Peru Moves Towards Online Sports Betting Legislation

Diana Gonzales pushing for online sports betting to help grass roots sports

Peru is moving towards legalising sports betting in the country following Congress approved a decree project to regulate and tax sports betting. 

Diana Gonzales a member of the Social Integration Party submitted legislation for the allowance of online sports betting with a tax threshold of 20%, gambling in Peru supports the Peruvian Institute of Sports (IPD) which is seeing a decreasing amount of funds and it is hoped that the introduction of sports betting will boost the sports institute as funds Gonzalez is being lost to money laundering. 

Should online sports betting be legalised the Ministry of Foreign Trade and Tourism (Mincetur) will be the agency responsible for regulating the activity with licenses being offered for 6 year cycles to operators. 

According to reports the proposed legislation should it become law would generate $42.5 million annually in taxes for the government.