Sports Gambling And Daily Fantasy Sports Could Soon Be Offered In Puerto RicoPublished August 26, 2020 by Sol FH
Could sports gambling and daily fantasy sports (DFS) be on the way to punters in Puerto Rico?
Close to a year after lawmakers in Puerto Rico voted to approve legislation to see licensed and regulated sports gambling and DFS markets into the country, the US territory could soon be ready to implement. Over the last few years, Puerto Rico has been hit by a number of economic challenges and new sources of revenue were actively being sought out. Lawmakers agreed that sports gambling and DFS could be a very viable source. This week, the Puerto Rico Gaming Commission (PRGC) met to discuss plans to move forward.
Just as the Novel Coronavirus Pandemic has taken its toll across the globe, Puerto Rico's economy has had to deal with considerable revenue challenges. The urgency of the challenges has been the engine driving the decision to launch sports gambling and DFS, as well as eSports. The PRGC met virtually yesterday to take questions, comments, concerns from the public and have yet to publish a statement.
There are a number of land-based casinos in Puerto Rico but with the lack of tourism and lockdowns due to the Coronavirus, there have been considerable revenue shortages at each venue.
Puerto Rico is controlled by the US and the US Congress, which puts Puerto Rico in an interesting situation wherein it mist abide to the US Federal Government and its laws and regulations. Until 2018, Puerto Rico, just like the other states in the US, were bound to sports gambling restrictions. But, after the US Supreme Court abandoned PASPA, sports gambling and DFS began popping up all over the country. This is what spawned the idea of a sports gambling industry in Puerto Rico and soon after the PRGC was put in charge. It oversees the licensing of online sportsbooks and gambling sites, as well as land-based venues.
The plan is to have online and land-based sports gambling, and, DFS and eSports ready to offer Puerto Rican punters by the end of the year. Potential operators have not heard about how many licenses will be offered yet, but the tender process will be open to existing venues and new groups to bid.
Puerto Rico opened the doors to international travel in July but was stopped dead in their tracks as COVID-19 reappeared with a vengeance and forced the shutdown of casinos, theaters, bars, and other popular venues.