Puerto Rico Sports Betting
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Officials in Puerto Rico legalized sports betting in 2019 but have yet to allow operators to start offering services.
Regulators need to complete the rules and regulations process, along with accepting licensing applications from operators.
Both land-based and online sports betting are allowed, so eventually, players will have access to both sectors when in the United States territory. Get to know what’s to come in the region by reading the detailed review of the market below.
Pros & Cons Of Betting On Sports In Puerto Rico
- Sports betting is legalized in both retail and online formats
- Operators can offer betting lines on professional and college sports teams.
- The market has several land-based casinos that are eligible to offer services.
- Betting odds are available for football, baseball, basketball, and several other markets.
- Despite legalization, services are not live yet.
- Access to online sports betting throughout the territory can lead to gambling addiction.
- An in-person registration requirement may hinder the online betting sector.
Would We Bet On Sports At Puerto Rico Sportsbooks?
Technically, yes! However, services are not available yet. Regulators are working on launching online sports betting in the territory but have not started the licensing process yet.
Once operators are allowed to apply, we expect big names to become involved. Below are a few operators we believe will launch services in Puerto Rico, as they are offered in other states that feature online sports betting.
Unfortunately for visitors and residents of Puerto Rico, services are not live yet. Hopefully, it won’t take long for regulators to start the process of accepting applications, approving operators, and getting the ball rolling on services.
How To Sign Up At A Betting Site
Before you can place a real money bet at an online betting site, you need to create an account. It is easy to set up your first account, though you may be wondering how the process works.
Below are the simple steps you need to complete to create an account. Read on to see what each operator will expect you to provide before you can place a real money bet.
- Visit an online sports betting site or download an operator app.
- Click the ‘Join Now’ button to start the process.
- Fill out the registration form with your name, email address, physical address, telephone number, birth date, and last four digits of your social security number.
- Once the form is completed, agree to the terms and conditions, and submit the information.
- You should receive a confirmation email from the provider. Click on the verification link to confirm your account.
- The link will take you back to the site/app, and you will need to sign in to get started.
- The provider may also ask you to send a copy of your photo ID for further verification.
- Once you are signed in, make a deposit, and you are ready to post your first bet!
To ensure sports fans are placing bets in a legalized state, geolocation technology is used. GeoComply is an app that operators utilize to detect a player’s location.
The software takes just a few minutes to download and install, and it works in the background to ensure you are legally allowed to place a real money wager.
If you were to drive outside a state with online sports betting, the geolocation software would stop you from accessing services.
Sports Betting Apps
To provide sports betting services to bettors on the go, operators use apps for both iOS and Android devices.
An app takes just minutes to download and offers you access to the cashier, promotions for betting, and solid betting lines. Quickly check your betting slip, place a wager during an event, or cash out a big win, all from your mobile device.
Pros & Cons Of Sports Betting Apps
- Access sports betting from anywhere inside a state with a legalized sports betting market.
- Check your betting slip while on the go to see if you earned a big win.
- Bet during a game while you watch the action from home.
- Wager on professional and college sports games.
- Easily add funds to your account or withdraw a win via your mobile app.
- Older devices may not be compatible with sports betting apps.
- Smaller screens make it hard to see betting odd details or wagering controls.
- Easy access to sports betting via an app can lead to gambling addiction.
- Smaller markets may offer less competitive odds.
Each online sports betting platform in Puerto Rico offers a different wagering experience. Below are the current apps available:
BetMGM Sportsbook App
One of the most popular operators offering online sports betting services, the BetMGM app is a top pick for offering services in Puerto Rico.
MGM Resorts International has big goals for its sports betting brand, set to move into as many regulated markets as possible.
BetMGM offers an intuitive app and desktop site featuring in-play betting, prop bets, moneyline, and many more betting options in various professional and college sports markets.
FanDuel Sportsbook App
Starting as a Daily Fantasy Sports company, the FanDuel app quickly expanded its services to offer sports betting once the option became available in the United States.
The brand has a quality reputation, providing secure and safe betting options for sports fans. Easily use the app or desktop site to bet on NFL, NBA, MLB, and NHL games along with golf, soccer, and additional markets.
DraftKings Sportsbook App
DraftKings also decided to move from only offering Daily Fantasy Sports to providing services in the sports betting sector.
With its online betting operations, the DraftKings app provides the essential services sports fans are looking for. The operator offers it all, from promotions and incentives to quality betting lines and odds.
Easily place a bet on the go or from home via the app or desktop site.
How To Fund Your Betting Account
After signing up for a new player account, you need to add funds to place a real money wager.
Online sportsbooks offer premium options for deposits and withdrawals, making it easy for you to add or remove cash from your account.
