Mississippi Attempts to Legalize Sports Betting for a Third Time
Mobile sports betting legislation in Mississippi has once again been introduced to the House for the third year in a row, with new provisions introduced in the hopes of persuading Senate lawmakers.
The most significant change to the legislation was that all revenue from mobile sports betting would go toward the government’s pension system, which has suffered a shortfall of around $26 million.
Millions of dollars in tax revenue are estimated to be lost each year from black-market betting in the state, prompting lawmakers to push the legislation.
Chair of the House Gaming Committee, Casey Eure, has been an advocate for legalizing online sports betting for the past 3 years and has estimated that around $80 million in tax revenue could be generated in the state each year.
However, Senate Gaming Chairman David Blount, who has strongly opposed legalization, has estimated revenue would peak at around $30 million per annum.
Additionally, Sen. Blount has argued that the amount of money could be significantly reduced due to the operations of prediction markets in Mississippi, which are not regulated by the state and do not pay state taxes.
- Mobile sports betting legislation will once again be introduced to the Mississippi House for the third year in a row.
- Changes to the previous year’s legislation include directing all revenue generated to the state government pension fund.
- Advocate for the legalization, Casy Eure argues that an extra $80 million in tax revenue could be generated, however, others argue this number is closer to $30 million.
