Minnesota Taking Another Crack at Legal Sports Betting in 2024

Legal sports betting appears to be making a comeback on the legislative agenda as Minnesota begins its 2024 legislative session.

The concept of a legalized sports betting platform is a familiar one in the North Star State. Once again, familiar figures are working to push legislation across the finish line in 2024. However, the same challenges that hindered progress in 2023 are still present, as a previous sports betting bill failed to be enacted.

It is certain that sports betting will be a contentious topic during the upcoming Minnesota legislative session, which begins on Feb. 12. However, all parties involved do not appear to be in agreement on the issue at this time.

Minnesota Sports Betting Act 2.0

The most recent attempt to legalize sports betting in Minnesota, known as the “Minnesota Sports Betting Act 2.0,” is spearheaded by Sen. Jeremy Miller (R-Winona). The bill seeks to legalize both retail and mobile sports betting within the state.

11 licenses for the top sports betting apps will be awarded to the 11 tribal nations in Minnesota, and professional sports venues in the state will have the chance to open retail locations.

Revenue generated from sports betting would be subject to a 15% tax rate, with proceeds allocated towards funding educational programs, supporting youth sports initiatives, providing tax relief for local charities, and promoting the growth of horse racing in the state.

But…

Despite the optimism, there is an ongoing dispute between the state’s horse racing track, tribes, and pro sports teams regarding the control of the top sportsbooks in the state.

The state’s tribes argue for authority over the industry, professional sports teams assert their right to oversee operations, and horse racing tracks seek their own licensing opportunities for sports betting.

Before any sports betting bill can move forward in the state, the long-standing battle must be resolved.

Back to that optimism

Lawmakers in Minnesota are well aware of the potential advantages of betting sites and will be leading the charge for legislation in the state.

In a press release, Sen. Jeremy Miller stated that Minnesota is missing out on a $100 billion industry as 38 other states, along with Puerto Rico and Washington, D.C., have already legalized sports betting. The updated proposal combines elements from Sen. Miller’s original Minnesota Sports Betting Act and other sports betting bills introduced last session, as well as input from constituents and stakeholders. The objective of the proposal is to unite individuals in working towards a bipartisan solution to legalize sports betting in Minnesota, with Sen. Miller expressing confidence that it can be achieved this year.

Senator Matt Klein, the author of last year’s bill, stated: “During this brief session, passing this bill is a top priority for the caucus, the legislature, and the people of Minnesota.”

Senator Jasinski from Faribault, a Republican, admitted that “It is evident that this is already taking place in Minnesota. The books are already in circulation with no restrictions. I believe we need to remain competitive with the current situation.”

The chances

Legislators in Minnesota failed to legalize sports betting last year, but are now indicating that it will be a priority in the upcoming 2024 session. The financial advantages seen by neighboring states with legal sports betting are influencing lawmakers to reconsider their stance on the issue.

However, without consensus among all parties, progress may be difficult. Many are optimistic that rational voices will prevail and that significant action will be taken during this year’s Minnesota legislative session.

Stay tuned!