August 18, 2020

Puerto Rico takes steps towards sports betting regulations

Puerto Rico takes steps towards sports betting regulations

Puerto Rico—The Caribbean country has taken a step towards introducing legal sports betting more than a year after it legalized the vertical, starting a 30-day consultation on sports betting regulations developed together with Gaming Laboratories International (GLI).

Puerto Rico’s then-governor Rico Rosselló Nevares approved the legislation in July last year, right before he resigned amid a scandal over comments he made on the messaging app Telegram to members of his staff.

Significant changes to the potential regulatory framework for gambling have already been in place this year. Jaime Alex Irizarry, Puerto Rico’s Tourism board gambling director, resigned in April before the new governor Wanda Vásquez Garced appointed Josê Balasquide-Córdova and Cristóbal Méndez to take charge on the establishment of a new and dedicated gambling authority.

GLI was then called on to consult on creating sports betting regulations in May.

The regulations developed together with GLI include the 7% gross gaming revenue tax on land-based betting, and 12% gaming revenue tax for online betting. Fantasy sports operators, on the other hand, will be imposed a tax equal to 12% of contest entry fees.

When it comes to where betting can be offered, betting and fantasy contests may be organized in casinos, inns, hotels without casinos, horse betting agencies, racetracks, shops, and any other venue which the Puerto Rico Gaming Commission considers safe, viable, and secure. There seems to be no tethering requirement for online and mobile betting.

In addition to betting and fantasy contests on any professional or collage sport, players will be allowed to bet on esports, covering real-time strategy, electronic sports games, fighting, or first-person shooter games.

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