Published: 05.08.2019, 17:24
2 min read
Whether it’s about legacy or destruction to the further generation, the outgoing Puerto Rico governor has signed the betting bill into law. Riccardo Rosello put his signature on the Betting Committee Act to permit gambling on the island territory. The approval of the gambling legislation was the last assignment of the embattled governor who later left the office amid protest of massive corruption.
The law is set to allow comprehensive gambling in the commonwealth state with an immediate effect. Sports betting, fantasy contest, and horseracing betting will be now legal on the island. Furthermore, betting on e-sports will be allowed as a result of the approval.
The law creates several platforms for gamers to experience their activities. Horseracing will be available at a single horserace, but e-sport will be conducted in the casinos. Besides, the law will permit off-track betting parlors and online platforms.
While signing the bill, Rosello announced that the legislation would portray Puerto Rico as a pioneer of democracy. He didn’t shy from stating that the new law would boost the local economy. The outgoing governor further reiterated how the legislation would establish the state as a “destination of sports betting events” for domestic and international tourists.
A report from the Innovation Group that Puerto Rico Chamber of Commerce had commissioned revealed massive economic benefits. The finding projects the gambling industry to raise $29 million in 2020 while 2021 to generate $51 million. The report further estimates the state’s ability to collect $87 million in 2024.
Now, Puerto Rico joins 14 other US states with legal sports betting. Furthermore, it’s the first non-state (US territory) to legalize sports betting.
