Today, real-money gaming has become a well-established form of entertainment among Peruvian adults, with both land-based casinos and online betting flourishing as popular choices. This strong regulatory framework has allowed the industry to develop into a respected and widely accessible entertainment sector nationwide.
Online gambling, particularly sports betting, has gained significant traction among Peruvians, largely due to the country's passion for football. Online casinos are also becoming increasingly popular, offering diverse games, from slots to poker, that further enrich the digital gambling experience. Peru's regulatory landscape, designed to ensure both safety and variety, has made the market highly appealing to both local businesses and international operators looking to expand.
An expert analysis by Atlaslive delves into the current state of the Peruvian market, its growth trajectory, and the two key iGaming categories that generate the highest revenue. This comprehensive study sheds light on the unique aspects of Peru's players when compared to the broader South American region.
It provides a detailed exploration of the figures and socio-economic trends shaping the gambling industry in Peru. Additionally, the article examines the evolution of regulatory policies and highlights the defining traits of real money players in the country.
Peru's gambling market: Current scope and growth outlook
The Peruvian gaming market experienced consistent growth between 2017 and 2021, with the Gross Gaming Revenue (GGR) reaching a peak growth rate of 24.16%. This impressive rise coincided with the legalization and expansion of online gaming and betting, which attracted new players and boosted overall engagement. During this period, the introduction of innovative platforms and gaming products likely played a significant role in driving industry-wide growth.
However, since 2021, growth rates have gradually declined, reflecting a market approaching maturity. The pace of new player acquisition appears to be leveling off, indicating that gaming operators have successfully captured most of their target audience. Additional factors, such as increased competition and potential regulatory adjustments, may also be contributing to the slowdown. This trend is not unusual within the global iGaming industry and is often seen in individual markets as they mature.
Despite the reduced growth rates, total revenue in Peru continues to rise, showcasing the industry’s resilience and stability. This suggests that while fewer new players are entering the market, existing customers remain active, ensuring steady revenue streams for operators.
Compared to the broader South American market, Peru’s growth is slower, and the country is not a major player in the region’s iGaming landscape. By 2025, Peru is expected to account for just over 5.5% of South America’s total iGaming market. While not a dominant force, the Peruvian market remains promising and continues to evolve.
The significant GGR growth spikes witnessed across South America in 2020 and 2023 were largely driven by Argentina and Brazil, the region’s two largest markets. Their advanced iGaming strategies and rapid development have been the primary contributors to the region's overall growth, leaving Peru in a more supportive role within the regional market.
Peru’s Gross Gaming Revenue (GGR) is evenly divided between two key sectors: Online Casinos and Online Sports Betting. Each contributes approximately 50% to the total, creating a well-balanced market where both categories play an equally significant role. This equilibrium highlights that users are just as captivated by the variety and excitement of casino games as they are by the thrill of sports betting. Rather than one dominating the market, both sectors are growing in parallel, ensuring a stable and dynamic gaming ecosystem.
On the other hand, the online lottery sector in Peru remains a minor player, with its share of total revenue so small it barely registers on the charts. However, this doesn’t rule out its potential for growth. By 2030, online lotteries could carve out a profitable niche in Peru's gaming market. Across South America, countries like Argentina, Brazil, and Colombia are already setting an example, with higher player engagement and notable revenue figures in the online lottery category. These trends suggest that Peru could follow suit as the market matures and players explore new opportunities.
Overcoming challenges and discovering opportunities in Peru’s online gaming market
While player interest in online lotteries remains steady in Peru, it hasn’t experienced the rapid growth seen in sports betting. Across South America, the Average Revenue Per User (ARPU) currently holds steady at approximately $280-290, with a slight decrease projected shortly.
This creates a clear opportunity for innovation. By introducing fresh and engaging products, iGaming software suppliers could potentially reshape the market, especially in Peru. Innovative solutions tailored to local preferences have the potential to drive player engagement and, in turn, boost ARPU across the region.
ARPU trends in Peru’s iGaming categories and the role of technology
The Online Casino segment in Peru has demonstrated impressive and consistent growth in Average Revenue Per User (ARPU), rising from $181 in 2017 to an anticipated $513 by 2028. This steady climb reflects the popularity of this category, supported by a loyal audience that continues to increase its spending over time.
Similarly, the Online Sports Betting category has shown stable growth, with ARPU increasing from $319 in 2017 to $453 in 2028. Although it started with a higher ARPU compared to casinos, the growth rate is more gradual, and by 2028, it is projected to remain below the casino ARPU level. This could suggest slightly lower betting frequency or smaller transaction amounts in this category.
Meanwhile, the Online Lottery segment contributes minimally to the overall ARPU. This could be due to a narrower product offering or less interest in the online lottery format compared to the more dynamic appeal of casinos and sports betting.
