Currently there are four states where legalized sports betting is legal. These states are Arizona, Colorado, Wyoming and West Virginia.
Legalized sports betting in Arizona
During the legislative session of 2019, Arizona sports betting bills were introduced multiple times. Several senators proposed legislation to legalize sports betting in the state. Some were passed and others were rejected. One bill never reached the floor of the Senate. Other bills were reintroduced, but did not move past the second reading. Despite these setbacks, Arizona sports betting will likely be a reality by April 2021.
Arizona sports betting is expected to be a huge revenue generator for the state. It will bring in $30 million in tax revenue annually. This money will help fund the essential services and economy of the state. The tax rate is 8% on retail revenue and 10% on online revenue.
Legalized sports betting in Colorado
Currently, sports betting is legal in Colorado through licensed casinos. These casinos can also offer sports betting online. In addition, a handful of legal sportsbooks have launched in Colorado. These sportsbooks use geolocation technology to locate customers and place wagers.
The sports betting market is expected to continue growing. The Colorado Department of Revenue reported $25.6 million in wagers in May. This is a big jump from April. In January, the Colorado sports betting handle hit an all-time high of $573.7 million.
Colorado voters approved Proposition DD, which legalized sports betting, last November. The revenue from sports betting will go toward funding water projects and schools.
Legalized sports betting in WV and Wyoming
Earlier this year, Wyoming passed a bill to legalize sports betting. The legislation is set to go into effect in 2021. Although it has not yet been ratified, the state’s governor, Mark Gordon, signed the bill into law.
The legislation does not set a cap on the number of licenses. Instead, operators can apply for a five-year license. They will pay a one-time initial fee of $100,000 and a renewal fee of $50,000 when it is due. Wyoming sportsbooks will collect taxes on their taxable sports betting revenue at a rate of 10%.
Wyoming sportsbooks took $7.3 million in bets during June. They expect to take $15 million in October.
Whether you’re a sports betting beginner or a pro, DraftKings is the place for you. It has a user-friendly design, a wide range of betting options, and some interesting betting markets. Its banking options are convenient and easy to use, too.
DraftKings is licensed by the State of New Jersey, and operates under the Resorts Casino license. In addition to sports betting, DraftKings offers daily fantasy sports products in most states. They also offer a number of prepaid options. Using these prepaid options, users can make their payments directly to DraftKings.
DraftKings also offers a number of other features, including a social feature. This allows users to follow other users, allowing them to view their bets and contests. It also allows users to edit their bet slip.