Mississippi Sports Betting Bill Advances to Senate after House Vote
The Mississippi House has passed HB 1581 to legalize online sports betting for the third year in a row. Passed with an 85-31 vote on Wednesday, proponents of the bill say it could generate tens of millions of dollars in new tax revenue for the state.
An amendment was also added to this year’s proposal, requiring the state to make a one-time transfer of $600 million from the Capital Expense Fund to the Public Employees Retirement System, as it currently has a $26 billion shortfall.
While critics have raised concerns about the effects on brick-and-mortar casinos, the bill also includes a $6 million fund, generated from online sports betting taxes, replenished through 2030, from which casinos could draw if their revenues are affected.
It is estimated that the state loses between $40 million and $80 million in taxes each year as residents turn to black-market betting or travel to other states.
Sports betting operators would be required to partner with one of the state’s brick-and-mortar casinos, with each casino being allowed to have up to two partners.
The bill will next face the Senate, where similar bills have died in previous years due to concerns about gambling addiction and opposition from the state’s casino industry.
- A bill to legalize online sports betting has passed in the Mississippi House
- New amendments to the bill include a $600 million transfer to the Public Employees Retirement System, which currently has a $26 billion shortfall
- The bill will now face the Senate, where similar bills have died in the past from opposition