To support operators in capturing opportunities across all categories, the Atlaslive iGaming Platform offers a versatile and robust solution. With features like sportsbook software, a casino boasting over 15,000 games, virtual games, and lottery options, it delivers diverse, localized content to attract players and maintain engagement.
The platform is highly customizable, enabling operators to tailor the gaming experience to meet the specific preferences of their audience. It also includes over 250 integrated payment solutions, ensuring fast and secure transactions. Fully compliant with industry regulations, Atlaslive provides operators with a reliable and adaptable all-in-one system that fosters growth and success in today’s competitive iGaming market.
Comparing ARPU and player base: Peru vs. South America
Peru’s ARPU growth is steady but notably slower compared to the broader South American region. This disparity could be attributed to social and financial constraints among Peruvian players or a comparatively lower interest in specific gambling categories. By 2025, Peru’s ARPU is projected to reach $518—approximately 18.7% below the regional average—and by 2028, this gap is expected to widen to over 30%.
While Argentina will also have a lower ARPU in 2025, its Gross Gaming Revenue (GGR) impact will far exceed Peru’s due to its significantly larger player base—Argentina’s total unique players (4.6 million) are nearly seven times greater than Peru’s (0.67 million). For Peru, GGR growth in 2025 will be primarily driven by the increasing number of unique players, accounting for 66.5% of the growth, rather than by ARPU improvements.
Although the number of unique players in Peru continues to rise, the growth rate is slowing, signaling a maturing market. The Online Sports Betting segment remains the most promising, with strong user appeal. Meanwhile, Online Casinos show potential for further growth, particularly if innovation and active development are prioritized. While Peru represents one of the smallest markets in South America in terms of player numbers, it still accounts for 7% of the region’s total player base.
Despite lower GGR and ARPU levels, Peru boasts one of the highest iGaming penetration rates in South America, just slightly below the regional average. This indicates untapped potential for further development, especially in Online Sports Betting, which continues to attract a growing number of users.
The Atlaslive Sportsbook Platform provides a ready-to-use solution for operators aiming to launch or enhance their online sportsbooks. With an integration process that can be completed in as little as two days, the platform includes a comprehensive set of tools, such as risk management, CRM, a bonus engine, payment systems, and business analytics. These features are designed to help operators boost player engagement and optimize revenue efficiently, making it a valuable asset in Peru's evolving iGaming market.
Key milestones in Peru’s gambling regulation evolution
Peru’s journey to establishing its gaming laws is a testament to strategic planning and consistent growth. It all began in 1979 when Peru made a pivotal move by legalizing land-based casinos. This decision didn’t just create an industry—it set the stage for a regulated, thriving gaming market with long-term potential.
Fast forward to the 1990s, and Peru took further steps to strengthen its gaming framework. The introduction of industry-specific taxes, advertising regulations, and a connection between gaming and tourism demonstrated a forward-thinking approach. These measures ensured the industry wasn’t just lucrative but also ethical and integrated into the broader economy.
The real game-changer came in 2008 when Peru became one of the first countries in Latin America to issue licenses for online gaming. This bold initiative marked the country’s readiness to embrace digital transformation in the gaming sector. By 2022, Peru had successfully unified all forms of gambling under a comprehensive regulatory framework, and in 2024, it completed the process by implementing a full licensing system.
Today, Peru boasts a mature, well-regulated gaming market. The country has found the right balance between innovation and player protection, ensuring sustainable growth. Peru’s gaming story isn’t just about expansion—it’s about creating a framework that fosters responsible growth and keeps the industry both dynamic and orderly.
The current state of gambling regulations in Peru
In response to rising demand and a thriving market, Peru has taken significant steps to strengthen its gaming regulations. The aim? To ensure fair taxation and maximize public benefits while fostering a sustainable industry.
In 2022, Laws N° 31557 and N° 31806 brought much of the gaming sector under a unified regulatory framework. This was followed by Supreme Decree N° 005-2023 in 2023, which set clear guidelines for online sports betting and real-money gaming, offering the industry greater clarity and structure.
As of mid-February 2024, online casino operators are required to hold a valid DGJCMT license to operate legally. These regulations outline stringent standards and processes for obtaining and maintaining licenses. With an emphasis on compliance, the penalties for violations are severe, ranging from fines of up to $260,000 to permanent bans from the market.
The road ahead for Peru’s iGaming market
Peru’s gambling market demonstrates a firm commitment to both regulation and innovation. The recent legislation encompasses traditional and digital gaming, enabling the real-money sector to mature steadily and establish a solid foundation for future growth.
Atlaslive is deeply engaged in navigating the South American iGaming landscape, focusing on the distinct characteristics of each country in the region. By staying updated on regulatory changes and adhering to all legal standards, Atlaslive ensures secure and compliant operations. The company leverages its understanding of market trends, challenges, and opportunities to fine-tune its software solutions, delivering technology that meets the specific needs of operators and players alike.
Atlaslive — the tech behind the game.
Source: Atlaslive
