I love this story.
It fits into my ongoing exploration about the origins of law. This story has the added feature of highlighting a conflict in the law.
Here's helpful background:
- Statute of Anne.
- LLC - limited liability company.
- 16 Benefits of a Delaware LLC.
- § 16–1702. Recovery of losses at gaming.
- Click here for the article.
More than 300 years ago, wanting to protect gamblers from losing everything, the British Parliament passed the Statute of Anne, named for the then-reigning British monarch, Queen Anne.
Until now, that is.
The 18th-century statute is now threatening the major sports betting companies that operate in D.C., emerging recently in a federal lawsuit filed this spring against the companies by a mysterious Delaware-based LLC.
The LLC, DC Gambling Recovery, revived the Statute of Anne in seeking to recover potentially millions of dollars in gambling losses from sports betting giants, including Caesars Sportsbook, BetMGM and DraftKings, that it says the law allows it to recoup.
In D.C., the law states that gambling losses of $25 or more can be recovered in a lawsuit. If the plaintiff wins, the LLC would be required to split the damages in half with the city, and its attorneys estimate the District could take in more than $300 million. That is, if the D.C. Council lets the lawsuit move forward.
On Monday, D.C. lawmakers may vote to change the Statute of Anne for the first time in decades by clarifying that the 18th-century law does not apply to legalized modern sports betting — a retroactive provision that they’ve attached to the nearly $22 billion budget that could, in turn, moot the lawsuit.
See also: Wilson Building Bulletin: The fight over a British monarch’s gambling law continues.
