Close Menu
Sports

Kansas quickly launches sports betting

Delbert Williams IIBy No Comments4 Mins Read

[ad_1]

By the beginning of 2022, Kansas legalize sports bettingA few months later, serious questions arose about the bill’s ability to pass the state legislature.

If the House and Senate agreed to the bill, Gov. Laura Kelly was expected to sign it into law, but Kansas was without seats until April. Finally, late one night in April, the House and Senate agreed on a bill to legalize sports betting.

Unlike other states across the country (looking at you, Maryland), Kansas regulators moved quickly to launch the sportsbook.It took just 4 months from legalization to launch in Kansas, near US record

Let’s take a look back at a busy and productive year for sports betting in Kansas.

Efforts to legalize betting revived in January

January, Kansas State Senator Revitalizing Efforts to Legalize Sports Betting Senator Robert Olson shared a memorable quote after an information hearing on sports betting.

After a staff presentation on sports betting, he said: “I’d like to see if we can find a compromise…maybe fix this and do a little magic.”

March, bill deliberations

sports betting bill discussed Tax rates became a key point of contention in the Kansas legislature in March.

Lobbyists speaking on behalf of sports betting operators felt the proposed 20% mobile tax rate was too high. There was also debate about how much tax revenue should be set aside for responsible gambling initiatives.

Bill sent to governor in April

In early April, the House of Representatives approved a sports betting bill. long discussion It went on late into the night while the Senate delayed decision on the bill.

“I may actually die of heart failure, but one more step accomplished,” Rep. Stephanie Clayton tweeted after the House passed late at night.

End of April, House and Senate reached an agreement On the bill to legalize sports betting in Kansas. Debate in the Senate went past midnight before approval.

The bill allocated 80% of gambling tax revenues to a fund aimed at attracting professional sports teams to Kansas. It also included a memo stating that 2% of tax revenues from sports betting will be donated to problematic and responsible gambling funds.

Additionally, all digital sports betting platforms must be connected to existing casinos and have a tax rate of 10% on the bill. The bill awarded up to three skins to each casino in the state and allowed up to 50 eligible private entities to contract with license holders to offer wagering via kiosks.

The bill, signed by Governor Kerry, required sports betting to begin in Kansas before January 1, 2023.

August, release date decided

In August, the Kansas Lottery announced sports betting. Scheduled for release on September 1, 2022Regulators worked swiftly to turn the passage of the bill into a statewide sportsbook launch.

neighboring country Missouri No agreement was reached on the sports betting bill during the legislative session.

Release date arrives in September

legal sports betting Released in Kansas At the beginning of September, only Iowa had the fastest timeline from legalization to launch.

6 sportsbooks (bar stools sportsbook, Bet MGM, caesars sportsbook, draft kings, fan duelWhen point bet) began in Kansas on September 1.

Confirmation of settlement of accounts in December

Kansas early financial gains are promising as Kansas operator took only three months reach $500 million in handles.

Sports betting brought over $1 million to the state between September and November.in his six promotional spending in the state mobile sportsbook With it declining, the state is expected to start seeing an increase in tax revenue in the coming months and years.

The Kansas City Chiefs’ involvement in the NFL playoffs will likely impact the amount of sports betting that takes place in the coming months. The Chiefs are expected to enter the postseason as one of the Super Bowl frontrunners.



[ad_2]

Source link

Share.

Born in the early 80s in Milwaukee, Wisconsin, Delbert Williams II has always had a passion for writing. Even in high school, he earned excellent grades in English and writing classes. After attending John Marshall High School, he graduated from Project Stay Alternative High School in Milwaukee. From there, Delbert attended Milwaukee Area Technical College, where he studied music and communications. While he enjoyed these fields, his love for writing remained strong. In 2019, Delbert founded Hard Stack Street Mag, a publication that quickly gained a following for its unique and engaging content. As the founder and editor-in-chief of the magazine, he has worked tirelessly to produce quality articles that cover a wide range of topics, including music, art, culture, and politics. Now 42 years old, Delbert continues to pursue his passion for writing and journalism. Through Hard Stack Street Mag, he has created a platform that allows him to share his voice and perspective with readers from all over the world. With a strong background in writing and a deep understanding of the power of storytelling, Delbert Williams II is a writer to watch. He is dedicated to producing content that is both informative and engaging, and he is committed to using his platform to shine a light on important issues that are often overlooked by mainstream media.

Related Posts

Add A Comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.