The esports betting industry is experiencing significant growth, with several nations legalizing esports betting in 2020.
Puerto Rico recently signed a bill to legalize wagering on competitive video games, making it one of the few US states to formalize and regulate esports betting.
This move sets a new precedent for future betting laws, as the bill specifically mentions esports alongside traditional sports.
Puerto Rico’s esports scene is integrated into the North American circuit, with players participating in popular games such as Overwatch, League of Legends, and Starcraft 2.
The passing of this bill creates financial opportunities for bettors and esports bookies, as the local government estimates it could generate up to $87 million in tax revenue within the first five years.
While there are still challenges to overcome, such as defining the terms “professional” and “amateur,” the motivation to legalize esports betting in Puerto Rico is high.
Esports betting executives should consider expanding into Puerto Rico, as it could serve as a test region for future coverage in the United States.
As new betting legislation continues to be drafted, it’s important for sportsbooks to assess the potential market entry and consider different political outcomes.
The next few resolutions will shape Puerto Rico’s path towards fully legalized gambling, presenting numerous financial opportunities for those involved.
