Washington Football Team Emerges First NFL Franchise to Acquire Sports Betting License

Washington Football Team has emerged as the first NFL franchise to obtain a sports betting licenses in the United States. Washington Football Team in collaboration with FanDuel was issued a sports betting license by the Virginia Lottery in the state of Virginia. The team has gone ahead to set up a mobile sportsbook for the use of bettors.

However, the revenue model from Virginia sportsbook as well as details of financial arrangements between Washington and FanDuel remain secret since the franchise did not make this public. It must be noted that NFL franchises are not permitted to take part or deal in sports betting services, but they can partner with a designated sportsbook to make use of their betting permit in US states where teams are licensed.

Mike Raffensperger, chief marketing officer for FanDuel, revealed that the particular way the Virginia legislation is structured worked out to favor the bid of Washington and FanDuel for a permit. He said the “preferential treatment” they were given enabled them to become the first sportsbook that will go live in Virginia. He called the development a privilege.

To this end, Raffensperger disclosed that the logo and trademark of the Washington Football Team will soon feature in the state’s online sportsbook. Further to this, the logo of FanDuel will become prominent at FedEx Field in Washington DC where the partnership will soon be taking root. Although the partnership of Washington and FanDuel is the only approved sports betting licensee in Virginia, the state’s sports betting market will only be launching online for the time being.

Meanwhile, Illinois and the District of Columbia also grant football betting permits to corporate teams and some stadiums. What this means is that other NFL license franchises may be coming in the future to other sports gamble firms in Virginia and other states of the US. This fact was revealed by Scott Ward, one of the individuals that helped with drafting sports legislation in Virginia. The sports betting legislation was sponsored by Mark Sickles, the state lawmaker.

“It’s exciting that the NFL teams and other league teams are getting involved,” Scott Ward said. “I think we’re going to see this in other states, particularly throughout the South, where you don’t have casinos, including Texas.”

The Washington-FanDuel franchise operates in Virginia but their headquarters and training facility are based in Ashburn.

Sports betting markets are expected to launch in 20 other states as a regulated venture. The legislation has been approved in five states and they are getting set to launch their betting markets, and up to 12 other states are reviewing the possibility of passing the legislation.

Potential sports bettors may consult more info here to learn the newest details about football betting and legislation as well as sports betting markets across the United States and abroad.