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Several States On Track For Fall 2021 Sports Betting Launch, Others Look To Q4 2021 And Beyond
Sports bettors in Virginia started placing legal bets January 2021 after legalized sports wagering was approved in the Commonwealth of Virginia in April 2020. Online betting is allowed, but wagering is not permitted on Virginia-based college sports or certain youth sports. The Washington Football Team obtained a sports betting license from the Virginia Lottery in 2021, marking the first time an NFL team had obtained a wagering-related license in any jurisdiction.
Sports betting’s popularity has grown exponentially through the 2010s and now represents a $20 billion industry nationwide. State legislative analysts and industry experts predict that sports betting has the potential to generate over $427 million in revenue across the state. Although a highly speculative figure, this revenue would be taxed at a minimum rate of 8% as set by the Arizona Department of Gaming and could increase the state General Fund by $34.2 million annually. West Flagler Associates, which owns Miami’s Magic City Casino, and Bonita-Fort Myers Corp., operators of Bonita Springs Poker Room, in July filed a 67-page lawsuit in the U.S.
The Commission would issue up to seven licenses to operate sports wagering. The license would cost $100,000 and be good for five years, with renewal an option at the end of five years. The state would collect a 10% tax on adjusted gross sports wagering receipts. It would allow for betting at brick-and-mortar facilities and via “mobile application or other digital platforms.” In March 2021, North Dakota lawmakers spiked a sports betting ballot measure.
Louisiana sports betting has technically been legal since June 22, 2021. The first retail sportsbooks have now begun taking wagers, with online sports betting sites already offering prelaunch offers. On May 19, 2021, the Florida legislature approved a tribal-state gaming compact with the Seminole Tribe of Florida.
FanDuel is legal and available if you are visiting an eligible state, then you can register and place a bet with FanDuel sportsbook even if you don’t reside there. Passing this extensive bill is no small task, particularly for an adverse gambling state. Regardless, there’s nothing new to report until these gaming options turn up on a 2022 voters ballot. The Garden State registered anew record betting handle in Octoberwhen bettors placed $1.3 billion in wagers, thus eclipsing the previous high from September.
While that bill did not permit any mobile wagering, the state is expected to consider statewide mobile wagering in 2021 or 2022. Officials are hoping for a retail launch in 2021 and an online launch early 2022. We’re tracking all 50 states (plus Washington D.C.) to see how legalization is progressing, both retail and online. Sports betting is legal in more than two dozen states in the United States, though many have only in-person betting. Mr. Murphy, a die-hard soccer fan who used to sit on the board of the U.S.