Puerto Rico’s First Fully Domestic Sportsbook Opens Today
Posted on: November 3, 2023, 08:47h.
Last updated on: November 4, 2023, 11:57h.
In another step forward in the development of the online sports betting landscape in Puerto Rico, the Ballers Sportsbook is ready to officially launch. It’s part of the U.S. territory’s continuing effort to become more self-sustaining and grab its share of the growing global gaming market.
Ballers is marking a historic milestone as the first truly “domestic” sportsbook in the territory, entirely owned and operated by a Puerto Rican company. Local entrepreneur Daniel de Ontañon, the former CEO of financial services company Insigneo, is at the helm. Assuming the role of director of development is local sports commentator Héctor José Torres Donato.
This venture aims to cater to the diverse interests of sports enthusiasts by offering betting lines on all major sports. However, Ballers distinguishes itself by placing a particular emphasis on local sports teams, with a focus on baseball and basketball.
To cover its technology, Ballers has integrated solutions from Sportradar and Spain’s R. Franco Digital. This strategic move ensures the “greatest integrity, speed and security,” according to the Ballers website.
High Expectations
Ballers anticipates an annual handle ranging between $170 million and $200 million. These figures underscore the company’s ambitious yet calculated expectations as it enters the competitive market. It also signals its confidence in attracting a significant share of the nascent sports betting market in Puerto Rico.
Ballers announced a week ago that the Board of Commissioners of Puerto Rico’s Gaming Commission has granted approval for it to commence operations. This regulatory green light positions Ballers as a compliant and authorized entity within the Puerto Rican gaming landscape, the final hurdle to jump before it could legally begin taking bets.
The sportsbook enters a field that already includes Casino del Mar at the La Concha Hotel, which has a retail sportsbook and is also operating an online sportsbook in partnership with BetMGM.
Additionally, Casino Metro has a sportsbook in its casino and has aligned itself with Caesars for its online sportsbook offering. The Stadium, the parent company of WinIn, has partnered with IGT to introduce a sportsbook to the market as well.
Well-Timed Entry
Ballers timed its launch fairly well. It may have missed out on the World Series and part of the NFL season, but it has a great home game to push to bettors on Friday.
Puerto Rico and Panama will face off as part of the Pan American Games. The Pan American Games, a major multisport competition involving athletes from the Americas, provides a platform for nations to compete in various disciplines.
In this particular matchup, Puerto Rico and Panama will pit their basketball teams against each other. DraftKings overwhelmingly backs Puerto Rico to win, giving them odds of -575 on the moneyline. They also have an 11.5-point spread in their favor.
Puerto Rico has won three of the last four contests between the two. It currently sits at the bottom of Group B, while Panama closes out the list for Group A.
Related News Articles
Source: casino.org
