Legal Gambling Age In Puerto Rico
Evolution of Gambling Laws in Puerto Rico. As a US-controlled territory, Puerto Rico has implemented many of the same laws as the mainland United States. Gambling laws here, however, have been considerably more lenient than many states. Most traditional forms of gambling are perfectly legal here. The measure seeks to authorize this kind of betting, which has been booming stateside and could generate about $3 billion annually there by 2023, the governor said, adding that Puerto Rico could reap between $44 million and $66 million annually from online gambling, according to a study by Spectrum Gaming Group. Puerto Rico Slots in 2020. Legal gambling age: The minimum legal gambling age in Puerto Rico is 18. Private slot machine ownership: The legal status of owning a slot machine privately in the U.S. Territory of Puerto Rico is unknown. Puerto Rico should see a legal sports betting industry launch in 2021. Estimates for yearly revenue from the industry range anywhere from $44 million – $62 million. If all goes well, nearly 3 years after becoming legal, Puerto Rico could see as much as $68 million in revenue by 2022. Facts About Casinos in Puerto Rico – Similar to most nations outside and within Central America, the minimum gambling age in Puerto Rico is 18 years. However, some casinos stick to 21 years of age to maintain a reasonably mature crowd. – As of 2016, Puerto Rico has a population of 3.41 million.
The rapid growth of the sports betting industry in the United States has caused the government in Puerto Rico to take notice. There is a legitimate chance that Puerto Rico could launch sports betting at some point in 2021, but there are still many factors in play.
Puerto Rico is looking for new ways to bring in more revenue, and sports betting has proven to be a huge moneymaker in the United States. Puerto Rico is hoping for the same kind of thing, and estimates are that the country could see a ton of new revenue.
Sports betting in the country of Puerto Rico has actually been legal for more than a year, but nothing has been done since the law was passed. The government is now moving forward with launching sports betting, but the launch of sports betting is still several months away.
Former Governor Rico Rossello Nevares legalized sports betting in July 2019, just days before he stepped down. Rossello Nevares stepped down after several scandalous messages were revealed, and he was facing pressure from the government.
Governor Wanda Vazquez Garced took over the position, and sports betting was not discussed in the first full year of the new regime. As the country continues to look for more revenue, sports betting is once again a hot topic in the country.
Starting From Scratch
Jaime Alex Irizarry, the former Director of Gambling for Puerto Rico’s Tourism Board, submitted his resignation in April, and he was the leader in the sports betting industry discussion. When the resignation was submitted, it forced the country to start from scratch when working on coming up with sports betting regulations.
Gaming Laboratories International (GLI) has recently been working in Puerto Rico to examine the current rules and regulations and begin coming up with new regulations for the sports betting industry.
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What Will Sports Betting Look Like in Puerto Rico?
Both mobile and retail sportsbooks will be available when the government finally decides to launch the sports betting industry. Puerto Rico is looking at the model used in the United States to form its own rules and regulations.
A wide range of betting markets are expected to be available when the industry launches, and many top operators are expected to look to launch in the country. The legal age for sports betting has been set at 18, which is younger than the legal betting age in the United States.
Plenty of Steps Left to Take
There is currently a 30-day window open for residents of Puerto Rico to express their opinions about sports betting. Nothing will be done until this period closes, but then the government is expected to act quickly.
Operators will be able to begin applying for sports betting licenses by the end of 2020, with plans of launching in 2021. The government will be tasked with reviewing the licenses and choosing only the top operators.
Financial experts estimate that Puerto Rico could see anywhere from $44 to $62 million when the entire industry is up and running.
- Puerto Rico could see a legal sports betting market launched sometime in 2021.
- Estimates show that the Puerto Rican economy could make as high as $68 million in annual revenue from the sports wagering industry.
SAN JUAN – It’s been over a year since sports betting in Puerto Rico became legal and they are now finally moving forward with implementing it.
Gambling on sports was legalized by former Governor Rico Rosselló Nevares in July of 2019 prior to his resignation due to scandalous messages that surfaced at the time. After his resignation, sports betting was put on the backburner as Governor Wanda Vázquez Garced took over the position.
The Director of Gambling for Puerto Rico’s Tourism Board, Jaime Alex Irizarry, turned in his resignation in April, making all of his initial work on setting up a regulated industry for sports betting irrelevant and leaving Puerto Rico to have to start from square one again.
José Balasquide-Córdova and Cristóbal Méndez were both hired by Garced to develop a new gambling structure. Gaming Laboratories International (GLI) worked with the team for a 30 day period in May to consult on sports betting regulations that would work for the Puerto Rican sports betting industry.
What The Landscape For Puerto Rican Sports Betting Could Look Like
The regulations that Puerto Rico has come up with for their sports wagering market are very much an all-encompassing kind and lax in terms of what will be offered to sports bettors.
There will be both retail and mobile sportsbooks available. Retail sports betting establishments can be opened in casinos, at hotels, racetracks, stores, and wherever else the Puerto Rico Gaming Commission (PRGC) approves to be a safe place to open a sportsbook. Nowhere is off limits as long as it receives the okay by the PRGC.
Esports, Daily Fantasy Sports (DFS), virtual sporting events, collegiate, and professional sports are all categories that will be open for wagers. Live in-game betting will also be available.
Any mobile sports betting platforms can open on their own without the need to be connected with a land-based venue. Taxes on retail locations has been set at 7% on all revenue while mobile and internet applications will see a tax rate of 12%. DFS revenue will be taxed at a flat rate of 12%.
The legal age for engaging in sports betting is set at 18. Licensing fees will vary depending on the type of sportsbook that an operator wishes to open.
A self-exclusion list will be open for problem gamblers so that when they put themselves on the list, it will make them ineligible to access any form of sports betting in Puerto Rico. Marketing and advertising will be monitored to not appeal to anyone underage.
On August 10, Puerto Rico opened a 30 day period for public opinions on these drafted regulations.
What’s Next For Puerto Rico And Sports Betting?
Legal Gambling Age In Puerto Rico
After the 30-day window of opinion closes in September, the PRGC will consider how the public feels about their regulations and make any changes they see fit.
Once the regulations have been finalized, future operators can begin to apply for licenses to open sportsbooks. Puerto Rico should see a legal sports betting industry launch in 2021.
Estimates for yearly revenue from the industry range anywhere from $44 million – $62 million. If all goes well, nearly 3 years after becoming legal, Puerto Rico could see as much as $68 million in revenue by 2022.
News tags: Cristóbal Méndez Gaming Laboratories International GLI Jaime Alex Irizarry José Balasquide-Córdova PRGC Puerto Rico Puerto Rico Gaming Commission Rico Rosselló Nevares Wanda Vázquez Garced
Legal Gambling Age In Puerto Rico
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.