Market Scenario 

Peru gambling market was valued at US$ 2,723.37 million in 2024 and is projected to hit the market valuation of US$ 7,586.42 million by 2033 at a CAGR of 12.54% during the forecast period 2025–2033.

Peru's gambling market is expanding rapidly and this surge is fuelled by digital penetration, with 73% of Peruvians (urban areas) using smartphones, enabling seamless access to online platforms. Regulatory clarity under Supreme Decree 026-2023, mandating licensing for online operators, has formalized the sector, attracting foreign investments like Betsson’s localized platform launch (2023). Sports betting dominates, capturing 42% of sector revenue, driven by football culture—evident in partnerships such as Apuesta Total’s sponsorship of Peru’s Liga 1. The middle class (40% of Lima’s population) and young adults (18–34 years, 60% of gamblers) are key consumers, spending ~$25 monthly on average. Informal gambling persists, but tax contributions (12% of sector revenue) incentivize regulation.

Online gambling accounts for 44% of the market, with platforms like Zitro and Betano integrating AI-driven personalized odds and live-streamed casino games. Mobile wallets dominate transactions: 60% use Yape or Plin for deposits due to Peru’s cashless shift post-COVID. However, offline venues remain relevant, contributing 56% of revenue to the gambling market through integrated resorts (e.g., Atlantic City Casino, Lima) and retail betting kiosks in high-traffic zones like Plaza Norte. Niche markets, such as bingo halls in Arequipa and Cusco, cater to older demographics (45+ years), while hybrid models (e.g., Casino Dreams’ app-linked loyalty programs) bridge digital-physical engagement. Tourism sustains land-based demand, with casinos in Miraflores and Trujillo reporting 15% footfall growth in 2024.

Blockchain adoption (notably by Betsson for transparent payouts) and VR casinos are redefining user experiences. Esports betting, though nascent, grew 30% YoY in 2024, with platforms like DoradoBet hosting Counter-Strike tournaments. Domestic operator in the gambling market Jugabet leads in lottery digitization via WhatsApp-based ticket sales, reflecting Peru’s 75% mobile-first gambling transactions. Major players include Spain’s Codere (physical casinos), Chile’Zitro (slot machines), and Grupo Caliente (sportsbooks), while local startups like Oja.la target micro-betting (<$1 stakes). Challenges like tax evasion in informal juegos de envite persist, but Peru’s focus on compliance and tech integration signals sustained growth, particularly in underserved regions like Loreto, where 3G coverage reached 65% in 2024. 

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Market Dynamics 

Driver: Thriving iGaming Demand Driven by Sports Betting and Casino Games

Peru’s iGaming sector in the gambling market is anchored by sports betting, which dominates 65% of online gambling activity (Q1 2024), driven by football’s cultural dominance and localized event markets like the Copa Libertadores. Regulatory upgrades, including stricter anti-money laundering (AML) checks via Peru’s Financial Intelligence Unit (UIF), have reduced cash-based fraud by 18% YoY, incentivizing operators like Betsson to expand their sportsbook inventory. However, casino games now outpace sports betting in growth, with slots and live dealer tables surging 28% YoY (vs. 22% for sportsbooks). This shift is fueled by cross-border players from Bolivia and Colombia, who are drawn to Peru’s favorable exchange rates and licensed platforms. For instance, Malta-based Zitro derives 40% of its Peru revenue from casino verticals, while live poker tournaments drive 10% of daily user activity.

Despite progress in the gambling market, reliance on cash persists—77% of deposits are processed via PagoEfectivo or physical agents—a friction point hindering digital wallet adoption. Telecom providers like Claro and Entel compound this bottleneck, controlling 82% of mobile iGaming traffic and prioritizing partners with revenue-sharing agreements. Simultaneously, compliance costs for geolocation tools (mandated since 2022) have forced 30% of offshore operators to exit, benefiting Spain-linked firms like Codere. To compete, domestic platforms must address loyalty gaps: only 12% offer tiered rewards programs, despite data showing high-value users spend 3x more when engaged via personalized incentives.

Trend: Accelerating Shift Toward Online Platforms Overshadowing Traditional Gambling

Traditional casinos are struggling in the gambling market in Peru, with Lima’s iconic Casino Crillón reporting a 19% drop in foot traffic (Q1 2024), mirroring a nationwide 11% decline in land-based revenue. This shift is irreversible: online gambling now contributes 54% of GGR (up from 37% in 2022), as cheap Android devices (68% penetration) and TikTok bet-related hashtags (#ApuestasPerú: 43M views in 2023) democratize access. Recognizing the trend, operators like Recreativos Franco are deploying hybrid “kiosks” that blend retail and digital touchpoints; 24% of users now place combined bets, spending 2.5x more monthly than single-channel users.

