Sports Gambling May be Legalized in Delaware
It appears that Delaware may legalize Sports Gambling.
During his campaign for Delaware Governor last fall Jack Markell often hinted that, if elected, he’d support sports betting in his state. Now that he’s got the job, Markell is done hinting.
ESPN The Magazine has learned that sometime next week, according to a statehouse source, Markell will introduce a proposal which, for the first time in more than 30 years, makes gambling on sports legal east of the Mississippi River. The plan, which could be approved by the state legislature as early as April, would likely be operational come fall, just in time for the NFL season.
Markell’s proposal calls for a statewide sports lottery that only allows parlay bets. In a parlay, gamblers have to get two bets right in order to win. It’s an idea that has been brewing in Delaware for a while, long before the economy imploded and the state found itself with a budget shortfall of $700M. In fact, a proposal to allow gambling on sports died in the state legislature last year, when then governor Ruth Ann Minner made it clear she’d veto a resulting bill.
I will BET you that within 2-3 years there will be the equivalent of Ladbrokes in the middle of Times Square – I think Bloomberg shutting down the OTB’s was clearing the path for something like that to move in. As states need money they will turn to legalizing all the “sins” including gambling.
Moreover, I find it interesting that Delaware is interested in legalizing it. As many banks are Delaware companies, I wonder if this paves the way for some sort of move by the traditional financial exchanges into some of the betting/prediction market exchanges. Time will tell