- Legal States
Velimir Velichkov February 2, 2023 3 min read
Minnesota Senator Backs Sports Betting Legalization
Efforts to legalize sports betting in Minnesota continue, a recently released report reveals
Legalized sports betting provides a legal form of entertainment for sports fans interested in placing wagers on their favorite team and bettors alike. While more than half of the US states have already legalized and launched some form of sports betting, such efforts are still underway in Minnesota.
Sports betting can provide a fresh tax revenue stream and bring a legal option for bettors in the state. This is precisely why Minnesota State Senator Jeremy Miller is supporting the legalization efforts. A report released by CBSNews confirmed Tuesday that the Senator plans to introduce the state’s Sports Betting Act, a regulatory framework for the activity.
Despite the failure of previous legislation, the proposal marks a new effort to legalize sports betting and reap the benefits from the activity. Previously, opponents of legal sports betting raised concerns about an increase in problem gambling and addictions.
However, under the new proposal, 25% of the revenue collected from sports betting would be allocated toward treatment and support for problem gambling. On the other hand, the lion’s share of revenue collected from the activity would benefit sports events, serve as tax relief for charities and provide vital support for youth sports in Minnesota.
It’s Time for Minnesota to Legalize Sports Betting
Senator Miller pointed out that the time for Minnesota to legalize sports betting has come. Moreover, he flagged that nearby states currently offer the activity which leaves the state behind. In fact, Miller stressed that Minnesota is the only state within the region that doesn’t offer legal sports betting.
“This proposal is good for the tribes, it’s good for the horse racing tracks, it’s good for the professional sports teams, and most importantly, it’s good for the folks who would like to bet on sports here in Minnesota. This is long overdue and it’s time to get it done!“Minnesota State Senator Jeremy Miller
According to him, the new regulatory framework will benefit not only the state’s tribes but also professional sports teams and horse racing tracks. Most importantly, Miller added, the legalization of the activity will provide a legal way for fans to wager in Minnesota.
Data from the American Gaming Association, as of January 31, 2023, reveals that 33 US states and DC offer some form of sports betting. On the other hand, three states have already legalized the activity but are yet to launch it, while eight states are currently making efforts to legalize the activity.
William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting.
Legal February 2, 2023
Legal February 2, 2023