00:00Washington, D.C., where iGaming is always a hot-button topic, and naturally, this is a state that would like
00:06to legalize and regulate some more casinos there.
00:09What does this bill exactly entail, and what chance do we have to see it move forward?
00:15Yeah, Washington, D.C., not just because it's, you know, not a state and it's a jurisdiction on its own,
00:21has been really interesting in terms of its gaming laws, sports betting, and now iCasino, which it's considering as well.
00:27Only a few states have this product, which you can play blackjack on your phone, table games on your phone.
00:34But we're seeing now D.C. becoming a lot more warmer to this kind of opportunity or idea because mainly
00:41they're losing tax revenue to the black market.
00:44That's the big kind of core argument from supporters like Councilman Kenyon McDuffie, who has this new bill.
00:50He's saying people are already gambling online. People are already going to neighboring states as well to do online casino.
00:57And, you know, for companies like DraftKings and FanDuel, which continue to do sports betting and not predictions,
01:03online casino is really the endgame for them.
01:05Again, you know, the margins they make on online casino are way higher than sports betting.
01:10I think the average sports betting hold last NFL season was around 10 percent.
01:16And on table games on your phone, it's about 50 percent.
01:20So they make a lot more money.
01:21And in turn, the state would make a lot more money from taxing as well.
01:24That's really his big argument here.
01:26You know, that has not voted well in other states over the years.
01:30But this could finally be the time if D.C., obviously a very special kind of place, if they pass
01:36something for a neighboring state like Maryland or Virginia also pass something.
01:41You know, they see the residents leaving to another state and then enter an online casino legislation really picks up.
01:46So it's another kind of more interesting story, more subtle within the whole prediction market debate that we're following for
01:51the rest of the year.
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