A Greek gaming services provider named Interlot was contracted to handle sports betting in the Washington DC area. The deal, worth $215 over five years is an exclusive contract. It is believed that sports arenas in the area will be the first priority. These parks include Capital One Arena, Audi Field, Entertainment and Sports Arena and Nationals Park.
Obviously trying to alleviate the usual piles of red -tape that Washington D.C. is known for, Council Chairman Phil Mendelson (D) said: “If we turn this down, there will be another two years, some have said three years, before we have a contract in place. We just know there will be a protest, there will be a lot of controversy, a lot of dispute, and a lot of delay. And there is a significant cost to a delay of a couple of years.”
It is thought that online sports betting will be available to the general public in the D.C. area some time next year. As it stands, the Interlot deal will not resemble your typical sports betting model. Claims from the company are that they will be able to net the city up to 30% of all wagers placed. This is far higher than the average sports betting take you see in Las Vegas or New Jersey sportsbooks. The industry standard is somewhere between 5%-10% depending on whether or not the sportsbook offers parlay cards.
image from blog.careertech.org