Saturday, May 9, 2009

Delaware Sports Betting Bill Passes The House!

In our last blog about the Delaware sports betting proposal, after the house rejected it by 2 votes, one of our last lines was "We hope Markell continues to fight to push this proposal through. If this means renegotiating, he should do it." Well, it looks like our wish came true.

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After several hours of talks and negotiations, a new agreement was reached whereby the state will allow for the casinos to receive a higher cut of the sports betting action. The deal also promises table games in the near future to the casinos as opposed to simply "looking into" table games. Additionally, the sports betting licensing fee was reduced from $4.5M to $4M for the three participating casinos.

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The bill was originally rejected, losing by two votes. This newer version passed with 30 votes, 5 more than the necessary 25. The bill now moves on to the Delaware State Senate. The NFL and the NCAA are still notably against this proposal.

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So, great news for the mid-Atlantic sports bettors and gamblers. Not only might you be able to legally and securely place a wager on football this year, but your favorite table games might be soon to follow. If this deal does indeed pass the Senate and get implemented by this football season, many speculate that other bordering states will soon follow suit, mainly out of the necessity to compete. The sports betting legislation is expected to bring in $52M during the fiscal year starting July 1.

Let's all keep our fingers crossed and hope the State Senate does the right thing too!

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