Sports betting regulation – Page 7

February 15, 2024

Minnesota governor vows to pass betting bill at start of 2024 session

Minnesota governor Tim Walz has confirmed he would approve the legalisation of sports betting if lawmakers can progress legislation during the 2024 session.

The legislative year began at the start of this week, and a first reading of Senate Bill 3803 has already taken place. The Minnesota Sports Betting Act 2.0, proposed by Representative Jeremy Miller, would allow Native American tribes, racetracks and teams to offer in-person wagering at their facilities.

According to the bill, which has been referred to the State and Local Government and Veterans Committee, a state commissioner would oversee betting in Minnesota. The commissioner would issue up to 11 sports betting operator licences, up to 11 platform provider licences and sports betting supplier licences.

Licence holders would also have the option to operate retail betting on the premises of horse racing tracks or professional sports stadiums in Minnesota, pursuant to a partnership agreement with the track operator or sports te..

February 14, 2024

Study finds New York generates over 37% of all US sports betting tax

A study has revealed that New York contributes more than 37% of the total tax revenue generated from sports betting in the United States.

The Quarterly Survey of State and Local Tax Revenue (QTAX), carried out by the United States Census Bureau, recently added sports betting to its list of tax sources.

QTAX for Q3 of 2023 found that sports betting accumulated national tax and gross receipts of just under $506m (£403.5m/€473m). This was up 20.5% from Q3 2022 but significantly lower than the $571.5m generated in Q2 2023.

New York dominated the tax generated via sports betting in the third quarter of 2023, with its $188.5m nearly five times higher than Indiana’s $38.6m in second. No state has a higher tax on gross gambling revenues than New York’s 51%.

Ohio and Illinois ranked third and fourth with $32.9m and $32.4m respectively, while Pennsylvania rounded out the top five with $28.8m.

New York breaking record after record

new york has consistently been breaking sports betting recor..

February 7, 2024

Episode 27: Representative Dina Titus on the Gaming Caucus and GRIT

The World Series of Politics welcomes its very first congresswoman, with Representative Dina Titus joining Brandt Iden and Brendan Bussmann.

As representative for Nevada’s 1st congressional district and co-chair of the Congressional Gaming Caucus, she is a crucial industry advocate at federal level.

Tackling the excise tax

Representative Titus is also leading the charge to repeal the 0.25% federal excise tax on sports betting handle.

Dina Titus serves as US Representative for Nevada’s 1st congressional district

The money is deposited into the General Fund, rather than being used to tackle illegal gambling. Why not cut the tax and allow legal businesses to better compete against offshore operators by offering a more attractive product, she asks.

Listen to the World Series of Politics on Apple Podcasts

GRIT is not the solution

However the representative is an opponent of the Gambling Addiction Recovery, Investment and Treatment Act (GRIT Act), which aims to reallocate that ta..

February 2, 2024

Georgia senate passes amended online sports betting bill

The Georgia senate has voted through a bill that would legalise online sports betting in the Peach State, but with an added requirement for a constitutional amendment approved by voters.

Senate Bill 386 was filed last week, seeking to regulate online sports wagering in Georgia. It has moved through the senate quickly and was approved yesterday by a vote of 35-15.

However, this was not before senators added the amendment, which requires the support of 38 senators for the bill to pass. The amendment allows proceeds of betting to be directed to other purposes including needs-based scholarships.

Following senate approval, the sports betting bill now progresses to the Georgia house of representatives for further discussion.

What is in the Georgia sports betting bill?

Key language in SB386 includes that the bill would cover online sports wagering. Players would need to be at least 21 to bet and physically located inside Georgia.

The Georgia Lottery Corporation would assume responsibili..

February 1, 2024

Mississippi House clears online sports betting bill

The Mississippi House of Representatives has passed a new bill that will propose legalising online sports wagering in the Magnolia State.

House Bill 774 would extend the current Mississippi sports betting market to also allow for online wagering. At present, players can only wager at retail facilities at land-based casinos, under laws passed in 2018.

Backed by eight state representatives as sponsors, HB774 entered into the House earlier this week. The bill was approved by a vote of 98-14 and will now move to the Senate.

Key language in the bill includes all 26 land-based casinos in Mississippi being permitted to launch online sports betting. Casinos will only be able to partner with one licensed platform to offer wagering; this would be in addition to any existing retail sportsbook.

The bill did not reference an application fee for licences. However, it did state the renewal fee for a manufacturer’s licence would be $1,000 and a seller’s or distributor’s licence $500.

Tiered tax ..

February 1, 2024

Mississippi House to consider another online sports betting bill

The Mississippi House of Representatives has passed a new bill that will propose legalising online sports wagering in the Magnolia State.

Backed by eight state representatives as sponsors, HB774 entered into the House earlier this week. The bill was approved by a vote of 98-14 and will now move to the Senate.

The bill did not reference an application fee for licences. However, it did state the renewal fee for a manufacturer’s licence would be $1,000 and a seller’s or distributor’s licence $500.

Tiered tax ..

January 31, 2024

IBIA reports 35% decrease in suspicious activity for 2023

The International Betting Integrity Association (IBIA) has reported a 35% year-on-year decrease in suspicious alerts related to sporting corruption in 2023.

