Montana lottery releases sports betting rules
Montana is set to become the next state to allow sports betting within its borders with a planned launch set for some time later this year. In anticipation of this, the Montana Lottery has released the planned rules and regulations that will govern the popular gambling activity. The draft, which still needs to undergo public consultation, will finalize regulations surrounding sports betting once accepted.
Following the Supreme Court of the United States’ decision to strike down the federal ban on sports betting in May 2018, Montana was the ninth state to legalize sports betting. State lawmakers have deliberated a lot over how the new market will be run, and have opted to restrict all sports betting services to the Montana Lottery provider Intralot.
Montana Lottery Estimates 1400 Potential Licensees in State
The decision to make Intralot the sole provider of sports betting services in the state has not gone without contest, especially as it allegedly did not follow tender protocol. The contract seems to be particularly lucrative as all gambling licenses will be tied to liquor licenses. This means that any license bar will have the opportunity to apply for a sports betting license.
Currently, it is estimated that more than 1400 venues can apply for a sports betting license to go with their liquor license. In addition to the fact that there are already so many eligible venues, licenses are said to cost only US$50, meaning that it won’t exactly be difficult to get hold of one. Contrast this with the hundreds of thousands or even millions casinos in states like Nevada or New York have to pay, and the decision definitely seems very odd.
That said, gambling may be somewhat less profitable in Montana than in other states. All new sports betting licensees in the state can expect to earn 6% commission on their sales, in addition to bonuses for exceeding targets. While this may prove to be an extra bonus, Las Vegas casinos don’t really have to worry about sports betting bars in Montana overtaking their market value anytime soon.
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