Emerging markets & culture
than five previous bills presented by different congressmen and others in the Executive Branch. It implies the beginning of the regulation of a sector that will generate a considerable number of jobs. It makes possible a generous revenue stream for the State and promotes an activity that needs to be regulated given its particular characteristics. By taking this first step, Peru has put itself on an equal footing with other countries in the region and the world. It now has a regulatory regime to attract domestic and foreign investors wishing to expand their operations in fully regulated markets. It will give them confidence they are doing so under a stable regulatory framework with the necessary legal safeguards. The regulations will be applied and overseen by MINCETUR, the Ministry of trade and foreign affairs of the Peruvian State and the promotion of tourism in Peru. MINCETUR is one of the most respected ministries in Peru with extensive experience in regulating games of chance and betting. It has been the competent authority authorizing the operation of casinos and slot parlors in the country. It has several decades of regulatory experience and is a solid entity with respect for procedure. PROVISIONS OF THE NEW LAW This does not mean that the rules, and especially the ones under comment, do not require certain adjustments to achieve the desired objectives. In this brief report we will comment on the main points of the Bill and highlight some that require modification: l . The regulation states that legal entities incorporated in Peru and branches established in Peru may request an authorization for the exploitation of technological platforms for remote games or remote sports betting. However, it also provides for persons incorporated abroad who may request an authorization for the exploitation in Peru of technological platforms of remote games and/ or remote sports betting. 2. Authorizations are granted independently and are valid for a term of six calendar years, and renewable for the same period. These authorizations are individual and non-transferable and are obtained based on technical, legal, economic, financial and background reports. 3. Exploitation of the platforms must be carried out using a web domain authorized with the extension bet.pe. on platforms authorized by MINCETUR. 4. The technological platforms of remote games or
remote sports betting, gaming programs, progressive systems, payment gateways and main components and / or services, will be subject to authorization and registration (homologation) in accordance with requirements and conditions to be established in the regulations, and must have a Certificate of Compliance issued by one of the authorized certification laboratories. 5. Authorizations and registrations granted to platforms will be valid for a term of two years and renewable for the same period. Game programs, progressive systems, payment gateways and main components and / or services will have an indeterminate term of validity. 6. The operation of remote sports betting and gambling will be authorized to legal persons constituted in Peru, without prejudice as to whether it is the same legal person holding the authorization of a technological platform, or another related legal entity. The authorization is granted in respect of an authorized and registered platform, if it has previously been the subject of an operating authorization granted by MINCETUR. 7. The valid term of these operations is limited to the exploitation term of the technological platform of remote sports betting and is granted with respect to a gaming room and a technological platform. 8. Chapter II of the Law regulates issues related to the verification of player status, betting, progressive systems, bonuses, means of play and payment. 9. A player is defined as a natural person of legal age, of Peruvian or foreign nationality resident in the country registered on the technological platforms of remote games or remote sports betting. In the case of foreigners, the player must have residency status in the country in accordance with migration rules. 10. In relation to bets, their acceptance, modalities or types is regulated, along with the conditions in the case of the technological platforms for remote games. Only those games authorized and registered by MINCETUR and only sporting events that are part of a national or international sports federation or league can be subject to a bet. 11. In relation to progressive systems, the rule states that the prizes charged to these systems cannot exceed 60 percent of the amount of the guarantee that is due to them. 12. The means of play can be via personal computers, mobile phones, and any other personal electronic devices
IMGL Magazine • November 2022 • 55
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