Former Puerto Rico governor signs Senate Bill to allow sports betting
Former Puerto Rico governor Wanda Vazquez Garced has signed the Senate Bill 1534 which allows sports betting and Esports in the country. Puerto Rico had begun talks surrounding regulations on sports betting a few months ago, which commenced the launch of the betting vertical.
With the signing of this bill comes the welcoming of sports betting and Esports all across Puerto Rico. This was one of the last decisions the Governor took before stepping down.
The former Governor supported this Bill because she believes sports betting and Esports will provide many new job opportunities within the country by creating thousands upon thousands of jobs, all while also “creating new sources of revenue.” These brand new sources of revenue will go towards state programmes and services including health services and the improvement of the education sector.
The new government led by Pedro Pierluisi will be in charge of imposing these suggested measures since the project is currently still in its early stages.
The Executive Director of the Gaming Commission, José Maymó Azize, claimed that the Bill 1534 also includes the amendment of a few regulations, specifically the law that requires players to register online or in person. This law was later altered so that people must register in person, for the first time at least.
Additionally, the Gaming Laboratories International (GLI) has been chosen as an advisor concerning Esports regulations for operators in Puerto Rico. Esports alone is expected to generate a possible estimate of over $87 million of profit during the first five years of operation.