Check out the process below to learn more about how you make a deposit and a withdrawal as a new sports bettor.
How To Make a Deposit:
- Log in to your online sports betting account via the app or website.
- Select the cashier option in your account and choose a deposit method.
- Choose a banking method and enter the amount you want to add.
- Follow the sportsbooks instructions on how to complete the transaction.
- Once completed, the cash will show up in your account, and you can start betting.
How To Make a Withdrawal:
- Use the app or website of your favorite online sportsbook to log in.
- Click on the cashier section and choose a withdrawal method.
- Choose a banking method and input the amount you want to remove from your account.
- The sportsbook will then provide step-by-step instructions to complete the transaction.
- Transfers can be instant or take a few days, depending on which method you choose.
Online Sportsbook Payment Process
Now that you understand how to add and remove funds, it is essential to learn more about the banking methods used by providers.
For the most part, operators will use the same methods to make it easy for players to deposit and withdraw funds. Learning more about each method helps you to determine which banking options will work best.
Each method has monetary limits as well as a time frame in which cash will land in your sports betting account or when withdrawn into your banking accounts.
Be sure to review the process for each method at the sportsbook before choosing an option for your betting needs.
Common Deposit Methods:
- VIP Preferred
- Credit cards
- Debit cards
- Play+ card
- Online banking
Common Withdrawal Methods:
- VIP Preferred
- Play+ card
- Online banking
How Do Sports Betting Sign Up Offers Work?
When signing up for a new player account with an online sportsbook, you have access to sign up offers. These deals are promotions provided by the operator to draw players in.
Standard perks you can access as a new player include a first deposit offer, no deposit deal, and risk-free bet. If you are new to online sports betting, you probably have no idea how to claim such offers or what they entail.
Check out the details below to learn more about the most common sign up deal types and claim them to add bonus cash to your bankroll.
First Deposit Offer
Usually, the first deal you will spot is the first deposit offer. This is a deal that provides you with bonus cash based on your first deposit.
Promotions such as this will offer 100% to 150% in bonus funds worth up to a certain amount. If an online sportsbook offers a 100% deal worth up to $300, you can deposit up to that amount to earn the same in bonus cash.
Let’s say you add $100 to your account with the deal, using a bonus code as a new player. Once the deal is completed, the site adds 100%, which would be $100 to your account.
This gives you a total of $200 to bet with. The first deposit deal does have wagering requirements, so be sure to read the fine print before claiming this deal.
You will need to wager the bonus amount and the deposit the number of times listed on the site before you can withdraw funds. Usually, this type of deal provides you with 30 days or more to meet the wagering requirements.
No Deposit Offer
Online sports betting sites also offer no deposit deals, perfect for players who want to try a site without adding funds.
The sportsbook adds a certain amount of cash to your account for betting. You cannot withdraw the bonus funds and usually need to place a particular type of wager to claim the deal.
Place your bet with the free funds to see if you can win. If you manage to score a big win, you will need to deposit funds before the site allows you to cash out.
This is one of the stipulations connected to this deal.
If you want to minimize the risk when placing your first sports bet, consider the risk-free deal. This option allows you to deposit funds and place a bet.
If you win, that’s great; you have more cash in your account. If you lose the bet, the operator places the amount of the loss into your account in bonus cash.
This type of deal usually has a certain amount attached to it or type of bet. Be sure to read the terms to fully understand what you need to do to clear the deal.
Where Can I Place a Bet In Puerto Rico?
Once sports betting launches in retail form, players will be able to access services from land-based facilities. There are currently a handful of casino operators located in Puerto Rico.
- Caguas Real Hotel & Casino
- Stellaris Casino at San Juan Marriott
- Casino del Mar at La Concha Resort
- Sheraton Puerto Rico Hotel & Casino
- Mayagüez Resort & Casino
- El Tropical Casino at Holiday Inn Mayaguez
- El Tropical Casino Ponce Holiday Inn
- Hilton Ponce Golf & Casino Resort
- Ritz Carlton San Juan Hotel & Casino
- Oasis Casino at Embassy Suites San Juan
- El Tropical Casino Bayamón Hyatt Place
- Casino Real at Wyndham Garden
- Rio Mar Casino at Wyndham Grand
Puerto Rico Sports Betting Laws And Tax Rates
In 2019, lawmakers in Puerto Rico legalized sports betting in online and retail format. The goal was to get started so that the region could benefit economically from the services.
However, by 2020, the COVID-19 pandemic began, and the launch was pushed back. Currently, options are being considered for how sports betting can begin safely.
Once services are up and running, the online sector will be taxed 12% of gross gaming revenues, and retail sportsbooks will pay slightly less at 7%.