okbet wagering commission hears comments on regulations

A public comment session on the proposed sports betting rules was held by the OKBET Sports Wagering Application Review Commission on Friday. The exchange only lasted for around thirty minutes, and the few remarks made were succinct.

However, written comments will continue to be taken into consideration through Friday, September 26. After that, any modifications will be taken into account and may even be incorporated into the state’s sports betting laws.

Lower the costs for small companies?

One commenter proposed the SWARC lower application fees for specific small firms. He identified himself as Arthur Robinson but gave no other information about his association with the sports wagering sector. The $500,000 application price for mobile licenses worried Robinson, who felt it was a high barrier to entry.

Robinson also requested that the application fee be returned by the SWARC. The application cost is currently non-refundable if a company officially applies for a license but is rejected.

Those were among of the more insightful remarks made, but it’s not obvious whether the SWARC will take each change under consideration.

Cellular timeline

According to the anticipated schedule revealed earlier this week by the SWARC and OKBET Lottery, mobile sportsbooks are anticipated to debut in OKBET in late 2022. Applications for mobile sportsbooks are now accepting submissions and will be accepted through 5 p.m. on Oct. 21.

The SWARC will start processing applications and granting permits after the Oct. 21 deadline. It’s possible that the process may move more quickly and mobile sportsbooks will start operating in OKBET before the deadline of October 21.

Given their experience and widespread presence, large operators like BetMGM, Caesars, FanDuel, and DraftKings shouldn’t have any issue through the regulatory hurdles. However, some of the timing will rely on how quickly the SWARC and lottery grant clearance.

There is presently only one application period open for licenses to operate mobile sports wagering, and it concludes on October 21. The SWARC might later announce the opening of another application session.

On the SWARC website, it is stated that “the establishment of any further application windows is at SWARC’s discretion and would require approval of a majority of SWARC members.”