The iGaming market in Peru by Nextio and Sportingtech
The report highlights that, although Peru is not the largest betting market in Latin America, it has established itself as one of the jurisdictions with the most rigorous and transparent regulation in the region. Following the formalization of the sector with Law No. 31557 in February 2024, the country has transitioned from being a gray market to an attractive environment for international operators.
Key points of the report:
Market Dimensions: A total turnover of between $1.5 billion and $2.5 billion is estimated, generating gross gaming revenue (GGR) of approximately $350 million.
Scope and Users: Approximately three million Peruvians bet online each month. The country has more than 4,500 physical points of sale (mainly betting shops), demonstrating the importance of the omnichannel model.
Regulation and Licenses: The Ministry of Foreign Trade and Tourism (Mincetur) has granted around 100 licenses to nearly 60 operators. The authority is recognized for its proactive and "open door" approach with investors.
Player Preferences: Football is the dominant sport, followed by volleyball and horse racing. Additionally, eSports (especially Dota 2) have gained massive ground, sometimes becoming the second most important market for local operators.
Fiscal Challenges: The report warns about a "flawed" tax policy, specifically the Selective Consumption Tax (ISC), which taxes each bet and affects the margins of legal operators. This could hinder the entry of new international platforms if not reformed.
Mergers and Acquisitions (M&A): A consolidation phase is anticipated in the next two to three years. Major global brands are seeking to acquire local operators who already comply with regulations to scale rapidly in the region.
Digital Infrastructure: Peru has an internet penetration of 79.5% (27.3 million users) and strong mobile connectivity, with more than 92% of connections being broadband (3G, 4G, or 5G).
This analysis by NEXT.io and Sportingtech concludes that Peru offers a stable and resilient regulatory base despite political volatility, positioning itself as a model to follow for other developing Latin American markets.
Link to the original report: NEXT.io Market in Focus: Peru - Full Report (PDF)
Tags: Peru, Peru betting, online betting Peru, Peru Next.io betting, Peru Sportingtech betting