Lawmakers in Minnesota are considering a bill that would permit sports betting in the state.
Minnesota lawmakers are considering legislation that would permit the regulation of land-based and online sports betting in the state.
Minnesota’s sports betting bill
The proposed legislation, SB 410, is a bipartisan bill introduced by Karla Bingham and Jeremy Miller that would permit online and land-based sports betting in the state of Minnesota. If successful, sports wagering would be permitted at racetracks and casinos, as well as online platforms.
Under the legislation, licenses would be valid for one year to applicants who meet the state’s regulations. The legislation does not, however, mention an application fee, license fee and renewal fee will cost.
Licensed operators will then be able to ink a contract with the owner of a land-based casino or racetrack in the state to process sports bets on their behalf. Under this approach, bookmakers will be responsible for the actions of staff members of a racetrack or casino if they violate state regulations.
The legislation states that bets on sporting events may only be accepted if customers place the bets in-person at a casino operated under a compact with the state, in person at a licensed racetrack or 12 months after the regulator issues the first bookmaker licence, via an online betting site or mobile app. Bettors must be located within state lines if placing bets online.
If a racetrack or casino wants to accept wagers on behalf of a sportsbook operator it will need to apply for an affiliate licence. The application, license and renewal fees have yet to be specified.
The legislation proposes a tax rate of 6% on net sports betting revenue for bets taken at a land-based venue and 8% for bets placed online.
So far, the types of bets sportsbooks are permitted to accept include wagers on the winning outcome of sporting events, or wagers for a team or individual to win by a specified number of points.
Operators may also be able to accept over/under bets and wagers on three or more sporting events.
The bill would facilitate the creation of the Sports Wagering Commission which would be charged with regulatory oversight of sports betting in Minnesota.
This Commission would consist of nine members including the commissioner of public safety, the chair of the Racing Commission, five members appointed by the governor with the consent of the senate, two members who are representatives of a Minnesota reservation or tribal community, and a chair.
Members of the Commission must have been a Minnesota resident for at least five years prior to appointment and must have adequate background and experience to qualify for the position.
Another state looking to introduce sports betting
Minnesota is the latest state to consider the legalisation of sports wagering in 2021.
Lawmakers in Alabama, Nebraska, North Dakota, Washington state are currently considering bills that would authorise sports wagering within each state.
Other states with existing sports betting markets are also considering new bills that would allow for the expansion of the industry.
Mississippi is considering SB 2396, a bill that would bring complete statewide mobile betting to the state by allowing each casino operator to offer one online betting option.
The state of New York is also considering legislation that would allow statewide mobile sports betting in the Empire State. Governor Andrew Cuomo has thrown his support behind legalising online sports betting in an attempt to bolster state finances in the wake of the coronavirus pandemic.