Sports betting in Puerto Rico was officially legalized on July 29 back in 2019. However, the regulatory process to actually launch has taken some time.
Puerto Rico was hoping to launch sports betting by the start of this year’s MLB season. That time frame has come and gone. However, BetMGM has just announced that it has formed a partnership with Casino del Mar to bring legal sports betting to the US territory.
One of the issues at hand were new pieces of legislation that were continually added to the various PR sports betting bills. This has caused a major delay in the process. Overall, the Puerto Rico sports betting market has the potential to be large. In time, it is believed that multiple US-based sportsbooks will target this market.
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Puerto Rico Sportsbooks
Puerto Rico online sports betting has been the major focus of any sports betting legislation, but in-person betting will also be offered. This will create a large number of betting opportunities for bettors, and should help the market grow quickly.
In-person registration has been included in the latest PR sports betting laws, and that could put a damper on the growth of online betting. States in the US that have in-person registration have failed to compete with those markets that allow for remote registration.
BetMGM’s entry into the marketplace will put legal sports betting in Puerto Rico on the map. Once approved, BetMGM will offer legal betting through a retail sportsbook at the San Juan-based La Concha Resort. The retail book will be located in the Casino del Mar.
The BetMGM mobile sports betting app will also be available throughout Puerto Rico as part of the deal. Everything remains subject to regulatory approval. The Puerto Rico Gaming Commission is the governing body for legal sports betting. As Executive Director, Orlando A. Rivera Carrion has already expressed his support for this joint venture.
PR Sports Betting Rules
Puerto sports betting will allow betting on professional, international, and collegiate sporting events. A complete list of PR sports betting rules has not yet been released, but that will occur before the industry launches.
Esports is also expected to become a potential PR sport betting market, but there has been some recent debate surrounding this issue.
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PR Sports Betting Regulations
Senate Bill 1534 was recently signed into law by Wanda Vázquez Garced, and that has made PR sports betting legal. This law also allows esports tournaments to take place in Puerto Rico.
The Gaming Commission of Puerto Rico will also be tasked with issuing sports betting licenses.
Now that sports betting is officially legal in Puerto Rico, there are still additional rules and regulations that need to be passed before sports betting can launch.
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BetMGM will have a commanding presence in the legal Puerto Rico sports betting industry. The company’s partnership with La Concha Resort’s Casino del Mar is historic. It marks MGM Resorts’ first venture outside the US mainland with the BetMGM brand.
Puerto Rico online sports betting is expected to drive the industry when it first launches, but appears that in-person registration will still be required. This will force bettors to visit a brick-and-mortar casino, and that would keep some sports fans from creating an account.
The PR sports betting industry will be very similar to the United States, with many of the same sportsbooks looking for a license. However, BetMGM’s initiative will pay some major dividends as this industry evolves.