In 1920, Peeters became amateur world champion in track cycling. One day later he rode the Olympic 1000 m sprint, and of course he was considered a favourite. He lost in the first round, but his second place was enough to progress to the next round. He then won the quarter final and the semi-final. In the final, he rode against two British cyclists, Harry Ryan and Tiny Johnson. They tried to make use of their numerical advantage, and Ryan attacked, so that Peeters had to get him back. In the final corner, Johnson should came around the corner to win the race, but Peeters was ahead and kept his lead. After having won the gold medal at the 1920 Summer Olympics in Antwerp (1000 m sprint), he captured the bronze medal four years later in the 2000 m tandem competition, alongside Gerard Bosch van Drakestein.