Peru's Ministry of Foreign Trade and Tourism (Mincetur) has approved the country's rules on sports betting and gambling.Peru has approved new rules for gambling operators.
The law will come into effect 120 days after its official publication and operators will have to adapt quickly to the new requirements.This is the first time Peru has regulated the gambling industry and it becomes the third country in South America after Colombia and Argentina (Buenos Aires, Cordoba, and Mendoza provinces) to do so. The Minister of Foreign Trade and Tourism, Juan Carlos Mathews, labeled it as an important step.
The ministry warns that there will be high fines for violating the new requirements. The rules will come into effect on February 9, 2024, and existing operators in Peru will have one month to apply for a license. Applications can be submitted from February 10 to March 10, 2024.
