A Minnesota sports betting bill passed a second committee in a week. The proposed legislation would allow sports wagering in the state. However, tribes will have a monopoly over it. The House Commerce, Finance, and Policy Committee approved HF 2000 on Tuesday. Then, the House Judiciary Finance and Civil Law Committee approved it on Thursday.
The sports betting bill will now go to the Public Safety Finance and Policy Committee. The bill allows online and retail sports wagering. Also, it has the support of professional sports teams and 11 tribes in the state. In addition, each tribe can have one retail sportsbook and an online betting platform. Thus, becoming a bookie is exclusive to tribes in Minnesota.
During the committee meeting last Thursday, DraftKings’ Government Affairs Manager David Prestwood testified in favor of HF 2000. However, some groups opposed the bill, including the Joint Religious Legislative Coalition and the Minnesota Alliance on Problem Gambling.
Minnesota Sports Betting Bill Passes Second Committee
Prestwood said that the bill would regulate the market in a time when more than 1.17 million residents of the state bet on sports using illegal offshore sites. Also, they are placing over $2.5 billion in illicit wagers yearly.
According to bookie pay per head reports, a bill pushed by Stephenson and approved by the House last year was revised in the Senate to expand the types of businesses eligible for gambling licenses to include two horse racetracks. This change, however, led to the idea of losing the backing of the Minnesota Indian Gaming Association, and the bill ultimately failed in the Senate.
This year’s plan calls for tribal governments to be granted direct licenses as sports betting operators. It allows them to enter partnerships with private companies like DraftKings and FanDuel to provide betting services to their members. In addition, according to a political news forum, the gaming age would be lowered to 21, the tax rate would be 10% of adjusted gross income, and funding would be allotted for responsible gambling and problem gambling prevention initiatives.
David Prestwood, the government affairs manager for DraftKings, spoke in favour of HF 2000 during the committee meeting last Thursday. The Joint Religious Legislative Coalition and the Minnesota Alliance on Problem Gambling were two organisations that opposed the legislation.