Regulatory alignment is accelerating this transition. The Ministry of Tourism (Mincetur) now permits national online ads, bypassing municipal bans that once stifled growth in the gambling market. However, infrastructure gaps persist: latency issues in provinces caused 33% of live-betting users to abandon sessions in late 2023. Partnerships like Entel’s February 2024 AWS deal have slashed lag by 72% in Lima, but rural areas—29% of the population—remain underserved due to fragmented ISP networks. Stakeholders must leverage Peru’s ongoing 5G rollout (targeting 65% coverage by 2025) to support high-frequency trading tools and capture users exploiting cross-border arbitrage opportunities in Andean markets.

Challenge: Persistent Problem Gambling Risks Despite Regulatory Safeguards

Problem gambling remains a structural risk in the Peru gambling market, affecting 4.3% of adults (Minsa, 2023), with the state’s self-exclusion registry (Jugadores Anónimos) failing to curb harm: just 14% enroll, and 78% relapse within a year. Worse, gray-market apps like 1xBet exploit VPNs to circumvent loss limits, directly targeting excluded users. This has commercial implications: 34% of operator revenue derives from the 9% of users flagged as “addicted” in MINCETUR’s 2024 behavioral study.

Regulatory underinvestment compounds the crisis. The $8M Problem Gambling Fund (PGF)—funded via operator levies—remains 70% unspent due to bureaucratic delays in certifying treatment centers. AI-driven responsible gaming (RG) tools, mandated since 2023, also underperform: they flag only 21% of at-risk users (vs. 45% in Colombia) in the gambling market due to inadequate cultural customization for Quechua-speaking demographics. Immediate action is needed, such as integrating local risk markers (e.g., betting during fiestas patrias) and blocking predatory SMS spam—a tactic linked to a 210% post-pandemic surge in loan shark activity. Without these fixes, Peru risks replicating Chile’s 2023 debt crisis, where problem gamblers accounted for 41% of industry defaults.

Segmental Analysis 

By Type

Sports betting’s 39.29% market share in Peru gambling market is deeply rooted in the nation’s obsession with football, which transcends mere entertainment to become a cultural cornerstone. The Peruvian Primera División (Liga 1) attracts over 6 million TV viewers per match, creating a fertile ground for betting engagement. Operators like Apuesta Total and Betsson have capitalized on this fervor through strategic sponsorships, embedding their brands in team jerseys and stadiums. During the 2024 Copa Libertadores, Betsson reported a 35% spike in wagers, driven by live odds updates and app notifications tied to goal-scoring moments. Beyond football, volleyball (15% of bets) and basketball (10%) are gaining momentum, reflecting the popularity of Peru’s national teams in regional tournaments. The recent Pan American Games in Santiago, for instance, saw 120% YoY growth in volleyball bets on platforms like DoradoBet.

The gambling market’s growth is also bolstered by mobile technology adoption and regulatory advancements. With 73% of Peruvians accessing the internet via smartphones, sportsbooks like Betano prioritize app-first features such as live streaming and in-play betting. Supreme Decree 026-2023, which mandates operator licensing, has legitimized platforms, reducing fraud and attracting users previously reliant on informal street bookies. These juegos de envite (informal betting rings), prevalent in Lima’s La Victoria district, now face decline as online platforms offer better odds and instant payouts. Younger demographics (18–34 years) drive this shift, with 85% of their bets placed digitally, compared to 40% for those aged 45+. Regulatory reforms have also enabled operators to partner with banks, ensuring seamless transactions and fostering trust—a key barrier in cash-dominant markets.

By Channel 

Offline gambling’s 56% revenue share in the gambling market reflects Peru’s cultural affinity for social gaming and tourist-driven demand. Land-based casinos like Lima’s Atlantic City and Casino Fiesta in Arequipa blend gaming with entertainment, generating $180–$200 million annually through slot machines (60% of floor revenue) and poker tournaments. These venues thrive on tourism, which rebounded to 4.2 million visitors in 2023, with casinos ranking among top leisure destinations. Holiday events like the Sorteo Navideño lottery, which sold 8 million tickets in December 2023, highlight offline’s cultural staying power. Retail betting kiosks in commercial hubs (e.g., Plaza San Miguel) cater to older, cash-reliant demographics (45+ years), who perceive physical tickets as “safer” than digital transactions.

