Washington Sports Betting Bill Not Bookie Friendly
A lot of legislators are rushing to get sports betting legalized in their states. Aside from the profit that those who want to be a bookie can earn. The state can generate revenue from taxing sports betting in their respective states. But it seems that some states’ bills, like the Washington sports betting bill, are done mostly for the sake of having one.
But when looking at a completely modernized sports betting industry, you will earn more than half-baked efforts to offer selective betting. It is common sense after all. How do bookies make money? Bookies make money by taking in bets from people. The more bets they take in, the more income they make from the vig alone. So, when you see bills like that of Washington, you just can’t help but ask why they did not do more.
Washington Sports Betting Bill
A late-night bill was passed by the House last Thursday that talks about sports betting. It is looked upon by experts as a half-baked, flawed, for-the-sake-of-having-one bill. The bill does not promote the full potential of a gambling industry. Washington limits sports betting to tribal properties only, which is quite a long drive from the metro. So, for example, you live in Seattle, then you will need to travel 17 miles to a casino resort. Then, they pull up their phones, and place a bet. A ferry will have to be involved in the travel to do this, by the way.
This huge inconvenience does not exist for a lot of sportsbooks. In fact, anyone can even learn how to put up their own sportsbooks on their own. So, if one were to ask “How much money do I need to be a bookie”, you would be surprised at how affordable and easy it is to do.
Given the successful market of states like Nevada and New Jersey, maybe Washington legislators should take a page off the books of these states in crafting sports betting bills. Otherwise, they should not expect the same level of growth and high revenue as the others.