News Sports Betting Closer for Washington DC

Sports Betting Closer for Washington DC

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The launch of legal sports betting in Washington DC moved a step closer this week, as the district reached the next stage of regulation.

Next week, on Tuesday, the official licensing process will be opened up to bidders, including gambling operators, sports betting product suppliers and management firms throughout the district.

At this stage, there is no clarity on the timeline or the potential length of the delay before sports betting services become available to residents of the district. But operators and betting industry firms who want to apply for a licence to be involved in the new sector will able to obtain an application form on Tuesday. Operational licenses, to be given to those who work for sports betting companies, are set to be available from the start of next year.

Estimates of the duration of the licensing process suggest that it could take up to three months, although it has been reported that companies already operating in the US sports betting industry in different parts of the US may be able to earn six month licences on a provisional basis.

Revealing more information about the process, a spokesperson from the DC Office of Lottery and Gaming said that the length of a license application will depend in each case on the complexity of the sports betting application proposes.

The sports betting product in DC will be supported by Intralot, and will be offered to customers through retailers and through the Intralot mobile app. The plan is for bets through retail or internet portals to attract tax of 10% against the gross revenue generated from bets.

Gaming company Newgioco Group has earned the opportunity to provide the technology platform to underpin the Grand Central sportsbook at their sports bar in the District.

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