Both the Senate and House in Puerto Rico have passed HR 2388, which will legalize online and land sportsbetting in the U.S. territory.
The bill will create a Gambling Commission in Puerto Rico, which will be run by an administrator that has at least five years in business. Operators looking to be licensed will have to pony up at least $50,000 for large operations, with individual PoS locations having a $2,500 fee. Taxes will run at 7% for land-based venues, while online wagers will be taxed at 12%.
The activity will be restricted in where it can be offered, as venues must be further than 100 meters from churches, schools, and rehab facilities.
As of press time, we don't have a date for the launch of the activity, but we'll be following developments and updating readers as we learn more.