- HB 778 passed in the Judiciary Finance and Civil Law Committee on a 9-6 vote.
- The bill now moves on to the Tax Committee.
SAINT PAUL, Minn. – Minnesota sports betting is now a little bit closer to being regulated after HF 778 passes in committee.
The Judiciary Finance and Civil Law Committee voted 9-6 to advance the bill that would regulate sports betting in Minnesota. There are a lot of steps still to go before a potential launch could occur, however.
Minnesota Bill Advances
HF 778 would grant the local Minnesota Tribes the ability to launch sportsbooks at their casinos while also allowing for statewide mobile betting with commercial operators.
The bill was discussed heavily, with the bill sponsor Rep. Zack Stephenson speaking candidly about the black market of betting and how Minnesota is missing out on millions in revenue.
“The bill legalizes sports betting in Minnesota,” said Stephenson during the hearing. “Let’s be clear from the outset that sports betting is already happening in Minnesota. We have a robust black market here with estimates of over $2 billion in black market activity.”
Despite the major pushback that came from several opponents during the hearing, the split vote kept the bill alive for the time being.
What’s Next For HF 778
HF 788 now advances to the Tax Committee where they will discuss the potential revenue associated with the sports betting market.
Rep. Stephenson spoke about taxing mobile betting at or lower than the tax rates consistent across the country.
Looking at neighboring states, the Minnesota sports betting market would likely see a tax rate between 8%-24%. Minnesota’s neighbor in Wisconsin taxes 24% on wagers and this is on the higher end of the nationwide market.
There has been no set date for when the committee will meet to discuss the legal sports betting bill in Minnesota.
For now, locals should feel optimistic that the bill is picking up steam.
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Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.