Legal Sports Betting In Peru

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Is Online Sports Betting Legal In Peru?

Yes, online gambling is legal in Peru. President Pedro Castillo signed online sports betting into law in August 2022 and regulated sportsbooks are allowed to operate within the Republic. Additionally, online sportsbooks licensed outside of Peru have provided odds in the Republic for years legally. Peru has embraced gambling, including sports betting, heavily and has no laws that prevent locals from betting on sports online. Online sports betting is indeed legal in Peru and is available for all residents and tourists alike.

Who Regulates Sports Betting In Peru?

Sports betting regulation in Peru is a bit different than in other countries with legal sports betting. Most of the time, it is a government agency that regulates and operates sports betting. In Peru, a company called Intralot actually authorizes sports betting in the country. Intralot Peru is also the sports betting provider for the country as well. Intralot Peru is the company that gives out the various sports betting licenses around the country. There is no limit to the number of licenses offered, which means many different  offshore sports betting sites in Peru.

How Is Peru Sports Betting Taxed?

Sports betting is both taxed and regulated in Peru to fund a number of programs throughout the country. There are no exact percentages reported as to how much money is taken from the market through revenue taxes but they are one of the few countries in South America that require taxes be paid on sports betting by operators. State, local, and national government organizations all receive profits accordingly.

Organized sports programs in Peru also receive a part of the revenue gained from gambling on sporting events that help them to continue to operate. With sports betting being closed to regulated in Peru with Bill number 2070, the tax from sports betting and online gambling would consist of 40% of the money would to the public treasury, while 20% would go to Sports Institute in Peru. The Foreign Trade and Tourism organization is the group attempting to regulate sports betting, and the remaining 40% of the tax would go to their budget.

Sports Betting Revenue In Peru

Sports betting Peru set its tax rate at 12%. The taxation of regulated betting in Peru will be overseen by the Ministry of Foreign Trade and Tourism (Mincetur) and the funds will be divided among the Mincetur, the Peruvian Sports Institute (IPD), the Ministry of Health, and the Public Treasury. 40% will go to Minceur while 20% each will be divided to the other branches.

Peru Sports Betting Markets

The largest city in Peru by far is Lima, with a population of almost 9.6 million people, nearly a third of the country’s total population. The most popular sport for Peruvian bettors is soccer, especially Peruvian Liga 1. There are 20 active teams in Liga 1, but the by far the most successful and popular clubs to bet on are the three largest in Lima: Universitario, Alianza Lima and Sporting Cristal. Aside from soccer, baseball and basketball are also very popular for Peruvian bettors—especially the Liga de Basket de Lima. While the market is already there for sports betting in Peru, there is still huge potential for growth, especially if a national baseball league ever gains a foothold.

Deposit Methods + Currencies Used In Peru

If you are wanting to bet on sports while you are in Peru, you need to know the various sports betting deposit methods on top of what kinds of currencies are accepted in the country. The national currency of Peru is the sol. So long as you have sol, you are able to wager on sports in Peru. But it is not just the sol that is accepted. US dollars are also accepted at legal sports betting sites taking Peruvians. With both of these currencies, you can bet on sports in Peru. However, we recommend that you use Bitcoin and other cryptocurrencies. Online offshore sportsbooks like BetOnline always accept cryptos and they are the best way to get money into your account. There are a good number of other deposit methods as well that you can take advantage of. The following list will tell you how you can deposit money for sports betting in Peru:

How Do I Withdraw My Winnings In Peru?

Much like with deposit methods, Bitcoin and other cryptocurrencies are your best bet for fast sportsbook payouts. The reason for this is because there are no fees for using cryptos and they allow you to move your money in and out of your account faster than anyone else. There are other ways you can withdraw your money as well. Here is a list of ways you can withdraw your cash in Peru: