The Minnesota Indian Gaming Association opposed any gambling expansion that includes sports betting. Also, tribes urge cautions on Minnesota sportsbook proposal. Although tribal leaders are in discussion with state leaders, they can’t compromise on sports betting.
Also, the legalization of sports betting outside of tribal grounds has unforeseen consequences to existing gambling operations that support them. Thus, tribes are still waiting for other states’ outcomes before they agree on Minnesota’s sports betting.
According to the best bookie software, tribes believe that legal sports betting’s potential tax revenues are inaccurate. Sports wagering is taxed on net income instead of the handle. The net income is the amount left after removing the operating costs and prize payouts.
Minnesota Sportsbook Proposal
As per sportsbook pay per head solution reports, Nevada had a sports betting handle of $5.32 billion in 2019. Sportsbooks had net revenue of $329 million. Thus, operators paid $6 million in taxes. It was $94 million less than what American Gaming Association reported.
As lawmakers consider allowing sports betting in the state, they need to have access to accurate info. According to a political forum, critics of sports betting are missing the point. Whether it is $6 million or $90 million, that’s additional income for the state. They should look at the bigger picture and not just for the benefit of the tribal casinos. The extra income can help fund projects of the state government.
At present, Minnesota has a diverse, regulated gambling industry. However, casinos are limited to tribes. Lawmakers should consider the pros and cons of legal sports betting carefully. Thus, they can come up with the proper proposal that will serve all communities within the state. It should not serve the benefit of the tribes, which have a monopoly over casinos at present.