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State legislature introduces a bill to legalize sports betting in DC

State legislature introduces a bill to legalize sports betting in DC

Estimations suggest that more than 30 states could make a move to legalize sports gambling in the  US and DC is all set to join the wagon. The legislature has also introduced a bill mulling for its legalization in the state.

It would be run by the DC Lottery and large sports venues like National Park, Audi Field and Capital One Arena where the public will be allowed to bet on sports in the capital. The Supreme Court rules lifted the ban on sports wagering and allowed the states to legalize betting in their states if they wish to. Earlier, only Nevada offered sports betting but after the verdict, many more states are planning to legalize betting on sports in full swing.

"The underground betting market of America is worth $150 billion," said DC Councilmember Jack Evan who had introduced the bill in the assembly. "We need to plan how are we going to bring those $150 billion above the ground for encouraging the bettors to place their bets with the District of Columbia not with the bookies," he added.

At first, DC would license sports facilities and bars for sports betting and it would created a sports wagering app which Evans believes is crucial. New Jersey, Delaware and Mississippi are already running in the fray to encourage sports betting.

"An illegal market still exists but the main challenge is that once we legalize sports wagering, it will get regulated and taxed. Who are already betting offshore are really going for registering and paying taxes with the DC government or any others?"

If it does get approved, the first legal sports betting locations in the city could be up and running by next spring.