Puerto Rico is one of the easternmost islands of the Greater Antilles in the Caribbean; it encompasses the main island and others such as Vieques and Culebra. Positioned on the island of Puerto Rico where the Atlantic Ocean lies to the north and the Caribbean Sea to the south, there has always been a culture of betting and gambling especially in sports such as horse racing and gambling in casinos. This blog post focuses on the best betting sites in Puerto Rico, legal aspects and some helpful advices for the users.
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Table of Contents
Summary of Key Events
Legal History of Gambling in Puerto Rico
The history of gambling in Puerto Rico can be traced in the middle of the 20 th century. To give a brief idea of how the scenario has changed over the years, here is a quick timeline:
- 1948: Gambling is allowed in whatever type, this can be in the form of casinos, lotteries or even horse racing.
- 2012: The first legal website for the horse race betting gets the go ahead to start operating.
- 2018: The PASPA is declared as unconstitutional hence, the sports betting is legal in the United States of America.
- 2019: Sports betting, fantasy sports and esports is now legal in Puerto Rico.
- 2021: We also find out that the Puerto Rico Gambling Commission has now opened the of the applications for the sports betting platform acceptance.
Regulatory of Betting Sites in Puerto Rico
The gambling business in Puerto Rico is controlled by several authoritative bodies and organizations
- Puerto Rico Gaming Commission: It was launched in the year 2021 and the main functions include the regulation of gambling with the help of licensing.
- Puerto Rico Tourism Company: The initial function of this agency on the formation of this agency was to regulate gambling; today, its activities are directed at the tourism sector of the gambling industry.
- Gaming Laboratories International (GLI): Providing recommendations, mainly regarding the matters of regulation as in the case of esports.
Prohibited and Permitted Bets
This implies that there is a need to understand the kind of bets that are allowed and those that are not allowed.
- Permitted: Such as casinos, lotteries, horse betting, sports, and even fantasy or electronic sports.
- Prohibited: Other prohibited activities include; Gambling especially the online gambling without the right permits and cock fighting which was prohibited in the year 2018.
Gambling Licenses and Fees
All the betting sites have to be legitimate and for this, they will have to get a license and this does not come without a price. Below are the major facts;
- License Types: Here they are, casino, sports betting, fantasy sports, and online gambling.
- Fees: This may also differ with the type of license to be obtained and size of the business to be licensed as well. For instance, the sports betting licenses may go for as much as $50,000 annually.
Betting Taxes
The subject of taxation is one of the most essential elements in any gambling business.
- Operators: Certain and measurable charges should be made for the payment towards the licensing of the same.
- Players: For instance, where every win is subject to tax then the rates of tax differ with the type of win with the some being taxed at 10% and others at 20%.
Online Betting Sites in Puerto Rico
It is for this reason that it becomes quite critical for a bettor to select the most appropriate betting site.
1xBet
1xbet: Popular for the many sports and the live betting services offered to the customers.
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20Bet
20bet: Provides a mobile application which is comfortable in use, good coefficients and bonuses, besides the website is not difficult to navigate.
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22Bet
22Bet: This is horse racing company and they have a lot of market news.
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Major events in Puerto Rico sports
There are important milestones which can be mentioned in relation to the gambling on the island.
- 2019: This is because the approval of sports betting as legal.
- 2021: BetMGM is also planning to open of its first retail sportsbook.
- 2023: The recently introduced online sportsbooks are by BetMGM and Caesars Sportsbook.
Sports Star Glory
Some of the worlds most famous athletes can be proudly claimed to be from Puerto Rico.
- Roberto Clemente: Famous baseball player and is in the hall of fame.
- Felix Trinidad: In boxing, has many titles of the world.
- J. J. Barea: He is the champion of the NBA league, specifically with the Dallas Mavericks team.
Neighboring Countries’ Gambling Laws
Knowing more about the regional gambling laws can help her even more.
- Dominican Republic: Online gambling is legal in the country since 2000 though the option is restricted in some ways.
- U. S. Virgin Islands: Allows casino games and sports betting but online gambling is not allowed.
- British Virgin Islands: The only forms of gambling that are legal are lotteries and horse racing, there is no laws regarding online gambling.
Conclusion
The gambling industry in Puerto Rico is well developed and offers a number of niches for both, the beginning operators and the players. As a result of the well developed legal framework, a variety of bets and a high level of development in the field of sports betting and online betting sites in Puerto Rico the island has a vast potential for its development.
FAQ: Betting Sites in Puerto Rico
Related content
Betting Sites in North America: Best Bookmakers
Betting Sites in US Virgin Islands
Betting Sites in Dominican Republic