Puerto Rico governor signs sports betting bill into law

Puerto Rico’s outgoing governor, Ricardo Rosselló, on 29 July signed the Betting Committee Act, which would legalize sports wagering in the Commonwealth of Puerto Rico.

Under the law,  sports betting, horse race betting, fantasy contests and betting on esports will be allowed at casinos, at the island's one racecourse, as well as at off-track betting parlors and online.

“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,” Rosselló said.

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

Read more on iGB North America.