SPORTS BETTING AND POOLS LEGISLATION INTRODUCED IN MINNESOTA
Minnesota Representative Pat Garofalo has introduced a series of bills to license and regulate sport betting.
The bills aim to establish the Minnesota Sports Wagering Commission to license and regulate betting on real sports and esports, with licenses available to one or more bookmakers who would be permitted to contract with a casinos or racetrack to offer bets to players over the age of 18.
HF767 would authorise sports betting at the state’s land-based casinos or racetracks for the first 12 months of regulated sports betting, after which time the commission may issue online authorisation to a bookmaker.
This would be subject to a requirement that the website or application is hosted by a licensed bookmaker under a contract with a tribal casino operator, with tribal-state compacts to be negotiated by the Governor to include sports betting.
The bill does not include license fees, although taxes are set at 6 per cent of net sports betting revenue at a casino or racetrack, rising to 8 per cent on bets placed online.
HF767 was introduced on February 4 and referred to the House Commerce Finance and Policy Committee.
Representative Garofalo’s second proposal, HF769, aims to allow retail sports betting pools at tribal casinos and online, with the bill specifically excluding pool betting from the definition of sports betting.
Sports pools would include parlay bets, card wagers, individual bets, proposition bets, or any other type of wager authorised by the commission on any sporting event, with pool wagers subject to an excise tax of 0.5 per cent.
The final bill, HF778, would extend eligibility for sports pools licensure to racetracks for on-site betting and sets a net revenue tax of 6.75 per cent.
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