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The Ways and Means Committee of the Minnesota House of Representatives recently approved a bill that would legalize sports betting in the state.<\/span><\/span><\/span> Representative Zack Stephenson is the sponsor of 2 legislative initiatives: HF 2000 which was integrated into HF 5274, which has already been sent to the House Floor for debate and vote.<\/span><\/span><\/span><\/p>\n <\/p>\n Legalizing sports betting<\/span><\/span><\/span><\/strong><\/span><\/p>\n <\/p>\n Rep. Zack Stephenson<\/span><\/span><\/span><\/span> (DFL-Coon Rapids) sponsors both bills and says legalizing sports betting is the best way to combat the burgeoning illicit black market that already exists in the state.<\/span><\/span><\/span><\/span><\/p>\n “It is unlawful to engage in sports betting in Minnesota today, and it happens every single day in extreme amounts. We will be transitioning people from the black market into a legitimate marketplace.”<\/span><\/span><\/span><\/span><\/p>\n By doing so, Stephenson said, the state would collect taxes on all sports wagers, which would both benefit the state’s bottom line and be used to run programs to treat problem gamblers.<\/span><\/span><\/span><\/span><\/p>\n <\/p>\n <\/p>\n HF 2000 would grant sports betting licenses to Minnesota’s 11 tribal nations and allow people 21 and older to bet on a variety of sporting events, including esports.<\/span><\/span><\/span> Gambling would be allowed at physical locations on tribal lands or through mobile apps licensed to tribal entities.<\/span><\/span><\/span> A 20% tax would be imposed on the net income of those made online through a website or mobile app, but those made on tribal lands would be exempt from this tax.<\/span><\/span><\/span><\/p>\n <\/p>\n HF 5274, on the other hand, would prohibit betting on horse racing and youth sports, but would allow it on certain types of fantasy contests.<\/span><\/span><\/span> This restriction is due to the fact that betting on horse races would endanger the economic viability of the two tracks with limitations on paying the prizes.<\/span><\/span><\/span> Part of the tax revenue raised would be used to fund $625,000 per year purse supplements at the tracks, with 72 per cent going to Canterbury Park and 28 per cent to Running Aces.<\/span><\/span><\/span><\/p>\n <\/p>\n It’s unclear whether the bill will receive the necessary support in the Senate to become law, but Minnesota House Speaker Melissa Hortman said the chances of passage are 60-40. That’s a dramatic change from a few days ago, when several lawmakers suggested the effort was all but dead.<\/span><\/span><\/span><\/p>\n <\/p>\n No state in the North American country has legalized sports betting in 2024, although Minnesota is one of the few remaining states with a chance.<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Although the bill is moving forward, there are doubts about whether it can be approved in the remaining time of the session, which ends on May 20.<\/p>\n","protected":false},"author":1,"featured_media":8807,"menu_order":233,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4626,4624,4625,4627],"class_list":["post-8806","america","type-america","status-publish","format-standard","has-post-thumbnail","tag-hf-2000-sports-betting-licenses","tag-minnesota-sports-betting","tag-rep-zack-stephenson-dfl-coon-rapids","tag-tribal","entry"],"yoast_head":"\n![\"\"](\"https:\/\/www.mundovideo.com.co\/assets\/international\/minnesota-resumes-legalization-of-sports-betting2.jpg\")
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