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Peru – Online Casinos & Gambling Regulations
Peru is the third-largest country in South America and is home to 32 million people. Often noted for its incredibly diverse biomes, the country also has a rather storied past with gambling over the recent decades. Prior to the mid-2000s gambling was still very much popular in Peru, however, hundreds of these operations were running illegally. This created a major shift in government policy to create an environment where these operations could apply for authorization to continue running legally. Today the industry is in a very healthy state in Peru, making it a great time to sign up online.
More information about Peru – Online Casinos & Gambling Regulations
Playing from a regulated country mitigates a lot of risks that would otherwise be there. The government oversight and legal options available is something that can often be taken for granted when you are playing in a regulated market. This frees up a lot of time to look at the more appealing aspects of each casino, such as game selections, payment options and promotions. We would still recommend caution though and that you do an appropriate amount of research before signing up with any casino to ensure the minimal amount of risk is involved when providing a site with your personal information and payment details.
- Is the casino licensed to operate in Peru?
- Will you be able to play using sol?
- Are your preferred payment methods supported?
- Will you be able to place sports bets at the casino?
- Does the site have promotions eligible for Peruvians?
Illegitimate sites can still exist in a regulated market. The mark-up in the competition also means that there are varying degrees of value that can be dependant on your preferred play style. Finding a legitimate casino that is right for you can require a lot of busywork. At GoodLuckMate we take care of all of that busywork by providing you with clear and comprehensive casino reviews with you in mind.
Peru’s history with gambling is one that is unique, to say the least. Often countries restrict gambling activities due to the government’s stance on the social issues that can arise from misuse of the activity. 1994 saw the Peruvian government legalize online slot machines though, despite public resistance. The aim was to provide another revenue stream to the country’s economy and since the 1990s further laws have been put into effect to unbind gambling even further. 2007 saw another big change, as a 2004 study showed that a mere 5% of slot machines were legally operated. The government, therefore, took action and after some stalling from both sides, an agreement was formed. Illegal slot parlors were made to register with the Department of Foreign Trade and Tourism, which lead to a handing in of over 600 applications in the first six months. This move is what really allowed Peru to establish itself as an enticing regulated market.
Today all traditional forms of gambling are legal, including casinos, poker sportsbooks, horse racing, bingo and lotteries. This makes Peru one of the most liberal gambling markets on either of the American continents. The country regulates its market through the oversight of the La Dirección General de Juegos de Casino y Máquinas Tragamonedas (DGJCMT), which translates to the General Directorate of Casino Games and Slot Machines.
Peru is in a good position to entice online casinos to provide localized content to the country’s residents. A large population and liberal gambling laws make it a particularly noteworthy country for operators to seriously consider expanding into or developing further. South America is already a market that the industry has been interested in for many years and it has therefore become more and more common to find Spanish language options and support. The love of sports, especially football has certainly not gone unnoticed as well and you can therefore expect both major and minor Latin American sporting events to be appropriately represented. Residents of Peru can also expect a much more varied selection of welcome offers and other promotions to participate in, which is usually not the case for those living in unregulated markets.
The range of localization options might start to become less diverse for Peruvian players when looking at currency. Currencies specific to a single nation tend to be less appealing for organizations to adopt, unless that nation is one of their primary markets. It simply becomes too unwieldy for most organizations to be able to offer every single currency in circulation and they, therefore, stick to a select few. That is why most sites will have at least euros and US dollars for players to use, which also becomes a default option for those whose local currency is not supported.
This isn’t to say that there are no online casinos allowing players to deposit using Peruvian sol, it will just be fewer and further between than other features. An alternative many players are using is cryptocurrencies, as this provides a great alternative especially for those having to go through currency exchange fees anyway.
Residents and visitors of Peru have a lot of options when it comes to land-based gambling establishments. There are tens of thousands of active slot machines throughout the country, as well as various sportsbooks, lotteries, bingo, horse racing and gambling halls that cover the equally diverse country. Essentially all traditional games of chance and sports betting are legal and widely available both online and offline. All of this is a result of the Peruvian government taking an active and supportive role in the gambling industry, allowing for its citizens to enjoy the activity, while providing adequate social responsibility safety nets and oversight.
This allows the country to enjoy the benefits that regulated gambling brings with its additional tax revenues in addition to ensuring support networks are established to help those that may develop gambling issues. There is a lot of hope that most of the rest of the continent begins to follow suit in becoming more liberal with their stance on gambling. Until then, Peru will remain as one of the forerunners in the Latin American market.