South Dakota Sports Betting Bill Signed into Law
South Dakota Sports Betting Bill Signed into Law
You may not know too many people from South Dakota, and there may not be any professional sports teams from any of the major leagues in South Dakota, but they still want in on the booming sports betting industry. South Dakota Governor Kristi Noem has recently signed the sports betting bill into law, making it legal for sports betting to take place in the state. Unlike some of the other states across the country, South Dakota has a much different approach to providing legal sports betting.
In South Dakota, sports betting is legal in the city of Deadwood. Not only is sports betting legal in only one city it needs to be done at a Casino. Deadwood has around 25 Casinos that can all apply for a sports betting license that will cost $2,000. Each year the Casinos will need to pay an annual $2,000 fee to keep the license. Back in November, voters approved of legal sports betting in Casinos in deadwood.
Let’s see how the South Dakota sports betting signed bill signed into law will affect the city of Deadwood
Deadwood on Legal Sports Betting
Mike Rodman, the Executive Director of the Deadwood Gaming Association, is excited that Governor Noem approved of sports betting in South Dakota.
“It’s a big day for Deadwood, and our next step now is to work with the South Dakota Commission on Gaming to promulgate the rules,”
Rodman said;
“We’ll be working through the process with the hope that we will be able to offer sports wagering by Sept. 1.”
If South Dakota and the different Casinos can take care of everything by Sept. 1 that will be primetime for wagering to be brought to the State. Sept. 1 would bring legal sports betting to South Dakota just in time for the kickoff of the 2021 NCAA football season, a week before the 2021 NFL season kicks off and right as the 2021 MLB playoffs are getting ready to be underway.
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Casinos and not Online
For most states in the U.S. that have legalized sports betting, you see online gambling legalized at the same time as in-person wagering. There is no timeline for online sports betting to be approved in South Dakota, making it a little bit more difficult for everyone in the state to wager on sports. At the end of the day, wagering inside of Casinos in Deadwood is much better than not being able to wager at all.
According to a Rapid City Journal report, sports betting will be able to take place via betting windows, kiosks, or a mobile app while at the Deadwoods Casinos. South Dakota becomes one of just a few midwestern states to offer legal sports betting at some capacity.
Expected Revenue
According to the Deadwood Gaming Association, they are expecting around $22 million in revenue due to gaming, $2.2 million from gaming taxes, and over 100 jobs being created as a direct correlation to the law being passed. As we can see, the state already expects to see some direct benefits from the approval of legal sports betting in South Dakota.
