We continue to work for tourism, which will help us improve economic development for the island,\u201d<\/strong> tweeted Rep. Nestor Alonso (New Progressive Party), who served as the bill\u2019s primary sponsor in the legislature, after Rossell\u00f3\u2019s signing Monday.<\/span><\/p><\/blockquote>\nTo help spur tourism, Puerto Rico will offer some of the lowest taxes on sports betting in the US. The tax rate will be 7 percent on gross gaming revenue for retail sportsbooks. Online books will get taxed at 12 percent. A study published in March by Spectrum Gaming Group estimates sports betting in Puerto Rico could generate up to $62 million in annual gross revenues.<\/p>\n
The new law calls for the creation of a gaming commission, modeled after similar bodies in US states. The seven-member panel, which will include both public officials and citizens, will regulate both sports betting and horse racing.<\/p>\n
Rossell\u00f3 Resigning<\/h2>\n
While Rossell\u00f3 helped shepherd the bill through the legislature, he will not be in a position to shape Puerto Rico\u2019s gaming policy moving forward, and it remains unclear exactly who will serve in that role.<\/p>\n
The signing serves as one of the final acts for Rossell\u00f3 as Puerto Rico\u2019s governor. Last week, he announced his resignation, effective on Aug. 2, after text messages between him and other political leaders were leaked. The texts were filled with offensive language and made fun of Maria survivors.<\/p>\n
The revelation set off scores of protests on the island, demanding his resignation. Other officials, including Secretary of State Luis Rivera Mar\u00edn, also resigned in wake of the texting controversy. Due to Puerto Rico\u2019s succession laws, Mar\u00edn would have replaced Rossell\u00f3. Now it appears Justice Secretary Wanda V\u00e1zquez is next in line.<\/p>\n
However, she doesn\u2019t want the job.<\/p>\n
\u201cI repeat, I have no interest in taking up the post of Governor,\u201d she tweeted on Sunday afternoon. \u201cIt’s a constitutional opinion. I hope that the Governor will identify and submit a candidate for the post of Secretary of State by 2 August and I have expressed this to him.\u201d<\/strong><\/p>\nFocus on Esports<\/h2>\n
One of the more unique aspects of Puerto Rico\u2019s sports betting law is that it includes betting on esports<\/a>, or video game competitions. It\u2019s a highly growing market as interest builds in watching gamers play Fortnite<\/em>, Madden NFL<\/em>, and Tom Clancy\u2019s Rainbow Six<\/em>.<\/p>\nPuerto Rico officials said the esports audience exceeds 400 million worldwide, and by 2023, the economic impact of the emerging sport will top $3 billion.<\/p>\n
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Another unique aspect of the law is it also allows former cockfighting arenas to get sports betting licenses. When Congress passed the federal Farm Bill in December, it included a provision formally banning the controversial game across the country. Many states had already enacted laws banning the violent sport.<\/p>\n<\/div>\n
However, it was wildly popular in Puerto Rico. According to a Voice of America<\/em> article, cockfighting employed 27,000 people and pumped $18 million into the island\u2019s economy.<\/p>\nUnder the new law, any cockfighting arena that operated legally in Puerto Rico and closed because of the federal law will receive their sports betting license for free for a 10-year period.<\/p>\n","protected":false},"excerpt":{"rendered":"
Puerto Rico became the latest in the United States to legalize sports betting as outgoing Gov. Ricardo Rossell\u00f3 signed a bill Monday allowing it on the Caribbean island, an American commonwealth. The bill signed by Rossell\u00f3 also permits fantasy sports and betting on esports. The new law allows sportsbooks to set up on the island\u2019s […]<\/p>\n","protected":false},"author":45,"featured_media":110593,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,1074],"tags":[],"acf":[],"yoast_head":"\n
Amid Chaos on the Island, Puerto Rico Legalizes Sports Betting<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n