Capital One Arena Announces Their In-Arena Sports Wagering Ideas

• D.C. approved their sports betting bill in late December of last year.
• Capital One Arena will host a sportsbook that is accessible from spectators and passersby.
• The book is expected to launch in time for the start of the NFL season.

WASHINGTON – During Wednesday morning’s Sports Betting Executive Summit in Washington, D.C., the belief that wagering possibilities would arise in Capital One Arena became less of a belief and more of a reality.

Ted Leonsis, the owner of Monumental Sports and Entertainment, which owns Capital One Arena, conveyed the project’s plans and timeline, as noted by Darren Rovell.

The Greene Turtle will be the location for the in-arena sportsbook which will be the first of its kind in the US.

Monumental Sports bought out the remaining 3 years of the lease for the restaurant, which will continue operations until April 9 – the Wizards last home game. After that, it will become an open area during the Metropolitan Division leading Capitals’ playoff run and then begin the renovation immediately after.

“There will be a sportsbook in the building accessible from outside, depending on the league, depending on the event, it may be accessible from the inside as well,” said Leonsis.

Those who had not purchased a ticket for the sporting event will still be able to enter and place wagers, according to Leonsis. The book will also be able to settle bets at the facility immediately after the game.

The Background And Timeline Of Legal DC Sports Betting

Not slated to begin offering betting lines until the start on the NFL season in September, regulations and contracts are still up in the air for the District. While the original plans were to have a mobile betting platform up and running by MLB’s Opening Day, the adoption of regulations (after public comment) are expected to be finalized in July.

While the setback is making residents wait in anticipation, DC’s process of giving Intralot the only license saved the District from going through a bidding process, ultimately postponing legal sports betting for two years, according to District CFO Jeff DeWitt.

Betting on all major professional sports is included in the approved bill; however, there are no set standards for collegiate wagering.

Though Capital One Arena is the first to develop a plan for a brick-and-mortar sportsbook, licenses were also granted to Audi Field, National’s Park, and St. Elizabeth’s East Entertainment and Sports Arena.

Mobile betting is also included in the provisions, but will not see a wager placed until January 2020. With a deal to be made with a sports betting app designer and the approval from Mayor Muriel Bowser, District officials are expecting the timeframe to take six months at the minimum. Then, testing and verifying the app must take place, which sets 2020 as the expected mobile launch date.

The District will receive 10% of the gross sports wagering revenue from the preceding calendar month which will go to fund violence prevention programs, childhood education, and problem gambling treatment.

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