Legalizing Sports Betting in the U.S., 2nd Legitimate Legislation to Make it Legal in Las Vegas
Sports betting is legal in most states, including Missouri, but it is wise to check the laws in your area before placing a sports bet. Live, legal refers to states where betting on sports is legally available to consumers through authorized online and retail sportsbooks. Legal states classified as Legal: Not Yet Operated include those which have not yet approved online or retail gambling but will probably soon.
As with many legislative proposals in St. Louis, the proposed legislation has divided the legislature into three groups of tea party Republicans and Democrats. The tea party Republicans want more oversight of the commission created by the state legislature. They are particularly opposed to the way the board is staffed and the number of members it has. One of their main objections is that there has not been any independent study conducted on the impacts of legalized sports betting.
The two chambers of the state legislature, both Democratic, have passed separate legislation concerning the regulation and operation of the state lottery. The Senate voted, along with the House, to create the Lottery Commission, which will oversee the lottery. The governor has promised to create a similar governing body for the state lottery. The legislature is currently considering the measures to eliminate or reduce fees for lottery winners. The proposal for this would be to allow any amount of money to be withdrawn by winners to use however they want.
This is currently being considered as one of the more hotly debated ballot measures. Proponents argue that it will help reduce fraud and that there will be adequate safeguards against gaming fraud. Opponents claim that the lottery has strong support within the city and county and that the additional revenue will be utilized for needed city services. The Board of Appellate Judges is expected to complete their report on July 12th with a report on whether or not the proposed legislation should be placed on the statewide ballot. If it is, then the legislature will vote and if it is rejected, then the matter will again go before the voters.
A bill introduced in the House would require licensed sports book operators to provide public access to pay-ports. Rep. Bradbury has proposed that the revenues generated from the licenses be used to expand scholarship opportunities for low-income children in high schools. He also hopes to introduce a bill in the next legislative session that would require the Division I Athletic Association to create an annual licensing fee for colleges that participate in the NCAA.
Another bill introduced in the House would require all professional and amateur sports betting providers to submit detailed reports to the Department of Financial Services each year. These reports would detail all wins and losses that occurred during the prior calendar year. In addition, the fee would also cover any penalties or assessments that were assessed against a sports betting provider for late payment of bets or non-payment of winnings. The House has already voted to table this bill. The governor has signed onto the proposal.
The final bill that has been tabled would be the Sports Betting Commission of Nevada Act. This bill has already been signed into law by the governor. Like the 2021 proposal, the bill would require all licensed sports betting providers to submit detailed reports to the department each year. This report would also require the Division I Athletic Association to create an annual licensing fee for colleges that participate in the NCAA. However, the state of Nevada has yet to approve this bill.
If the two previous pieces of legislation pass, then sports books can legally allow individuals to bet on sports without having to register with the state. However, the legalization of single-game sports betting would still not benefit the entire industry. As mentioned above, not all states will regulate betting equally. As more legalized sports books open up throughout the United States, there will only be one regulation standing. Therefore, sportsbooks must invest capital in facilities that maximize their profits and minimize their losses. However, even if the U.S. does legalize single-game sports betting in the near future, the lack of political support should not deter professional sports betting institutions from expanding their business in Nevada and other legalized sports betting states.