The recently signed Kansas sports betting legislation goes into effect on July 1, potentially positioning the state to be ready for the start of the 2022 NFL season. Speaking of the NFL, Gov. Laura Kelly (D-KS) says Kansans should not bet on revenue from regulated sports wagering being enough to lure the Kansas City Chiefs […]
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The lately signed Kansas sports activities betting laws goes into impact on July 1, probably positioning the state to be prepared for the beginning of the 2022 NFL season.
Kansas Gov. Laura Kelly on the 2018 marketing campaign path. She says sports activities betting within the state isn’t more likely to lure the NFL’s Chiefs. (Picture: CNN)
Talking of the NFL, Gov. Laura Kelly (D-KS) says Kansans mustn’t wager on income from regulated sports activities wagering being sufficient to lure the Kansas Metropolis Chiefs from neighboring Missouri. Beneath the phrases of the invoice, 80% of state-earned income from regulated sports activities wagering might be funneled to the Kansas Division of Commerce fund. These proceeds may very well be allotted to creating knowledgeable sports activities venue within the state.
Forecasts point out sports activities betting may create $1 million to $5 million in new income for Kansas — not almost sufficient to lure knowledgeable sports activities crew. For her half, Kelly says neither she nor anybody on her employees reached out to Chiefs possession a couple of potential transfer.
And fairly actually, when you concentrate on it the amount of cash that this invoice would generate and put into that fund, it could not come near being what you would wish to have the ability to appeal to a significant league,” she mentioned in a latest media look.
In what’s been a sluggish interval on the regulatory entrance, Kansas and Maine are the one states to approve sports activities betting laws so far in 2022. Of that duo, solely Kansas is predicted to be dwell earlier than the top of the yr.
Kansas Sports activities Betting Panorama
The industrial casinos in Kansas are Boyd Gaming’s Kansas Star, Penn Nationwide Gaming’s Hollywood, and the Prairie Band On line casino & Resort. The Golden Eagle is a tribal gaming venue.
Moreover, it’s doubtless that outstanding on-line operators, together with BetMGM, Caesars Sportsbook, DraftKings, and FanDuel will search entry into Kansas. Residence to simply 2.91 million residents and no skilled sports activities groups, the state isn’t probably the most coveted market. But it surely may very well be a bolt-on income alternative for operators.
It’s additionally believed that some Kansans are touring to neighboring Colorado and Iowa to position bets, and that tide may very well be stemmed by launching sports activities wagering within the plains state. Missouri is probably going out of the sports activities betting laws equation till 2023.
Promoting prices on native media there’s doubtless cost-efficient, and the state may very well be accretive to gaming corporations’ prime strains. Plus, the state hosts two NASCAR races per yr, and is house to the rabid Kansas College basketball fan base.
Kansas plans to levy a ten% tax on sports activities bets.
Some Authorized Wranglings
There’s some authorized maneuvering occurring in Kansas associated to sports activities betting. Boyd Gaming is suing the state, the Kansas lottery, and the Kansas Racing and Gaming Fee, claiming breach of contract.
The Las Vegas-based on line casino operator contends the state and people companies are breaching contract by permitting historic horse racing machines at a racetrack within the state.
It’s unlikely that litigation will have an effect on the state’s broader plans to launch sports activities betting.
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