Jackson, MS – Jan 27, 2024: Mississippi’s online sports betting scene is buzzing with activity, with two major bills – HB 271 by Rep. Cedric Burnett and HB 635 by Rep. Jay McKnight – vying to become the definitive legislation for launching online wagering across the state. Both bills target existing, licensed casino operators, potentially unlocking a $27.1 million annual tax windfall for Mississippi.
A State Poised for Progress
After witnessing the success of geo-fenced sportsbooks at casinos since 2018, industry experts believe Mississippi is prime for online sports and expansion in 2024. The Mississippi Mobile Online Sports Betting Task Force, formed last year, meticulously gathered data and recommendations, paving the way for these legislative proposals.
HB 271: A Comprehensive Blueprint
Rep. Burnett’s bill lays out a comprehensive framework, revising the Gaming Control Act and allowing casino operators to launch their own online sportsbooks or partner with established brands. Additionally, it addresses the use of daily fantasy sports, lifting the ban on competitions based on individual college athletes.
HB 635: Streamlined Efficiency
Rep. McKnight’s bill focuses on the core elements of online sports betting, aiming for a swift and efficient legalization process. It echoes HB 271’s provisions for existing operators and daily fantasy sports liberalization.
A Tax Structure Designed for Growth
Both bills propose a tiered tax structure on online sports betting revenue:
4% on income up to $50,000
6% on income between $50,000 and $134,000
8% on income exceeding $134,000
This aligns with the Task Force’s recommendations and the existing in-person sports betting tax rate.
Challenges and Concerns
While enthusiasm for online sports betting runs high, potential roadblocks remain. Smaller, independent casino operators worry that online expansion could disproportionately benefit larger players, threatening their market share. Addressing these concerns will be crucial to garnering broad support for either bill.
Political Headwinds and Hope for Bipartisanship
The recent presidential election has injected an element of uncertainty into the legislative landscape. Industry players remain cautious about potential political hurdles, especially considering the vocal opposition from some quarters. However, the potential economic benefits and the bipartisan nature of the issue offer grounds for optimism.
With two strong bills on the table and a significant revenue opportunity on the horizon, Mississippi’s online sports betting battle is heating up. As lawmakers navigate the challenges and opportunities ahead, one thing is clear: the Magnolia State is on the cusp of a major shift in its sports betting landscape.
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Mississippi Online Sports Betting Showdown: FAQs
Will Mississippi legalize online sports betting in 2024?
It’s possible, but not guaranteed. Two bills proposing online sports betting legalization, HB 271 and HB 635, are currently being debated. While industry experts believe Mississippi is prime for expansion, political headwinds and opposition from some casino operators could pose challenges.
What’s the difference between HB 271 and HB 635?
Both bills allow existing casino operators to launch online sportsbooks or partner with established brands. However, HB 271 is more comprehensive, addressing daily fantasy sports and outlining a detailed tax structure. HB 635 takes a streamlined approach, focusing solely on core legalization aspects.
How much tax revenue could Mississippi generate from online sports betting?
Estimates suggest up to $27.1 million annually. The proposed tiered tax structure, ranging from 4% to 8% on online betting revenue, would significantly contribute to state coffers.
Who opposes online sports betting in Mississippi?
Smaller, independent casino operators are concerned that online expansion could benefit larger players, leaving them disadvantaged. Some political actors may also hold reservations about gambling problem.
What’s the next step for online sports betting in Mississippi?
The two bills will be debated and refined through the legislative process. Addressing concerns from smaller operators and ensuring bipartisan support will be crucial for their passage. Keep an eye on news updates and legislative hearings for the latest developments.
Can I already bet on sports online in Mississippi?
Currently, legal sports betting in Mississippi is limited to geo-fenced online sportsbooks operating within casino grounds. Online expansion, if finalized, would make wagering accessible from anywhere within the state.
How can I stay informed about Mississippi’s online sports betting progress?
Follow local news outlets, industry publications, and online gaming communities for updates. You can also track the progress of HB 271 and HB 635 on the Mississippi Legislature’s website.
With two bills in the ring and a potential goldmine on the horizon, the Mississippi online sports betting showdown promises to be an exciting watch. Stay tuned for the next round!