Puerto Rico: legalised sports-betting to boost tax revenue

Local officials are claiming that legalised esports betting could bring in up to $87m in tax revenue within the first five years of operation

According to official estimates carried out by professionals in Puerto Rico, sports betting, electronic games, and the fantasy sports industries could generate more than $40m combined to the local generating revenue.

A group created by Pedro Pierlusi, Governor of Puerto Rico will “advise the Gambling Commission and the Governor of Puerto Rico on this new industry, and collaborate in the development and implementation of initiatives aimed at fostering and promoting its growth.”

50% of these funds generated would be used to contribute to retirement funds to employees in the public sector.

“As part of our commitment to guarantee a dignified retirement to our employees, it is extremely important to ensure that the treasury has access to these funds.”

This is all possible with the signing of Senate Bill 1534 which then-governor Wanda Vázquez Garced signed off standardising betting laws across the traditional sports and esports industry. Local officials are claiming that legalised esports betting could bring in up to $87m in tax revenue within the first five years of operation.

For local bettors, this law paves way for legislation that further recognises esports.

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