announcing the rules early to provide transparency and access to its regulatory proposal and invite comments.
Minister of Foreign Trade and Tourism, Roberto Sánchez said: “We have not waited for the deadline. For 21 days, the pre-regulation is available to all the stakeholders and operators so feedback can be given and we can have their suggestions.”
The text of the pre-regulation has 53 articles that range from general provisions to requirements for technological platforms, certification laboratories supplier registration and more.
Peru’s online gaming and sports betting legislation
The text of the law approved in the Congress of the Republic makes the Ministry of Foreign Trade and Tourism (Mincetur) the national administrative authority for regulation, licensing and supervision of online gambling and sports betting.
The text prohibits the participation of minors and people with gambling problems identified through the Registry of Persons Prohibited from Accessing Casino Games and Slot Machines. Mincetur will be able to order the Ministry of Transport and Communications to block unlicensed sites.
Municipalities may grant licences for physical premises for remote sports betting with the prior authorisation of Mincetur. Venues must not be located within 150 metres of places of worship or education.
The legislation taxs gaming at 12 per cent of each operator’s tax base (net income minus maintenance costs), to be collected on a monthly basis. Of the money collected, 40 per cent will go to the public treasury, 40 per cent for the development of tourism and 20 per cent for the promotion of mental health.
Operators will be able to offer bonuses for online gaming as long as they cannot be exchanged for money. Sports betting operators will have to display messages on all platforms warning that “excessive online sports betting can cause pathological gambling”.
The penalties for breaching regulations will range from a warning and a fine of up to SOL200 (€50) for minor offences to a licence disqualification. Mincetur will have the authority to temporarily close an operation and confiscate assets as a precautionary measure.