Puerto Rico Looking to Legalize Sportsbetting

This story was published more than 1 year ago.

U.S. territory Puerto Rico is reportedly looking to legalize sportsbetting as a way to protect bettors and generate millions in tax revenue annually.

The governor of the territory Ricardo Rosello announced a bill this week that was drafted by Representative Nestor Alonso Vega that would legalize wagering on sports. The bill would create a series of rules for obtaining licenses and offering the wagers, while also forming a new Gaming Commission that would work to oversee the market and enforce rules. It's widely believed that sportsbetting would generate between $44 million to $66 million in tax revenues each year.

Speaking about the prospect of sportsbetting Governor Rosello said, "This industry has the potential to convert Puerto Rico into a jurisdiction in the vanguard of allowing the establishment of this new model, which will have a positive effect on our economy. We have worked on aggressive legislation that aspires at being able to market the island at the international and national levels as an attractive destination for the millions of people who bet on sports events."

"[On] the social aspect, the legislation provides for all the security safeguards to exist in order to guarantee that children under 18 do not participate in these games. It will also firmly address those problems of gambling addiction that may arise. These matters are a priority, as well as providing adequate control to avoid money laundering and tax evasion."

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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bgsharpe
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18 April 2019 - 12:59pm
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I think that would make Puerto Rico quite an attractive betting destination for the US tourist but I guess for the rest of the world when the sportsbetting is not legalized as well.