Both the House of Representative and the Senate in Puerto Rico have decided to finally approve measures which have to be approved so that the country can legalize both land-based and online sports betting activities. Moreover, the country’s most recently proposed sports betting regulations cover all sorts of fantasy sports and eSports in addition to traditional sports betting activities.
Nonetheless, before the country can take measures towards legalizing sports betting activities after the House of Representatives and the Senate have approved them, the ultimate and final decision is sitting on the desk of the country’s Governor Ricardo Rosselló. If he signs this latest betting bill, a completely new Puerto Rico Gaming Commission will be created with the main goal including regulatory and licensing measures.
The New Sports Betting Bill Bringing a Number of Changes
When it comes to the new sports betting bill which will probably be created, under its rules an individual will be chosen to manage the country’s Gaming Commission. What is even more detailed in the bill is that this person chosen must have at least five years of experience in the gambling industry or in some other related industry. Speaking of the Gaming Commission which will probably start soon, it will have a variety of functionalities including being in charge of all gaming activities as a major regulatory body.
Furthermore, the Gaming Commission will also be in charge of any kind of overseeing and violations happening in the country’s gambling industry. Before the governor decides to put his signature, he is also in charge of appointing the new gaming commissioner who will have to serve for ten years over a gaming board which will most likely include seven individuals and two of these seven individuals have to come from the country’s private sector.
It also should be noted that this new Gaming Commission of Puerto Rico will cover several other already existing groups which are involved with the Puerto Rican gambling industry including the Horse Racing Industry Administration of Puerto Rico and the Gaming Division of the Tourism Office of the Department of Economic Development. According to one local news service, the sports betting bill’s language was actually amended several days ago in order to allow the board to authorize gaming licenses to the country’s facilities which already have a plan in hand and which fully meet both safety and health requirements which are already set by the country’s local government.
Sports Betting’s Bill Restrictions and Taxes
As reported by several local news services, the Gaming Commission will not provide gaming licensing to whole sectors at once such as grocery stores and gas stations. Moreover, the bill also includes several sports betting restrictions. First of all, sports betting activities and venues cannot be placed within less than one hundred meters from schools, addiction rehabilitation centers and religious venues.
Additionally, the Gaming Commission will also be in charge of deciding the cost of gaming licenses which will all interested facilities and venues have to pay in order to be granted permission to offer any kind of sports betting activities both land-based and online. Based on the country’s previous gambling bills posed of this kind, venues, and facilities interested in legally offering sports betting activities will probably have to invest at least $50,000 for licensing alongside $2,500 for several other activities such as offering individuals sports betting activities.