The IBIA, which identifies potential sports corruption through detecting suspicious betting activity, received 184 alerts in 2023. This was a significant decrease on 2022’s revised number of 285.

The IBIA accounts for over $137bn (£108bn/€126bn) of global betting turnover per annum, making it the largest operator-run integrity monitoring body.

Football and tennis were the sports most affected, with 63 and 54 alerts respectively. While tennis alerts have decreased over the last five years, football alerts have now risen for the last three years.

Europe was the area with the most alerts in 2023, accounting for 61% of reports. The UK had the most alerts with 31, while the Czech Republic was second with 18. Brazil and Spain tied for third with 11.

The IBIA’s work saw 74 matches proven to be corrupt, with 21 sanctions handed out. O..

January 25, 2024

IBIA partnership with Norway signals end of monopoly

The International Betting Integrity Association (IBIA) and the Norwegian Industry Association for Online Gaming (NBO) have agreed a Memorandum of Understanding (MoU) to collaborate on regulation and betting integrity.

The organisations will work to establish a framework for cooperation to promote a safe and effective licensing and regulatory regime. Both the IBIA and Norway-facing NBO will work on specific betting integrity provisions.

The partnership comes with both the IBIA and NBO urging Norway to withdraw its gambling monopoly system. At present, Norsk Tipping has rights to online casino gaming and sports betting, while Norsk Rikstoto covers horse racing.

the european gaming and betting association has previously called on norway to end its monopoly system

However, Norway faces calls to drop this system and open up licensing to other approved operators. The European Gaming and Betting Association (EGBA) is among several other organisations backing such a move.

Norway remain..

January 24, 2024

CNIGA issues “warning” after California sports betting initiative scrapped

The California Nations Indian Gaming Association (CNIGA) has said the failure of another effort to legalise sports betting in California should “be a warning” against future attempts.

The two ballots aiming to legalise sports betting would have given tribes the exclusive rights to offer sports betting in California. However, they were scrapped on Monday after fierce opposition from tribes in the state given the proposals outlined.

Eagle1 Acquisitions Corp, the group of backers for a proposition to legalise sports betting in California, had made several amendments to its ballot initiative in December in an effort to gain further tribal support.

Tabled in October, the Sports Wagering Regulation and Tribal Gaming Protection Act, would allow for legal betting. If approved, the ballot would have amend Article IV, section 19 of the California constitution. This will grant tribes exclusive rights to offer retail and online betting.

However, these were rejected by the CNIGA. Following the ..

January 24, 2024

Road to ICE 2024: Affordability checks looming large amid criticism

On the road to ICE, iGB will prep you for the biggest show of 2024 with this new series covering the latest developments since 2023's show.

The Gambling Act review white paper was a huge landmark for the UK gambling industry. The white paper outlined how gambling should be regulated in the UK going forward. Key terms included consultations on stake limits, a mandatory statutory levy for operators and the introduction of an ombudsman.

However, affordability checks have continued to be one of the reviews’ most debated issues. While many in the industry agree with the white paper’s proposals, affordability checks were met with fierce opposition from operators and trade bodies.

The need for affordability checks

Many of the white paper’s proposals were made with the intention of protecting vulnerable groups. Gambling Commission research published in November revealed that one in 40 Britons is a problem gambler.

the long-awaited white paper was released in april 2023

Lucy Frazer, ..

January 15, 2024

UK affordability checks to be debated in February after successful petition

Affordability checks will be debated in the UK's parliament on 26 February, following a successful petition calling to stop their implementation.

The petition opposed the widespread introduction of financial checks outlined in the Gambling Act review white paper. Jockey Club chief executive Nevin Truesdale registered the petition in early November.

By the end of November, the petition had passed 100,000 signatures, the number required for parliament discussion. A debate has now been scheduled for 26 February after it was discussed in Westminster Hall last Tuesday.

Julie Harrington, chief executive of the British Horseracing Authority (BHA), responded: “The fact that our survey reached the required 100,000 signatures threshold in just 27 days is powerful testament to the strength of feeling shared by bettors over the proposed checks.

“While we support the need to protect individuals from the risk of gambling-related harm it remains the case that millions of people enjoy betting..

January 11, 2024

Sports Betting Alliance opposes California sports betting ballots

The Sports Betting Alliance (SBA), a group of leading US gambling operators, has declared its opposition to two sports betting ballots in California, saying it will not financially support either initiative.

Both ballots would give tribes exclusive rights to offer retail and online sports betting in California. They were filed with the state’s attorney-general in October 2023.

CALIFORNIA’S SPORTS BETTING BALLOTS WERE FILED WITH THE STATE’S ATTORNEY-GENERAL IN OCTOBER 2023

The two ballots name Reeve Collins, co-founder and CEO of Pala Interactive, as the contact for media inquiries. Pala Interactive was founded by the Pala Band of Mission Indians in 2013. It was acquired by Boyd Gaming in November 2022.

Authors of the ballots have been seeking financial support for signature gathering from sports betting operators. However, SBA members – BetMGM, DraftKings, FanDuel and Fanatics Sportsbooks – have said they will not provide funding.

SBA blasts proposed ballots

SBA spokesperson Nat..

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Tag: Sports betting regulation