Governor of Puerto Rico passes betting bill into law

Puerto Rico’s outgoing governor, Ricardo Roselló, signed the Betting Committee Act on July 29, which will legalise sports wagering in the Commonwealth of Puerto Rico.

Under the law, sports betting, horse race betting, fantasy contests and betting on esports will now bet allowed at casinos, at the island’s one racecourse. In addition, it will also be available at off-track betting parlours and online.

Rosselló said: “By signing this law, we are getting ready to witness the potential it provides to transform Puerto Rico into a vanguard jurisdiction, while benefiting the local economy.

“With this legislation, the island will be able to market itself nationally and internationally as an attractive destination for sports betting events.”

According to a report from the Innovation Group and commissioned by the Puerto Rican Chamber of Commerce, it has estimated revenues to the Government which could be $29m for 2020, $51m for 2021 and is expected to reach $87m by 2024.

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