The South Dakota Gaming Commission has approved the new rules on sports betting. All the applications for aspiring operators will be accepted from 1st July 2021.
All the new rules that will become a crucial part of the sports wagering bill were passed in March.
According to the newly announced rules, sports betting will be considered as the authorized gaming by the commission. Operators can access the license application from the official website of the South Dakota Gaming Commission.
The license application was made available on the site on 20th May 2021, and the application will be accepted from 1st July 2021.
As per the new rules, operators who are willing to offer sports wagering as a gambling service have to pay $5,000 as an application fee which seems mandatory. In addition to the application fee, operators also have to pay $2,000 as a license fee. The charge for license renewal is $2,000 that will be outlined on the original bill.
The new rules dictate that operators need to keep records of their gambling business. Since now the gambling activities are majorly performed online, operators are required to keep a precise footprint of their sports wagering services.
Operators should have proper gambling equipment inspection and are prohibited from manufacturing any gambling equipment or slot machines on their own as per the new rules.
Operators are required to provide preventive steps for responsible gaming to their customers and present an entire plan to prevent addictive playing to the committee.
As per the new rules, applicants and licensed operators are strictly prohibited from presenting the gross revenue records when demanded by the gaming commission. Operators are required to submit the measure and strategic reports on the steps they take to maintain security and surveillance.
The new bill states, if operators are willing to allow customers to place their bets online or via mobile phones, customers are first required to manually register themselves with the casinos. The new bill does not state any information on the tax that operators might have to pay for their sports wagering services.
The gaming commission will send the revised amendment to the State Legislature’s Interim Rules Review Committee for authorization.
The Senate Bill 44 passed on the South Dakota Senate by a vote share of 32-2 in February 2021. The State’s House of Representatives passed the bill by the vote 58-8 in March 2020. Gov. Kristi Noem signed the bill into law to legalize sports betting in Deadwood, South Dakota.
Sports Betting in South Dakota is limited to the casinos present in Deadwood. Even though some confusing language in the legislature might open the opportunities for mobile betting, the Deadwood Gaming Association Executive Director states that the geolocation technology will make sure that all the rules are strictly followed.
Sioux Falls is the most populous city and is a 6-hour ride away from Deadwood which leaves the majority of the population of South Dakota Deprived of Sports betting.