The Commonwealth of Puerto Rico is taking steps towards establishing legal sports wagering after over a year of legalization. The territory has initiated a 30-day period of consultation on sports betting rules crafted in collaboration with Gaming Laboratories International (GLI).
The previous governor of this unincorporated US territory, Ricardo Rosselló Nevares, endorsed the legislation last July, shortly before his departure from office due to remarks he made to staff on the Telegram platform.
This year, the potential regulatory structure for gambling has undergone substantial alterations. Following the resignation of Jaime Alex Irizarry, the gaming director of the Puerto Rico Tourism Company in April, newly appointed Governor Wanda Vázquez Garced selected José Balasquide-Córdova and Cristóbal Méndez to establish a specialized gambling agency.
GLI was subsequently contracted in May to provide guidance on the formulation of sports betting regulations.
The rules established by GLI involve a 7% levy on total gaming earnings for traditional gambling venues and a 12% tax rate for internet gambling. Meanwhile, fantasy sports providers will be subject to a tax equal to 12% of the contest entry fees.
Concerning where gambling can be conducted, casinos, non-casino hotels, motels, racetracks, horse racing betting establishments, retail outlets, and any other location deemed suitable and safe by the Puerto Rico Gaming Commission can host gambling and fantasy sports. Online and mobile gambling seem to have no physical location restrictions.
In addition to offering gambling and fantasy sports on any professional or collegiate sporting event, individuals will be permitted to place bets on esports, encompassing real-time strategy, fighting, first-person shooter, or video games.
Read the complete article on iGB North America.
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