Could sports betting become legal this legislative session?

Could sports betting become legal this legislative session?

Could sports betting become legal this legislative session? The Sports Betting Act 2,0 is being discussed in the Minnesota Legislature, but there are a few hurdles to overcome first.

There are only a few more months before the end of the Minnesota legislative session. Although one of the big-ticket items talked about is could sports betting become legal, throughout the state of Minnesota.

More than 38 states have already legalized some form of sports betting in the past five years. Minnesota Sen. Jeremy Miller of District 26, said one divisive aspect of the sports betting bill is that it would prohibit in-game wagers.

“Based on the latest estimates and the latest proposal that’s moving through the legislature, once we remove that in-game betting portion, it would probably generate about $60-$80 million per year by far in the state of Minnesota, once it’s fully implemented,” Sen. Miller said. “”Other states have now passed sports betting, plus Puerto Rico and Washington, D.C. as more and more states continue to pass sports betting proposals, Minnesota sort of remains on an island. We’re missing out on this $100 billion industry.”

The sheer amount of potential revenue also plays a role outside of the Minnesota legislature. Sports betting involves several stakeholders, like for example the Minnesota Indian Gaming Association.

Rep. Liish Kozlowski of District 8B, said to legalize sports betting, there’s another important facet. Part of bill would need to have tribal exclusivity with gambling licensing.

“it’s 5050 that we could thread the needle between making sure that we have the most rigorous protections,” Kozlowski said. “That we have a safe, competitive marketplace, and that we also ensure that we’re able to lock in that tribal exclusivity. All of these things can be done with this bill. But it’s going to take some more work to make sure that we land the plane before the end of session.”

Another issue with the piece of legislation is the matter of addiction. Jeremy Kudon, the president of Sports Betting Alliance, said it should become a legal regulated market. He said it would help get rid of dangerous black market betting practices and help people with a gambling addiction.

“We can’t put our heads in the sand and deny that this already exists. That there aren’t people who are already hurting by not making the legal market. By not giving them options to self-excluded, to limit themselves, to get help. By not having funding for the hotline in Minnesota. I would employ them to give those people the resources that they need to get better.”

Also for more information on Sports Betting in Minnesota you can read more here. Although for another story about Sports Betting for March Madness you can read more here.