New Delaware Sportsbook Bill Aims For Online Expansion

• Delaware legislators introduced a new sports betting measure that would expand the online sportsbook market.

DOVER, Del. – On Thursday, Representative Franklin D. Cooke introduced DE HB 365, a sports betting measure that was then assigned to the House Administration Committee.

Known as the Delaware Internet Sports Lottery Authorization Act, the new Delaware sports betting bill would expand the number of operators in the state.

The Details Of The Delaware Sportsbook Bill

The measure offers each video lottery agent the ability to partner with two sportsbook operators after paying a $500,000 five-year license.

After paying out winning wagers, Delaware sportsbooks would be required to send 18% of revenue to the state, on par with the nation’s sportsbook tax rate.

With the Delaware Lottery’s massive impact on the industry, new revenue would help support the state.

• General Fund: Licensing fees are deposited into the General Fund, covering many expenses in local government.
• Office Costs: Administrative expenses and office expenses help fund the Lottery.
• Compulsive Gambling Programs: Another percentage of the tax benefits helps fund the Division of Substance Abuse and Mental Health (DSAMH) in the Department of Health and Social Services. This money focuses solely on the assistance, education, and treatment of problem gamblers.
• State Lottery Fund: Any other revenue goes to the State Lottery Fund, similar to the General Fund.

Different Betting Options

Aside from the expansion of sportsbooks in Delaware, the types of wagers accepted would also increase. DE HB 365 would allow for betting on esports and amateur events.

The final regulations would be issued within one year as the Act would be implemented within 150 days from passing.

While this timeline is based on everything going well, the bill is still in its primary step. Within 12 days, the Administrative Committee will meet to discuss the legal sports betting measure, adding more insight into the Delaware online sportsbook industry.

News tags: DE HB 365 | Delaware | Delaware Lottery | Franklin Cooke