The same place where the historical ruling to allow US states to regulate legal sports betting markets is finally getting in on the action. DC sports betting was at last legalized due to a 11-2 vote by the DC Council on Dec. 18.
The industry is one step away from running legal operations in DC, and will most likely be doing so by summer 2019. DC residents have Mayor Muriel Bowser and Councilman Jack Evans to thank for the speedy introduction and drafting of the Sports Wagering Lottery Amendment Act of 2018 (the name of the bill.)
DC Sports Betting Apps Might Launch As Soon As July 2019
The bill that passed outlines key features of a future sports betting market, including tax rates, such as:
- 20% on DC sports betting apps and online platforms;
- 10% on retail facilities such as stadiums and racetracks.
The bill also puts forward the prospect of license fees as another financial benefit for the district.
Reports show that if the DC sports betting market is up and running starting from July 2019, the projected tax revenue will be $6.5, a number that will only increase as the years go by, with the possibility of it reaching $9.5 million by 2022. These funds will be split between financing programs such as gambling addiction treatments, violence prevention and others.
Gambling will be excluded from federal properties such as RFK Stadium, the previous playing field of DC. United. Other venues like Capital One Arena and Nationals Park, on the other hand, will be open to the gaming industry. DC sports betting operations will be under the regulation of the Office of Lottery and Charitable Games.
Though DC is not a state, it is joining seven states that legalized sports betting. The seven states are New Jersey, Delaware, West Virginia, Rhode Island, Pennsylvania, New Mexico and of course Nevada. Some states are still in the workshop regarding sports betting apps and online sports betting overall. 2019 is expected to bring on many new and exciting markets.