Sports Betting Bill in Washington D.C. Advances
Legal sports betting in Washington D.C. is one step closer to reality. This is because on Wednesday, the Sports Betting Bill in Washington D.C. went one step further into becoming a law. According to an iGaming News website, City Council members made an update to the proposal during a finance committee meeting.
This Sports Betting Bill by Jack Evans would legalize sports wagering by using a hybrid system of operator access. In addition, the revision now makes it so that it omits a data “royalty fee” from the original proposal. Furthermore, this was the longest meeting of the year by the Committee on Finance Revenue. In part, it was because of the discussion highlighting and reviewing the sports betting bill.
The Bill will now go to a first reading before the full council on the December 4 legislative meeting. If the full council approves it, it will then receive a second and a final reading. Once the final reading receives approval, the bill will go to the Mayor of Washington D.C. to sign off. From there, it will go to the U.S. Congress for final approval and then become law.
Washington D.C. Gambling Expansion
At the moment, it seems like the City Mayor and Congress will not reject the bill. However, there are concerns of the implementations of the bill as to where sports betting would fall under. According to Pay Per Head websites, the data fee and operator access were the sticking points in the legislation.
Furthermore, it appears that the state lottery would be in charge of sports betting in Washington D.C. This is because there are not other entities within the city that have any experience in the industry.
According to the city CFO Jeffery DeWitt, he estimates that the city would keep 20% of all wagers. However, many feel that it is too optimistic as most sports betting operators only keep 5%-7% of all wagers.