The abc cassinoPeruvian gaming market sees increased interest, displaying great growth potential for casino and sports betting.

It was very recently that Peru became one of the first three countries in South America to regulate online gambling.

The new legislation came into effect on February 9, 2024, and has caused quite a stir among players and operators. With the changing landscape, operators have expressed interest in joining Peru's gaming market.

In this article, we examine what makes Peru one of the hottest regions for online gamblingin 2024.

New legislation

With the new legislation, all operators who wish to operate in the region need to apply for a license which enables them to legally offer their services within the country. According to Juan Carlos Mathews, the Minister of Foreign Trade and Tourism in Peru, this is an important step as it’s the first time economic activity has been regulated in the country.

For operators who have already been active in Peru, a one-month window was given between February 10 and March 10, 2024. During this time, they could submit their license applications ahead of other interested parties.

Interest in the Peruvian gaming market has been off the charts, especially considering that they received about 145 license applications within the first 30 days. These applications came from national and foreign operators, a clear indication of the potential and growth the market has to offer.

Why is Peru so popular?

There are many reasons the Peruvian market is gaining interest and attracting operators worldwide. The first is the favourable environmentcreated by the regulations, plus the welcoming embrace of gaming.

Another alluring fact is the number of tech-savvy users and the younger population's interest in mobile gamingand mobile casinos. The strong sports culture also makes sports and esports betting a sought-after commodity. In terms of casino gameplay, the Peruvians really seem to enjoy online slots, poker, and roulette.

The gaming sector focuses on secure gaming, utilising Fintech solutions and transparencythrough casino payment options like cryptocurrency, leading to the rise of crypto casinos in the area.

Another big trend is the rising interest in live casino gaming. These are all elements contributing to the popularity of the Peruvian gaming market.

Betsson success story

Betssonreceived its first Peruvian gaming license on June 26, 2024, which allows it to offer sports betting and online casino servicesunder the new regulatory framework.

Betsson is not exactly a stranger in the country. It has been offering its services in Peru since 2008 and has continued to expand its operations by launching new brands and acquiring existing iGaming and sports betting entities, including its most popular casino operators, Betsson Casino & Betsafe Casino.

Betsson got its license to operate legally within the newly regulated market. The permit allows for online and sports betting offerings from both Betsson and Betsafe. It is expected that they will obtain licensing for their Inkabet brand soon.

Pontus Lindwall, president and CEO of Betsson AB, says, "We have really looked forward to Peru introducing a local regulation and are very pleased with the issuing of these licenses. With this announcement, we affirm our commitment to the local economy and the new regulatory framework in the country."

Aside from Betsson, other impressive operators have gained access to the Peruvian gaming market. Some newly licensed operators include Booming Gamesand 7777 Gaming.

With the Peru Gaming Market still finding its feet, it will be interesting to see how it grows, develops and expandsin the months to come. Stay up to date with all the latest developments here on CasinoWow.

Published: July 31, 2024