However, online platforms in the gambling market are steadily eroding offline dominance through hyper-convenience and niche market targeting. Hybrid models, such as Zitro’s Link King slots—which sync physical machines with app jackpots—allow players to transition seamlessly between venues and devices. During Liga 1 matches, 35% of bets are now placed online, up from 18% in 2022, as platforms like Jugabet offer real-time odds and same-day withdrawals via apps. Operators are also addressing regional disparities: Betsson’s 2024 marketing campaign in Cusco and Arequipa, featuring local football heroes Paolo Guerrero and André Carrillo, boosted online registrations by 40% in these areas. Despite this, offline venues retain relevance through exclusive perks like VIP lounges and cashback rewards, which appeal to high rollers spending $500+ per session. Bingo halls in working-class districts (e.g., Comas in Lima) also endure, offering low-stakes games ($1–$5 per card) that align with localized spending habits.

By Payment Method 

Credit/debit cards’ 44% payment share in the gambling market reflects Peru’s fragmented financial ecosystem and operator-driven incentives. While 57% of Peruvians remain unbanked, card usage is concentrated among urban middle-class bettors (30% of gamblers), who average $70–$100 monthly deposits. Operators strategically reward card users: Betano’s “Card Bonus” program, offering 15% extra funds for Visa/Mastercard deposits, increased card-based transactions by 28% in Q1 2024. Regulatory measures, like mandating 3D Secure authentication, have also reduced fraud rates to 0.5%, enhancing user confidence.

The dominance of cards in the gambling market is further reinforced by offline casino policies and high-value transaction trends. Land-based venues enforce card-only payments for amounts exceeding $50, aligning with anti-money laundering laws. Meanwhile, online platforms process 65% of card transactions above $200, as high rollers prefer credit lines for sustained play. Mobile wallets like Yape and Plin (35% share) are growing but primarily serve smaller deposits ($5–$20), leaving cards as the default for serious bettors. Informal cash betting persists (30% share), especially in regions like Piura, but operators are bridging this gap via partnerships with convenience stores. For example, DoradoBet’s 2023 tie-up with Oxxo enabled cash-to-digital top-ups at 2,400 locations, converting 15,000 cash users to hybrid bettors within six months.

By End Users

Gambling enthusiasts—defined as users placing 5+ weekly wagers—drive 64.02% of sector revenue due to Peru’s competitive gaming subculture and disposable income growth in the gambling market. The gambler population is estimated at 5.2 million (2024), with enthusiasts (2 million) spending $100–$150 monthly—three times the casual bettor’s outlay. This group skews male (70%) and is concentrated in urban hubs: Lima alone accounts for 45% of enthusiasts, drawn to sportsbooks and hybrid casinos. Retention strategies are critical: Codere’s “Club Premier” loyalty program, which rewards points for frequent betting, has reduced churn by 20% since 2023.

Emerging niches in the Peru gambling market, like esports betting, are reshaping the enthusiast base. Platforms like Estelabet reported a 45% YoY surge in Counter-Strike and Dota 2 wagers in 2024, driven by Twitch-integrated betting features. Northern regions (e.g., La Libertad) show unique trends: enthusiasts here spend 12% more per capita than Lima counterparts, likely due to fewer entertainment alternatives. However, risks like addiction loom large—12% of enthusiasts exhibit problematic behavior, per a 2024 MINSA study—prompting regulators to mandate deposit limits and self-exclusion tools on licensed platforms. This duality of opportunity and risk defines Peru’s enthusiast-driven market, where operators must balance profitability with social responsibility.

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Top Players in the Peru Gambling Market

• La Tinka S.A
• Apuesta Total
• Betsson
• Bet365
• Betfair
• Other Prominent Players

Market Segmentation Overview

By Type

• Sports
  • Fixed Odds Sports Betting
  • Pari-Mutuel Betting (Horse and Dog racing)
  • In-Play/Live Betting
  • Exchange Betting
  • Spread Betting
  • Others
• Casino
  • Blackjack
  • Baccarat
  • Teen Patti
  • Three Card Poker
  • Four card poker
  • Red Dog
  • Others
• Lottery Games
  • Scratch-offs
  • Bingo
  • Keno
• Electronic Gaming Machines
• Others

By Channel Type

• Offline
  • Casinos
  • Betting shops/halls
  • Arcades
  • Bookmakers
• Online
• Virtual Game

By Payment Method

• Credit and debit cards
• E-wallets
• Prepaid cards and Vouchers
• Bank Transfers
• Cryptocurrencies
• Others

By End User

• Gambling Enthusiast
• Dabblers
• Others