Progress on Mississippi Mobile Sports Betting Bill
Mississippi is one step closer to legalizing online sports betting. On Tuesday, the House Gaming Committee approved HB 774, the Mississippi Mobile Sports Betting Act.
Live sports betting has been legal in the Magnolia State since 2018. However, online gambling remains banned due to concerns that mobile betting could cut into casino profits.
HB 774 would legalize mobile sports betting but require bettors to use online services at existing casinos. Rep. Kathy Earl (R-Saucier), chair of the House Gaming Committee, is the bill’s lead sponsor.
The ultimate goal is to protect our buildings," Yule said."Every mobile sports betting is tied to the physical building. "
Yule has been a key figure in the push for sports betting regulation since the Mississippi Mobile Online Sports Betting Task Force met last October. There are 26 casinos in Mississippi, according to the task force.
Current House proposals would require online sportsbooks like DraftKings or FanDuel to partner with brick-and-mortar casinos before customers can participate in mobile betting.
The 122-member House of Representatives could vote on the measure this week.
Other fees for mobile arena
Your bill is the third sports betting bill introduced in the Mississippi House of Representatives in the past two weeks. But it’s the only one that has bipartisan support.
Last week, Rep. Cedric Burnett (D) introduced HB 271 and Rep. Jay McKnight (R) introduced HB 625. Two identical bills create a graduated tax system based on revenue from online sports betting. Under the proposed system, the tax rate would be 4% on income up to $50,000, 6% on income up to $134,000, and 8% on income above $134,000.
Your HB 774 would impose a 12% tax on sports betting, with 4% going to the local municipality where the sponsoring casino is located and 8% going to the state.
Mississippi casinos reportedly remain at odds with lawmakers and oppose expanding sports betting.
Democratic House Minority Leader Robert Johnson III (D-Natchez) is concerned that smaller casinos are priced out of the market while larger casinos are quicker to partner with sportsbooks.
How much and how fast
Eure estimates that the Mississippi mobile sports betting bill, if enacted, could generate $25 million to $35 million in revenue in the first year. He believes changing current laws would reduce the influence of illegal offshore sports betting platforms in Mississippi.
Once mobile sports betting is legalized, it will eliminate much of the illegal market. " Earl said.
In introducing the bill, Yule noted that approximately $64 billion is wagered annually on illegal gambling sites. Mississippi accounts for 5 percent of the market, with approximately $3 billion in illegal wagering.
Mobile sports betting is already available in 29 states and Washington, D.C., according to the American Gaming Association. legal.
If the Mississippi House passes Yule's proposal, the bill will go to the Senate. Senate deliberations include a committee and a vote by the full Senate. If the bill is amended in any way, it will be sent back to the House for approval.
Read also:
- Football 101: What is relegation in football?
- Lost Vegas: Lucky Strike Prospector Statue
- Macau casinos to win $22.7 billion in 2023, sparking surge in non-gaming investment
- Brutal Nevada murder linked to prostitution
Source: www.casino.org
