Delaware Looks to Expand Online Sports Betting Market
Delaware lawmakers are pushing for a competitive market for online sports betting by introducing House Bill 365. The bill aims to create a framework for multiple online sportsbook operators in the state, breaking the current monopoly held by BetRivers. If passed, the bill would allow for up to six additional mobile wagering providers in Delaware, a sixfold increase from the current one-sportsbook system.
The proposed legislation would charge online sportsbook operators a $500,000 fee for a five-year license, in addition to 18% of their adjusted revenue. This revenue would help cover the costs of oversight and fund problem gambling programs. The bill also aims to bring revenue back to the state by curbing wagering on offshore sites.
The push for a competitive online sports betting market is not a surprise in Delaware. Representative Franklin Cooke, the primary sponsor of H.B. 365, was involved in the state’s Internet Sports Lottery Legislative Working Group, which recommended the expansion of online sports lottery operators. The group recognized the shift towards online sports wagering and the need for multiple operators to provide choice and revenue for the state.
If passed, Delaware could see a significant expansion of its sports betting industry, providing both new opportunities for operators and increased revenue for the state. The bill aims to modernize the state’s approach to sports betting and align with the national trend towards online and mobile platforms for legal sports wagering.
Source
Photo credit www.covers.com