The Peruvian sports betting and gambling industry is emerging as a highly attractive and promising hub in Latin America. Peru offers a vast potential for entrepreneurs looking to tap into the region's growing passion for gaming and entertainment. However, entering this market comes with its set of challenges.
The executive of Sporting Risk, Andy Phillips, has described the Peruvian gambling industry's special features and discussed its current advantages and complications.
Benefits of the Peruvian Casino Market
Here, you can learn about the appeal of the local sector and every aspect of it.
Regulatory Landscape
Mincetur governs the current scene of sports betting in Peru. Companies aiming to establish themselves in this market are required to obtain authorisation from this ministry.
Moreover, foreign operators need to:
- set up a physical branch;
- use the domain «bet.pe» for their online resources.
Licensing can be obtained for six years. The documents are also renewable.
Market Size
The online gaming sector in Peru was valued at $ 286 million in 2019, as Ernst & Young research has reported, and it is projected to reach $ 439 million by 2023.
A significant driving force behind this rise includes:
- growing internet presence;
- smartphone popularity;
- disposable profit of the audience.
Furthermore, the prominence of sports betting plays an important role in this market's expansion. Football constitutes approximately 70% of total turnover, followed by other competitions like tennis, basketball, and volleyball.
Penetrating the Market
Seeing the considerable size and potential of the Peruvian industry, it is no surprise that numerous entrepreneurs are keen to enter or expand their footprint in this territory. However, success in this market necessitates bringing a diverse and tailored product that resonates with the preferences and expectations of the locals. A good strategic approach is to focus on the most popular sport, and football stands out as the focal point.
Football Enthusiasm in Peru
The landscape of Peruvian football is experiencing an upswing because of increased investments in the top division, Liga 1.
Due to this, there are:
- better facilities;
- more skilled coaches;
- experienced punters.
As a consequence:
- more Peruvian players have ventured into European leagues;
- the national football team has qualified for the last two FIFA World Cups;
- domestic clubs have shown better performance in continent-wide tournaments.
One distinctive aspect of the Peruvian Primera División is that it runs during the summer months, making it ideal for balancing revenues throughout the year.
The football league in Peru spans from February to December, featuring 19 teams competing in Apertura and Clausura. Four of the best squads then participate in playoffs to determine the winner. Interestingly, Peru's competition is less predictable than its European counterparts, with no team securing back-to-back championships since around 2000.
Differentiation Strategy
Recognising the unique characteristics of the local football scene, operators can set themselves apart by offering specialised betting markets that cater to the distinct preferences of Peruvian punters.
One such avenue is player prop solutions, which are immensely popular among those seeking more engagement and control over their stakes. They allow enthusiasts to wager on individual performance or statistics within a match.
Challenges and Prospects
While catering to local betting markets can be rewarding, it comes with its set of challenges. It demands access to accurate and reliable data, along with an in-depth understanding of players and teams. However, the industry continues to grow, with increasing turnover and a steady surge in interest.
Peru presents compelling prospects for sports betting and gaming operators who are eager to establish or expand their influence in Latin America. Entrepreneurs must craft distinctive and personalised solutions to succeed in this competitive landscape.
It should preferably revolve around the Peruvian football league, focusing on player-prop betting markets. This strategy allows operators to stand out and thrive in a dynamic and evolving environment.
Casino Market offers sport-themed games and high-quality bookmaker software from reliable providers for sale. Contact our managers for more detailed information.
Have questions or want to order services?
Contact our consultants:
- e-mail: manager@casino-market.com
- Skype: support.casinosupermarket
- feedback form.
Check the information used to contact us carefully. It is necessary for your safety.
Fraudsters can use contacts that look like ours to scam customers. Therefore, we ask you to enter only the addresses that are indicated on our official website.
Be careful! Our team is not responsible for the activities of persons using similar contact details.
