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Captain Gambling: Weekly Industry News Update – 12/13/2020

Author: Michael McKean
Last update on: December 13th, 2020
Topic: News
Experiences Tipping

Welcome to the weekly industry news digest at CaptainGambling.com, where our experts give you the latest updates and information regarding betting legislation in all states across the USA as they happen.

This week’s top stories:

  • Is legal gambling heading to Texas in 2021?
  • Amended Ohio sports betting bill goes before committee
  • DraftKings & Foxwood partnership anticipates legal betting in CT

Texas

Many insiders from the gambling industry are predicting a strong push for some form of legalized gambling in Texas in 2021. 

The Lone star State is thought to be the place of highest interest on the map for the gambling industry. Global Market Advisors director of government affairs, Brendan Bussmann, has said that Texas has the potential to become the “crown jewel for sports betting” due to its abundance of high profile sports teams and personalities. Additionally, he added that millions of dollars was currently being lost to the illegal market that could be “recaptured". 

Texas is also a well populated state that remains among the richest in the country, meaning casino resorts are poised for legalization as well as sports wagering companies. The state also has an odd-year legislative calendar, so 2021 is very much the year to try and push some form of bill through. In November, neighboring Lousianna voted to legalize sports betting, potentially opening up 300 miles of border to the Texan population. The Louisiana border is around 150 miles from Houston and its 2.2 million population, so this could put huge pressure on Texas to legalize some form of sports wagering themselves. 

Ohio

An amended version of the Ohio Sports Betting Bill has now received backing and will go before the committee for review next week. 

The amended bill provides a potential path towards legalized sports betting in the Buckeye State. The bill was presented and approved for committee review at the Ohio Senate General Government Agency Review Committee on Tuesday. One key aspect aspect of the amended bill is that licenses will cost $200,000, rather than $400,000, which was previously displayed incorrectly. This is split into $100,000 for the application and $100,000 for the license itself and must be paid & renewed every three years. The proposed tax is 8% on sports gaming receipts, 98% of which will be put towards funding education projects in Ohio, with the remaining 2% of revenue going towards assistance with problem gambling.

Connecticut

DraftKings has this week formed an official partnership with Foxwoods Resort ahead of the anticipated launch for sports betting in Connecticut. 

Sports Betting is yet to be legalized in Connecticut, yet DraftKings are no the only company to move in anticipation of the potential change in legislation. Casino gambling is somewhat legal in Connecticut, however there are just 2 retail casinos in the entire state, both of which are hoping to add retail sports wagering once legislation changes. The neighboring state of Rhode Island already has legal online sports wagering, while legal sports betting in Massachusetts is also thought to be on the near horizon. 

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