Minnesota Getting Closer to Legalizing Sports Betting

The Lawmakers from Minnesota are getting really serious about legalizing sports betting in this US state. They have introduced a new and very detailed bill called Bill 1894 that the state Senate will discuss on March 7th. If the bill es, it would regulate sports gambling via mobile access and in land-based casinos.

A Thorough Bill

Five Minnesota senators assisted in the making of this bill that was introduced on February 28th. Four of those senators are Republicans…

…while one is a part of the Democratic-Farmer-Labor party which is typical just for Minnesota but is mainly d with Democrats.

The bill consists of 13 pages where lawmakers go thoroughly into specific details about regulations, taxation rules and even talk about zoning laws. The bill says that the casinos that are run by tribes or race tracks will have the permission to offer gambling on sports events.

Also, all gamblers that are over 18 years of age will be permitted to place their bets…

…and they will be able to do that only on professional or collegiate sports. Wagering on virtual sports will be strongly forbidden.

The Taxes

According to the bill, the taxation won’t be that high. All operators that get permission to offer sports betting in the state of Minnesota will have to pay a tax of 6.75% on net revenue. It is still not stated how much the license will cost.

All in all, if the bill es, it will be put in action on September 1 of 2020.

A Word from the Lawmakers

Minnesota wagers will not be waiting for too long for the House to review this bill. State Representatives. Pat Garofalo and Nick Zerwas, have already introduced their sports betting bill.

“For too long, Minnesotans wanting to place bets on sporting events have had to rely on an unregulated process. This legislation brings the sports gambling industry out of the shadows and ensures that consumers have the proper protections in place that allow for a fair and transparent experience,” Representative Garofalo said in an official report.

Racing with the Neighbors

Minnesota is definitely trying to catch up with their neighbors from the state of Iowa, because their sports betting bill already ed their Senate subcommittee.

“We’re being very transparent, having a slow process, making sure everybody has ample time to give their thoughts, pros, and cons on these different plans,” Iowa Senator, Roby Smith, said.

But, the good news is that the Midwest is quite big…

…so the states don’t have to worry about gamblers crossing the borders to place their wagers. It is something that is more likely to happen on the east coast.

Also, their other neighbors, South Dakota, have officially approved the sports betting amendment, so this form of gambling will soon be legalized in this state, but only inside the city limits of Deadwood since it is the only territory where casinos are allowed.

Source:

“Minnesota Senate puts forward thorough sports betting bill”, Derek Tonin, calvinayre.com, March 5, 2019.