An online sports betting bill has moved to Mississippi’s House Gaming Committee for consideration, according to a local news report in the Magnolia Tribune.
Legislators have been working on this bill for the past four years, according to the local report. As of now, Mississippi holds the top spot when it comes to US illegal online betting activity.
The current law on the books states that sports bets placed outside of casino walls are illegal. This applies to in-person bets on sporting events and to wagers placed online. Should HB 774 become state law, bets like these would be placed under the umbrella of existing casinos, the local report said.
Under the terms of the bill, local governments could lay claim to another 4% of tax winnings, and the state would collect 8% in taxes. According to Gaming Committee Chair State Representative Casey Eure, “Those figures are over and above existing gambling tax structures.”
HB 774 would also allow for each casino to partner with only one platform. However, casinos will be at liberty to choose which platform they want.
Eure told local news that Mississippi casinos have the additional option of developing an in-house platform to use instead of partnering with another company.
Should HB 774 pass and be signed into law by the Governor, the state could rake in between $25m and $35m in gambling taxes, Eure told local news.
The Coastal Mississippi Representative went on to add that “estimate could a bit conservative,” and said that “he would not be surprised to see as much as $50m.”
