The senator has presented Senate Resolution 756 to the Finance Committee, the Senate Government and Federal Affairs Committee, and the Political and Economic Relations of the Senate Committee to look into the viability and desirability of allowing sports betting in Puerto Rico.
“It is estimated that the illegal betting market for professional sports events generates between US$50 and US$150m a year,” the Senator said last week as he presented Senate Resolution 756 to the Senate.
He explained that the resolution also orders the respective commissions to investigate the competitive advantages that Puerto Rico could offer compared to other jurisdictions, its potential for tourism as well as safeguards for consumers when it comes to unethical sports practices.
“The legalisation of sports betting on the island can be a means of important revenues for the treasury. Legalising this business would enable a highly lucrative industry that has operated outside of the law, which could result in greater revenues for the state” he said.
He also pointed out that in Puerto Rico, betting has historically been allowed as a means to generate public revenues. Among the state sanctioned betting are casinos, lotteries and betting on horse racing and cockfights all of which are legal and highly regulated by different government entities.
Meanwhile the current President of the Tourism and Social Welfare Commission, Néstor Alonso plans to file pro sports betting legislation which would allow Puerto Ricans to bet on US sporting events as well as first tier levels of Puerto Rican basketball, baseball and volleyball. Sports betting would also be allowed online as well as in casinos.
Although Puerto Rico has a certain amount of local autonomy, according to the US Constitution ultimate governance of the island is retained by both the US Congress and President. When it comes to online gambling the government adheres to the Unlawful Internet Gambling Enforcement Act of 2006 and Puerto Rico for now only permits online wagering for horseracing.
Source: GMB / G3 Newswire
