Redskins to Officially Change Their Name

The Washington Redskins will officially announce a name change on Monday.

Presidents promised a payout of $30 for every $10 bet at BetOnline, Lincolns $40, Americans $50, Kings $50, Memorials $50, Capitols $60, Veterans $60, Jeffersons (highly unlikely) $70, Roosevelts $70, Monuments $80, Arlingtons $100.

No name is to be announced on Monday, according to reports.  This is primarily a result of trademark infringement concerns.

Last week, ESPN's Adam Schefter reported that the franchise would not use any Native American imagery. Washington's logo of an Indian chief had been designed by a Native American in 1971.

Another source told ESPN that the plan, as of now, is to retain the franchise's use of burgundy and gold colors. Coach Ron Rivera had said the team wanted to include the military in its new name, as well.

- Mary Montgomery, Gambling911.com