Minnesota has time to join the family of more than 38 states in the United States that have regulated or/and launched their sports gambling markets. With the Minnesota House Ways and Means Committee introducing sports betting to HF 2000 and HF 5274, the state might surprise everyone at the final stretch.
The bill has now been moved to the House floor, and as unlikely as a last-minute decision seems, it could still pass. HF 2000 would now want to see sports betting introduced to the state by introducing online sports betting platforms that are tethered to the state’s federally recognized tribes, of which there are 11.
Sports wagering revenue could be taxed at 20%, the bill specifies. Yet not everything is lost.
A Possible Sports Betting Passage in Minnesota in 2024?
The odds are about 60-40, according to Minnesota House Speaker Melissa Hortman who spoke exclusively with Axios, but anyone with knowledge of the matter would be hard-pressed to take Hortman at her word.
Just a few days ago, there seemed to be very strong opposition against sports betting in the House and a U-turn in lawmakers’ opinion would be unexpected, to say the least. If Minnesota cleared this last hurdle, it would essentially become the first state to have done so five months into the new year.
There are very few legislative sessions that have not expired just yet, meaning that 2024 may go as the first year on record since the overturning of PASPA when no official movement was made to legalize new gambling products. Debates are raging on in the remaining holdout states, with Alabama recently folding a piece of legislation of its own which didn’t get a final floor vote because of a lawmaker who had changed their mind.
