Skip to main content

Mississippi House Approves New Online Sports Betting Bill With Higher Tax Rate

  • The Mississippi House this week approved HB 4074, an online sports betting bill
  • The bill is similar to an earlier House-approved bill introduced by Rep. Casey Eure
  • HB 4074 includes the same regulatory framework, but increases the proposed sports betting tax rate and decreases rates for casinos 

Take two for Mississippi online sports betting.

The Mississippi House of Representatives approved Rep. Casey Eure’s HB 4074, a bill to legalize online sports betting, by a 100-11 vote on Feb. 25. The bill is nearly identical to Eure’s earlier approved HB 1581, except it includes an increase to the proposed sports betting tax rate and a tax rate decrease for Mississippi casinos.

The bill now heads to the Senate, which has not shown an appetite for online sports betting legalization over the last several years.

On Par With National Average

While most of the details in HB 4074 are nearly identical to Eure’s HB 1581, the legislation includes a higher proposed online sports betting rate of 22% on all sports betting gross gaming revenues.

His previous bill included a tiered tax rate for adjusted sports betting revenue as follows:

  • 8% of gross revenue that surpasses $134,000 per month
  • 4% of gross revenue not surpassing $50,000 per month
  • 6% of gross revenue that surpasses $50,000, but does not surpass $134,000 per month

Eure said the 22% tax rate will bring Mississippi more in line with the national average for sports betting tax rates.

Additionally, the legislation proposes a decrease of casinos taxes from 8% to 6% in the state. The decrease hopefully will assuage fears regarding online sports betting potentially cannibalizing revenues for land-based casinos.

The bill also still contains a provision for a one-time $600 million payment from the state’s Capital Expense Fund to fund Mississippi’s pension system.

If approved and signed into law, the bill sets an online sports betting launch date of no later than Dec. 8, 2026. It allows the state’s 26 commercial dockside and land-based casinos to partner with up to two online sports betting partners in the state.

Road Block Remains in Senate

Despite the approval, one large roadblock remains in the Mississippi Senate.

Previous efforts to legalize have largely been blocked by Sen. David Blount (D-29), chair of the Senate Committee on Gaming, a vocal opponent of legalized Mississippi online sports betting. Blount never called Eure’s 2025 bill to his committee, noting that no member of the committee asked to hear the legislation.

Fear of online sports betting cannibalization, and its effect on revenues for brick-and-mortar casinos in the state, led to stalled discussions.

Blount remains in office until 2028, so legalization odds are incredibly slim.

The post Mississippi House Approves New Online Sports Betting Bill With Higher Tax Rate appeared first on Sports Betting Dime.



from Sports Betting Dime https://ift.tt/KNU0ds1
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Printable CFP Playoff Bracket – Make Your Picks to Win National Championship

The 12-team College Football Playoff bracket is set following Selection Sunday on December 7 Indiana claims the No. 1 overall seed after a perfect 13-0 season and Big Ten title Below, find SBD’s printable CFP bracket, first-round schedule, matchups and viewing info The 2025 College Football Playoff bracket is locked and loaded, and the Selection Committee delivered some serious drama on Sunday. Indiana sits atop the CFP bracket as the No. 1 seed after an undefeated season, while Notre Dame got left out in one of the most controversial snubs in playoff history. Now that we know all the matchups, SBD is publishing our annual printable CFP bracket. Simply click the bracket image below to open and download a printable PDF version you can fill out as the playoff progresses. We’ve also included the full College Football Playoff first-round schedule for each game, along with the matchups and viewing info. Printable CFP Bracket 2025 Click the image to download a printable PDF ver...
Post a Comment
Read more

Genesis Scottish Open Picks, Predictions & Odds for 2025

The 2025 Genesis Scottish Open tees off Thursday, July 10th, from North Berwick, Scotland Scottie Scheffler is the +340 favorite over 2023 champ Rory McIlroy See my 2025 Genesis Scottish Open odds, picks, and best value bets, below The world’s best golfers head overseas for the Genesis Scottish Open, a tournament co-sanctioned by the PGA Tour and DP World Tour, and it features plenty of star power. It’s contested at the Renaissance Club in Scotland, and it’s the final tune-up before the last major of 2025 – the Open Championship. Since this has been an official PGA Tour event, Xander Schauffele, Rory McIlroy and Robert MacIntyre have won in dramatic fashion with one-stroke victories. Dating back to when this was just a DP World Tour (formerly European Tour) event, eleven of the past 14 champions have won by a single shot or emerged with the title in a playoff. Genesis Scottish Open Odds 2025 Golfer Odds Scottie Scheffler +340 Rory McIlroy +650 Xander Schauffe...
Post a Comment
Read more

The Players Championship Odds, Predictions, and Best Picks 2025

The Players Championship tees off Thursday, March 13th, 2025 Scottie Scheffler is the heavy +360 favorite to win this tournament for the third straight year See the 2025 Players Championship odds, picks, and best value bets below After Russell Henley won the Arnold Palmer Invitational at Bay Hill, the PGA Tour’s best head to Ponte Vedra Beach, Florida for the “fifth major” – the Players Championship. It’s the crown jewel on the schedule, and the field is stacked as it tackles the quirky and confounding TPC Sawgrass, with Scottie Scheffler searching for a record third straight title at this tournament. 48 of the top 50 golfers in the world will be teeing it up (not Bryson DeChambeau or Tyrrell Hatton). The Players Championship Odds 2025 Golfers Odds Scottie Scheffler +360 Rory McIlroy +800 Collin Morikawa +1600 Xander Schauffele +1600 Ludvig Aberg +2000 Justin Thomas +2000 Hideki Matsuyama +2800 Tommy Fleetwood +3000 Patrick Cantlay +3...
1 comment
Read more