Bilateral Discussion in Mississippi Regarding Legislation for Mobile Sports Wagering
Hey there! Mississippi sports betting enthusiasts, you're in luck! There's a proposed bill, Senate Bill 2667, that could revolutionize the state's online sports betting scene. This bad boy is sponsored by Sen. Willie Simmons and, if passed, would allow for statewide online/mobile wagering and remote account registration.
As of now, it's sitting pretty in the Senate Finance Committee, waiting for its chance to shine. The bill aims to amend existing gambling laws, clarifying the definition of platform providers. If enacted, these providers could accept or reject wagers, determine results, and pay out winnings all from the comfort of your own home.
This legislation also introduces licensing provisions for the entities involved in the platforms, and taxes sports betting revenue from these platforms at 6%. In contrast, other casino gaming has a hefty 11% effective tax rate. The bill is set to go into effect on July 1, 2019, making it in time for the 2019 college football and NFL seasons!
Ever since Mississippi opened its brick-and-mortar casino sportsbooks in August 2018, the state's sports betting market has been growing. But with current regulations limiting mobile betting to casino premises, the market's potential has yet to be fully tapped. A more mature market could see annual wagers worth billions, with mobile having a significant share, as seen in states like New Jersey (where online sports betting handle approaches 80% of the total handle).
In essence, allowing mobile betting wouldn't just boost the industry—it'd help make illegal gambling a thing of the past. In fact, it's been widely suggested that moving to online platforms would help suppress the black market. Changing the law to allow mobile betting has been on the agenda since the start of sports betting in the state.
Mississippi and Louisiana are cheering each other on in their sports betting endeavors. At a hearing in Baton Rouge, the Executive Director of the Mississippi Gaming Commission, Allen Godfrey, expressed his support for mobile betting, stating that it's "tremendous" in states like New Jersey. Louisiana lawmakers are taking notes and could consider legalization again this year, with the potential adoption of mobile betting.
Stay tuned for updates on Senate Bill 2667 and the future of mobile sports betting in Mississippi! Don't forget to keep an eye on your local legislative sources for the latest news. Let's make sports betting convenient, profitable, and legal, Mississippi! 🤘🏿💻💰🏈🏀🏉
- If Senate Bill 2667 is passed, Mississippi residents can place wagers on sports-betting platforms from the comfort of their homes, with platform providers determining results and payouts.
- The proposed legislation aims to revolutionize Mississippi's online sports betting scene, allowing for statewide online/mobile wagering and remote account registration.
- With the potential adoption of mobile betting, Mississippi could tap into the market's full potential, following the success seen in states like New Jersey where mobile betting handles approach 80% of the total handle.
