Taking a Gander at the Latest in Kansas Betting Legislation 🚀
Legislation Proposed in Kansas Allows for Statewide Mobile Betting and Installation of Gaming Machines
Delve into the latest happenings in Kansas as a bill proposing statewide mobile wagering controlled by the lottery is under consideration. Known as HB 2740, this bill is set for a hearing on Tuesday, March 8, in the House Federal and State Affairs Committee.
Say goodbye to those shady back-alley wagers, folks! HB 2740 seems to allow for the establishment of 12 digital platforms, all linked to the state's four existing commercial casinos. This means that, in theory, wagering on professional and college sports could soon become a reality, although amateur sports, such as the Olympics, are not explicitly mentioned in the bill.
What's more, this bill has a deadline to complete the regulatory process set for January 1, 2023, so, assuming it passes, wagering platforms might start popping up shortly thereafter.
As for tax rates, the bill proposes a 20% tax for digital wagering and 14% for retail betting. While this might seem steep, remember that other states, like Tennessee, also impose a 20% tax on operators, and both Illinois and Virginia have developed thriving markets with 15% tax rates.
What's In It for Kansas?
So, what does all this mean for Kansas? Well, professional sports teams could potentially have kiosks at their facilities, allowing fans to wager via digital device. There would also be a white-collar crime fund, with the first $750,000 of tax revenue annually earmarked for this purpose.
Moreover, federally recognized tribes would have the opportunity to compact with the state to offer retail wagering, but not digital betting. Additionally, $100,000 of tax revenue would be set aside for problem and responsible gambling initiatives.
Other house bills under consideration by the committee include HB 2444, which would allow statewide mobile betting tied to professional sports teams/venues, and SB 84, which, last session, passed the Senate but failed to make it through the House.
Intriguing, right? Grab a cold brew and stay tuned for more updates on this energizing adventure into Kansas's betting scene! 🍻🎲📈
Wagering on professional and college sports could soon become a reality in Kansas, as the bill HB 2740 allows for the establishment of 12 digital platforms linked to the state's four existing commercial casinos. The tax rates proposed in the bill are a 20% tax for digital wagering and 14% for retail betting.
