Jack Evans, council member of Washington D.C. has recently introduced a bill that legalizes Sports Betting in Washington D.C.. During a council breakfast, Evans remarked that to be able to get a foothold into the sports betting industry, they should be acting swiftly. For local residents, the nearest physical places they can bet on sports in in West Virginia. Maryland has casinos, but no sports betting yet. Of course, those who are running sportsbooks with pay per head software have an advantage since their operations are accessible virtually.
The bill covers proposed rules and regulations that is actually an amendment to the existing law that governs lotteries, raffles, bingo, and daily number games. Sports wagering will be added to the list of gambling forms allowed in the US capital.
Terms for Sports Betting in Washington D.C.
The bill will also stipulate the regulations and rules for sports betting. Such as limits to amounts wagered, types of wager tickets, and even the operators’ means of accounting. Of course, license fees are also discussed- the rate is at $50,000. Which is renewable every five years. In addition, sportsbook operators will have a 10% tax. Out of the tax to be collected, the plan is to use half to fund their district’s “birth to three for all”, an early childhood educational program. The other half will go to the Commission on the Arts and Humanities. If there are extra funds that will be collected, they will be diverted to the general district fund.
Despite the hesitance of some members, the taxes that can be generated from the unstoppable sports betting industry will go far in helping the general public. Also, the industry will help create more jobs. And even boost tourism and local industries, thus bolstering the local economy. To get an idea on just how profitable and manageable running a sportsbook is. Reading a few pay per head reviews can go a long way in helping people earn money from sports betting.