How to start an online casino in Peru in 2024: gambling industry overview

The recent regulation of Peru has shot the country to the top of operators’ priority lists. What opportunities does the Latin American country hold, and how would an entrepreneur start a project there? Find out right here.

The entire iGaming industry has its hungry eye on the Latin American iGaming market, home to football-loving Colombia and the (until recently) sleeping giant of Brazil. But they’re not the only meal on the table.

LatAm insiders have long viewed Peru as a healthy — and growing — iGaming market. After years as a gray market, authorities have finally introduced iGaming regulations, so online casino operators may soon be in for new opportunities to establish a thriving online gambling business in Peru.

Read till the end to learn more about a country that may soon offer great investment chances.

El milagro Peruano: Overview of the Peruvian gambling market

Peru, the third largest country in Latin America, is one of the region’s four gambling giants, alongside Argentina, Brazil, and Colombia. Driven by free trade, privatization, and foreign investment, the country’s diverse and growing economy has led to reduced poverty and stabilized credit ratings, although COVID-19 and political turmoil have presented setbacks.

Gambling is among Peruvians’ favorite pastimes. A survey from PR firm Sherlock Communications showed that Peruvians are the region’s second-biggest bettors, second only to Argentina: 18% of the respondents said that they bet several times a week, 16% bet several times a month, and 37% placed bets at least once in their lifetimes.

The total size of the gambling market in Peru is currently estimated to be worth approximately $2.5 billion annually. By 2028, market penetration is projected to reach 750,000 players, representing slightly above 20% of the total adult population.

Until recently, Peru was considered a gray market, meaning that iGaming was neither prohibited nor regulated. Land-based casino regulations were only issued in the 90s, and weren’t amended to include the online sphere until 2015, when the first calls to regulate the online gambling business were heard.

We’ll discuss the current situation regarding online gambling regulations in Peru in more detail below. First, we’ll take a quick look at the land-based segment.

The land-based gambling market in Peru

The land-based part of the industry has been officially regulated by two decree laws since 1979.

According to recent information from the Ministry of Foreign Trade and Tourism (Mincetur), the country now has approximately 744 gaming venues across the nation. These venues include casinos, slot parlors, and other gambling establishments. Casinos are supervised, licensed, and regulated by the General Office of Casino Games and Slot Machines, part of Mincetur.

All casinos are subject to a 12% tax on GGR.

Casinos are permitted to offer roulette, blackjack, punto banca, poker, bingo, and slot machines, among other games. The country also allows its citizens to gamble on websites that are regulated both locally and by foreign companies licensed by international regulators. Most foreign casino operators in Peru are licensed either in Curaçao or Malta. Peruvians thus have a wide range of legal gambling options to choose from.

Land-based sports betting is legal in Peru, but the regulatory framework is not yet operational. Still, there is a vast number of sports betting shops across the country, as Pervuians are famous for their love for sports.

To operate in Peru, operators need to obtain a license. License applicants have to go through a thorough investigation to prevent organized crime or other bad actors from entering the market. Once granted, the license is valid for five years with a possibility of renewal.

Peruvian online gambling market regulations

Peru has made significant strides in regulating the iGaming industry.

In 2022, the country enacted legislation to regulate online gambling and sports betting, which was implemented in October 2023. This move has transformed Peru from a gray market to a fully regulated one, attracting both domestic and international operators.

This was a long-awaited measure, as the industry was estimated to generate about $1 billion in annual revenue, which would have brought in $41.5 million per year in taxes, according to Mincetur. This pushed the government to work on regulating the industry in order to direct these resources to the development of tourism and support of the public treasury.

As of April 2024, all companies operating in the Peruvian online gaming market must have a valid gambling license from the Directorate General of Casino Games and Slot Machines (DGJCMT). The initial licensing process was open from February 10 to March 10, 2024, during which 145 license applications were received from both domestic and international operators.

With the iGaming market in Peru now regulated, and 83.2% of the population using the internet in 2024, the future looks full of positive growth.

How to start an online casino business in Peru

Establishing an online casino or sports betting site involves several crucial steps. If you ever wondered how to start an online gambling site in Peru, you’ve come to the right place.

Plan carefully

Starting an online casino business requires meticulous planning.

You need to outline your business goals, research your target market, and create a detailed business plan that includes your budget, marketing strategies, and operational plans.

Identify your target audience and tailor your games to them

A game portfolio can make or break a casino. The game offering needs to reflect the tastes of the target market while having enough depth and variety that players will never feel like they’ve run out of options.

The country has a strong sporting culture, particularly when it comes to football, horse racing, and volleyball. Other popular alternatives are basketball and tennis.

