Efforts to legalize sports betting in Minnesota are gaining traction, according to multiple reports.
CBS News Minnesota reported that HF 2000 and SF 1949, bills to legalize online sports betting in the state, could realistically garner from key stakeholders. The state’s tribes and Allied Charities Minnesota, a group representing small charities in the state that receive roughly $40 million annually from pull tab games, are among those showing . The charities are concerned a betting bill could eliminate or threaten the existence of the pull.
”Well, I think momentum is building, I think we have a great chance,” Rep. Zack Stephenson, HF 2000’s primary sponsor, told CBS. “It’s a difficult bill because gambling bills by their nature have to be bipartisan, there are Democrats and Republicans who will never vote for it. So you have to assemble a broad bipartisan coalition and these days that is very difficult, but momentum is building.”
The Star Tribune’s editorial board even threw its weight behind the push, recently writing an opinion piece in of legal sports betting.
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Under HF 2000, the state’s 11 tribes could each receive one license to offer retail sports betting and one online betting license. The bill could bring up to 11 legal betting apps to Minnesota.
The bill would also legalize daily fantasy sports sites. The state’s horse tracks would like more involvement in the bill, however, which could prove to be a sticking point as the legislative session progresses. Minnesota’s session lasts through May 20.
HF 2000 taxes sports betting at 10% of net revenue, and tax revenue currently goes into several buckets, including one to promote responsible gambling and help those with problem gambling habits.
SF 1949 doesn’t legalize DFS, and it doesn’t allow for in-game betting, a major disappointment for operators. Live betting has grown in popularity over the years, and it’s an important offering for operators.
The bill would allow for 11 mobile betting apps in Minnesota, and sports betting is taxed at 20% of net revenue. The tax revenue goes to a variety of funds, including 5% to the state’s tracks.
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HF 2000 is scheduled for a hearing in the House State and Local Government Finance and Policy Committee on Wednesday. The bill is still in the early stages of progressing through the legislature, as it’ll need to make its way through both chambers.
The same is largely true for SF 1949, which has received discussion in Senate committees, but hasn’t yet hit the Senate floor. It’s set to be discussed next in the Senate Finance Committee.
There’s ample time for state legislators to agree on a framework to legalize sports betting, given the state’s session lasting through mid-May.
