Legal bookie industry will be a reality in Minnesota. However, it is not one of the priorities of state lawmakers. In fact, the Senate Bill that will partially legalize sports betting in the state narrowly got through its first committee hearing Thursday.
The majority leader of the Senate doesn’t like the idea of legal bookie industry in the state. In addition, Native American tribes are against the expansion of gambling. Also, religious and anti-gambling groups don’t want to legalize sports betting.
A sports betting bill filed in the House doesn’t have a schedule for a hearing yet. Also, it doesn’t have the support from DFL leadership. In fact, it also faces the same challenges as the bill in the Senate.
Legal Bookie Industry
Despite the challenges, industry news analysts are confident that sports betting will be legal in Minnesota. SF 1894 or the Sports Betting Bill in the Senate have the support from both Democratic and Republican senators.
Some people argue that even if sports betting is illegal in the state, there are many people gambling through offshore online or offshore bookies. Senator Roger Chamberlain said legalizing the activity can make it safer for players.
However, casinos see it as a low-profit business. As a result, they are not too eager to support the legal bookie industry in the state. In fact, most of what players wager is returned as winnings. The portion subject to state tax is relatively small.
The Senate bill will tax wagers minus the winnings at 6.75 percent. Chamberlain said that they are not in it for money. In addition, he said that race tracks and casinos can use the activity to attract more people to their locations. The bill states that if tribes want to offer sports wagering, they need to get a new compact with the state as required by federal law.
There’s no clear timetable when the state will legalize sports betting. You still have time to learn how to start a bookie business in Minnesota.
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