(Newswire.net — September 27, 2018) — If you regularly check online casinos’ licensing details, you may have noticed the label MGA. It refers to the Malta Gaming Authority; one of the most reputable regulatory bodies for gambling platforms.
Away from Europe, Peru is one of the Latin America countries building a hub for online gaming. Following the footsteps of its Caribbean counterparts, Peru has been opening doors for all types of online casinos. Here are ways the South American country is shaping up to become the new Malta in attracting online casinos. Currently, almost all countries of the world play online casinos, and among the popular European casinos there is also https://casinozonderidin.net, it is easy to use and also allows new players to receive bonuses.
Quick Registration Processes
For a long period of time, casinos of all types have been operating in Peru without licensing. The industry was neither legal nor illegal. In 2017, the country’s government introduced new rules that demanded every gambling platform get licensed or cease to operate. Land-based companies rushed to get registered and soon their online counterparts followed.
By September 2018, there were clear registration laws for all types of casinos, including online platforms. Where it took months to get a license, gambling firms in Peru can get registered and start operating within several days. Sports bookies, horse race casinos and conventional slot companies can all get the licenses and serve both Peru citizens and gamers from the rest of the world.
Lenient Tax
Like Malta, Peru has been attracting online casinos with low taxes, starting at 12% for local operators. While not the lowest rate, it’s much better than the 50% or more operators have to pay in Europe and the UK.
Peru faces stiff competition from its Latin neighbors such as the Cayman Islands. But with a growing middle-class, the country is luring operators looking for a large market audience. The country has a population size of 31 million. Most of them are employed and enjoy occasional gambling.
Peru’s tax system differs from that of Malta in some ways. Instead of tax betting companies differently from regular casinos, each gambling platform pays a fixed percentage of their income. The highest tax rate is 30% for online casinos that do business with foreign software providers. Home-grown operators pay the lowest amounts of tax.
With the taxes being generally low, online casinos obviously want to set base in Peru. They save more money and get the licensing needed to establish their businesses to the world.
Great Business Location
Peru is the second best country for businesses in South America as per reports by a German research center. Uruguay leads the region while Peru closely follows. For more than a decade, Peru has been a politically stable country.
The country’s major cities have been growing above world average rates. Lima is the capital city and attracts the highest number of casino bases. Live casino online gambling platforms may not benefit much from the country’s peace but there is a huge market to be tapped.
With a growing population, there is available labor in Peru, especially for technical support. In recent years, the country has been vibrant with tech innovations. Peru-based Universities produce thousands of software engineers and IT specialists, making the country a tech hub.
Closeness to Brazil
In March 2018, Brazilian authorities rejected a bill seeking to legalize gambling in the country. It was not the first attempt to legitimize gambling in the country. However, that didn’t have any effect to the huge number of Brazilians that engage in illegal gambling.
Of course, with gambling being illegal, Brazilian gamers face lots of challenges. Scams are rampant in the country and getting caught can land you in jail. Peru is keen to capitalize on the large Brazilian market.
By licensing gambling platforms, Peru is creating a safe space for Brazilian bettors that risk losing money while gambling with unknown casinos. The Peru-casino industry is still new but it is becoming popular among Brazilians. With the two nations being close neighbors, casino fans can flock to land-based platforms or access casinos online.
Peru’s Love for Sports
Peru is famous for its delicacies, the lost city of Machu Picchu and its diverse people. When it comes to sports; football dominates in popularity. Since the beginning of the 20th century, the country has engaged in world competitions. From the world cup of 1930 to the 2018 competition, the country has been to more world cups that many of its neighbors.
With sports betting growing in popularity at a large rate, the country’s love for sports will help increase the nascent industry. Peru’s local football league is considerably developed but the country is also influenced heavily by European football. It comes as no surprise, therefore, that large Europe-based betting firms are establishing themselves in the South American nation.
UK-based betting firm Betsson was the first to penetrate the Peruvian market. By 2015, there were dozens of betting companies seeking to license in the country. Three years later, sports bookies from all corners of the world have been getting licenses in Peru.
Better Policies for Online Operators
Land-based casinos in Peru are mandated to have offices in the country. They must use Spanish as their primary language and all their payments should be done using the local currency, Sol. Online operators are exempted from the policies and can use the U.S. dollar for all payments.
While they may incorporate Spanish to attract the local market, gambling firms can use any languages they choose after getting licensed. Foreign companies with no interest in working in Peru can get their licensees. The only requirement is to pay licensing fees and local taxes.
On the downside, online operators pay slightly higher amounts of taxes compared to land-based casinos. But it’s a still a better deal due to the convenience and ease of doing business they get in return.
To Conclude
Peru has a long way to go before reaching Malta’s level in attracting the best gaming companies. But the country’s casino industry is fast growing. After its legalization in 2008, dozens of foreign online casinos have sought the country’s licensing.
Low fees, a good business environment, and a growing local market are some of the reasons online casinos are increasing in Peru. The government is committed to helping the industry grow, meaning, more casinos will continue setting offices in the country. Peruvian gamblers will have more platforms to gamble on and the government’s annual revenue will increase.