Football, unsurprisingly, makes up to 90% of bets in Peru. The World Cup, the Champions League, and the Copa America — the South American men’s football championship — are hotly anticipated, and greeted with bursts of betting. Horse racing is one of the oldest kinds of gambling in Peru. The Hipódromo de Monterrico in Lima, operated by the Jockey Club of Peru, has been hosting horse racing since 1960. Bets can be placed either at racing facilities, off-track betting parlors, or online.

While it can be possible to introduce a new game to an audience, before you can do that, you need to lay the groundwork. By tailoring your offerings to what your players like, you can establish your reputation while building your business.

Choose a trusted game provider

Peruvian players are particularly fond of slots, roulette, and bingo, in both land-based and online casinos.They will place lower bets at a higher frequency. Among the most popular card games are, of course, poker and blackjack, and the live versions of these (e.g. tournaments and live dealer) are becoming extremely popular in the region.

Ensuring that your casino offers the highest quality versions of those games is no easy task. Negotiating with each game developer separately and studying players’ tastes is a complex and time-consuming process, and that’s where game aggregators step in to rescue you.

Pick a payment service provider

When it comes to payment methods for online casinos in Peru, it’s important to keep in mind that the payment landscape is quite different from that of Europe or Asia. To keep their players happy, casino operators need to know the specifics not only of the region, but also of the country they choose to operate in.

Card payments (like VISA, MasterCard, and American Express) are standard payment options, essential for any comprehensive offer of payment methods. That said, for online casinos in Peru, it’s twice as important to include bank transfers and cash payments.

For 55% of Latin Americans, bank transfers will allow players to transfer their money directly from their personal bank accounts to online casino accounts. The rest of the players will benefit from cash payments with PagoEfectivo, a leading Peruvian online payment gateway. During payment, PagoEfectivo generates a payment code that the player then uses to conduct a payment in cash at one of the affiliate financial institutions. The system also allows businesses to sell products in the local currency (Peruvian Sol) and receive their funds in USD.

To facilitate the integration of each payment system and reduce the paperwork generated by signing a separate contract with each vendor, you can use a gambling aggregator to integrate all payment methods at once. For example, our Moneygrator solution combines 250 payment systems for different gambling markets in a single integration session.

Get a license for legal business operating

As a growing market with a strong demand for betting and gaming, Peru attracted operators for years before regulation. Some of them haven’t felt compelled to get in line with the recent changes — which is a huge mistake.

To stand out and operate within the legal framework, obtaining a license for an online casino or sports betting site in Peru is crucial. The licensing process ensures that a gambling site complies with local regulations, providing a safe and fair gaming environment for users.

A licensed operator can also access reliable payment processing services and partnerships with top-tier software providers, leading to a better overall user experience. It also protects the business from potential legal issues and penalties arising from operating illegally, securing its long-term viability in a competitive market.

Create a brand and website

Building a strong brand and website is crucial for the success of an online casino or sports betting site in Peru.

Your brand is more than just a logo or a name; it embodies the values, mission, and unique selling points of your business. It's important to create a brand that connects with your target audience and reflects their interests and cultural nuances. For example, using popular Peruvian symbols or colors can foster a sense of familiarity and trust among local players.

Once your brand identity is set, the next step is to develop a user-friendly and visually appealing website. The site should be easy to navigate, load quickly, and be compatible with mobile devices, given the increasing number of users accessing betting sites via smartphones. Clear and engaging content, secure payment options, and excellent customer support are also essential. Additionally, features like live betting, real-time updates, and personalized promotions can enhance the user experience and keep players engaged.

By focusing on these elements, you can create a compelling online presence that attracts and retains customers in the highly competitive Peruvian gambling market.

Conclusion

Peru’s gambling industry presents a tempting opportunity for iGaming operators.

Gambling is socially acceptable, and even welcomed, and there are audiences for both casino gaming and sports betting. With remote gaming regulations finally being approved, online gambling businesses have everything they need to thrive. Yet casino and sportsbook operators must be quick to stake out their position in this emergent market. This is not the time to learn from trial and error or battle with the challenges of opening an online casino.

To effectively go through all the steps of opening an online casino, many operators turn to one-stop-shop software suppliers like Slotegrator. Cooperating with us can help save time and money, eliminate potential mistakes, and hop on the opportunities of emerging markets such as Peru.

At Slotegrator, we offer turnkey gaming platform development and White Label solutions to speed up the process of launching an online casino. In addition, our legal team is always ready to help operators with complex issues related to the licensing process and the regulations of specific jurisdictions.