A report came out last week that the “beginning of the NFL is a realistic start date for South Dakota sports betting.” That’s great news for all of us at the Kota Sports Gambling Network along with all of our fellow South Dakota sports bettors.
Now we turn our eyes on to Monday, August 2, just a few days away. That’s when the South Dakota Gaming Commission is set to approve the sports betting rules. The next date to circle on your desk calendar is September 8. This is when everything should be approved. The NFL Preseason begins September 5 with Dallas vs. Washington at Tom Benson Hall of Fame Stadium in Canton, Ohio. With just three preseason weeks this season the regular season is set to kick off on Thursday, September 9 with Dallas at Tampa Bay.
The final rules haven’t changed much from the original betting plan. The main alteration is, “that federal excise taxes are no longer allowed to be removed from sports betting revenue,” according to usbettingreport.com.
The required tax rate for operators is 9% for sports betting revenue. The application fee is a modest $5,000. The tax rate and application fee are very low relative to other retail betting rates in the United States.
This fee covers background checks, record keeping, and surveillance of operators once sports betting launches. The original rules were drafted in May, and there are some interesting regulations that license holders must follow.
Sports betting equipment will be recorded like table games on casino floors. There will also be frequent equipment inspections by the South Dakota Gaming Commission. Additionally, gambling suppliers cannot bet on the sports betting equipment they provide to casinos.
As many South Dakotan’s know, Deadwood is the only spot in the state where sports betting will be offered. I’d expect down the road a few years that that will change but for now it’s only Deadwood. There was a strong effort to include mobile betting but it was shot down. Like I said above, give it a few years and that will be back on the table.
Under the sports betting bill, SB 44, bettors can place wagers at windows, kiosks, or mobile apps inside casinos. The mobile app will not work outside of an individual casinos’ property.
The mobile betting feature will require people to register in person at a specific Deadwood casino. Not allowing mobile sign-up will likely make people bet from kiosks and at windows. There will also be no bets allowed on South Dakota college teams.
There will be wagers allowed on college sports. However, props are prohibited in all amateur competitions.
Ladies and gentlemen, we are getting closer to football season everyday and getting closer to being able to swing down to Deadwood and place a wager on the Minnesota Vikings season total over 8.5. Stay tuned for more updates.
