The United States Of Sports Betting
The measure would impose a 10% tax on gross gaming revenues derived from sports wagering at racetracks, with the money going to public safety, mental health programs, education and regulatory costs. Tribal casinos would provide the state with a share of revenue to at least cover regulatory costs subject to negotiations with the governor. While legalized sports betting is very exciting, there are still a lot of nuances in what is legal between each state.
Maine nearly passed a law that would have allowed in-person and mobile sports betting on pro and college sports (with the exception of in-state colleges), but the bill was vetoed by the state’s governor. The state’s legislature will likely look to get an identical or similar version passed in 2021. Before legal online sports betting even launched in the state on Sept. 9, multiple pro sports teams and venues had partnered, from the Arizona Cardinals and BetMGM to the Phoenix Suns and FanDuel.
Technically speaking, sports betting in Mississippi has been legal since the state included the provision in a 2017 daily fantasy sports bill. It was not until August 2018 that Mississippi sportsbooks launched in Tunica and Biloxi, as the state had to wait for the Supreme Court ruling on PASPA. The state created a process to allow in-person and online sports betting through existing casinos in late 2019. However, regulators are still getting their ducks in order, so there won’t be any online sportsbooks operating until at least May 2020. Is not a state, but the rollout of retail sports betting is having limited success.
With the lucrative tri-state market in play, legalized sports betting would be a significant boon for CT. The Commonwealth of Virginia legalized sports wagering in April 2020, with sports bettors placing their first bets in January 2021. Gov. Ralph Northam signed bill SB 384 into law on April 29, 2020, following several revisions in the Virginia State Legislature.
Licenses to offer sports betting in Illinois are a whopping $10 million. However, given that all casinos, all racetracks, and even some sports venues can apply, it seems likely that there will be plenty of takers, even at that price. At last count, there were a dozen online casinos active in the state. Operators are limited to one online skin for each market — casino, sports, and poker. In fact, the state’s casinos only receive 17% of the revenue that they generate from sports betting as profit.
Online betting is allowed, but wagering is not permitted on Virginia-based college sports or certain youth sports. The Washington Football Team obtained a sports betting license from the Virginia Lottery in 2021, marking the first time an NFL team had obtained a wagering-related license in any jurisdiction. New Hampshire Gov. Chris Sununu signed House Bill 480 into law in 2019, legalizing sports betting in New Hampshire. New Hampshire took a unique approach to legal sports betting, selecting DraftKings Sportsbook as the only sportsbook to take bets online after an intense bidding session.