Ridgely Bennett, Chief Counsel, D.C. Office of Lottery & Gaming, provided an overview of “Washington, DC Sports Betting.”
He showed a timeline for the city’s Sports Wagering Lottery Amendment Act of 2018. DC’s hybrid model differs from both the privately-operated tax model and the government (lottery) operated model. It includes Class A and Class B operators as well as lottery-operated.
He also provided a comparison of the two tax models. Among the positives of the government (lottery) operated model are “likely higher revenue to the District, control over gaming products, cross marketing of gaming products and revenue (commissions) to licensed retailers,” said Bennett. “Negatives are likely lower payments (odds) for bettors, limits on game options and potential downside risk (mitigated by vendor contract).” The estimated five-year revenues for DC’s hybrid model is $99.3 million.[pdf-embedder url=”https://lafleurs.com/wp-content/uploads/2019/12/Washington-DC-Sports-Betting_Ridgely-Bennett_DC-Lottery_OLC.pdf” title=”Washington DC Sports Betting_Ridgely Bennett_DC Lottery_OLC”]