Lawmakers introduced a bipartisan Minnesota sports betting bill that would allow sportsbooks at casinos and racetracks. Also, the proposed legislation would enable online wagering in the state.
Jeremy Miller and Karla Bingham introduced Senate Bill 410. It allows the issuance of bookie licenses valid for a year. However, the bill didn’t specify the costs of the application, license, and renewal fees.
Licensed sports betting operators may sign contracts with owners of racetracks or casinos to accept bets on their behalf. Also, operators would be responsible for the actions of racetracks or casinos’ employees that violated rules.
Minnesota Sports Betting Bill
According to basketball betting sources, Senate Bill 410 allows players to wager on sports in person at a licensed racetrack or a tribal casino. After a year after the first sportsbook license approval, the bill would allow online sports betting via a mobile app or website. However, the player needs to be within Minnesota’s borders.
As per pay per head service reports, casinos and racetracks need to apply for an affiliate license before they can accept bets on behalf of a licensed sportsbook operator. Affiliate licenses will also have an application, license, and renewal costs. However, there’s no specific amount yet for the fees.
According to gambling news reports, the bill proposed taxes on the sports betting net revenue. The state would collect a six percent tax on bets made at a racetrack or casino. Online wagers would have a higher tax rate of eight percent.
SB 410 allows wagers on the winning outcome of sports games and bets for an individual or team to win by a specified number of points. Also, the bill enables Over/Under and parlay wagers. Approval of the bill would lead to creating a Sports Wagering Commission to supervise betting on sports in the state.