Amended Minnesota Sports Betting Bill Increases Tax Rate

Amended Minnesota Sports Betting Bill Increases Tax Rate

Representative Zack Stephenson amended his Minnesota sports betting bill to include fantasy sports, legalize gambling machines, and double the proposed tax rates. The change to HF 2000 came as the House discussed the legalization of sports betting starting March 21.

Stephenson has pushed for legalized online sports betting across the state for the last three years. The A-2 amendment was approved by 8 to 4, and then the law was carried by 8 to 5. The sports betting law is currently making its way to the tax committee.

According to bookie pay per head experts, the North Star State has not been set a crossover date. Instead, the state has chosen to adjourn on May 20.

Amended Minnesota Sports Betting Bill

Amended Minnesota Sports Betting Bill Increases Tax RateAccording to gambling platform experts, the current session does not carry over laws, so if lawmakers do not legalize sports betting, they will have to wait until next year to continue working on new bills. On the other hand, legislators who have been battling for six years to legalize sports betting will not be upset by this.

Even though Stephenson’s measure passed the House in 2022, it never reached the Senate. A measure in the senate that would include the state’s horse tracks in any betting offerings has already gone through six committees, even though the subject of horse racing and whether they should be included has been a significant obstacle.

According to sportsbook pay per head reviews and news sites, the finance committee is prepared to hear a measure proposing a 20% tax rate. The fantasy sports industry is currently unregulated, but Stephenson’s new changes aim to change that.

Since the amendment is still under review, we will not provide any details now; nevertheless, the main modifications will center around pull-tabs and charity gambling. Currently, the state, game producers, and nonprofits are the top three recipients of taxes from charity gaming.

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