Mississippi Inches Closer to Passing Sports Betting Legislation

By all indications, another U.S. state might be on the verge of passing mobile sports betting legislation. By an overwhelming majority, the Mississippi House of Representatives passed HB 774 mobile sports betting legislation by a vote of 97-14. This is a major turn of events given how difficult it has been for states in the Southern Bible Belt to get anything done in terms of online gambling and sports betting specifically.

In a unique twist, the Georgia Senate was also passing sports betting legislation at the same time the Mississippi House was turning over HB 774 to its own Senate body for consideration. It's noteworthy that retail sports betting was legalized in Mississippi in 2018. If this legislation gets past the Senate, it seems a certainty that Governor Tate Reeves will make it law with his signature.

HB 774 was the brainchild of State Rep. Casey Eure. He took up the challenge last year with the understanding that bringing legal sports betting to the state would bring in millions of dollars in much-needed tax revenue. His pride in his actions was evident in the words he presented in this press release:

"All I’m trying to do is give another product to our casino industry in our state to be competitive, and I feel like that’s what we’re doing. So as you look at surrounding states and what happened today in Georgia, just keep that in mind that we keep Mississippi moving forward."

What's in the Bill?

As is the case in every state, the devil is always in the details. For mobile sports betting legislation to get passed, it has to check key boxes that make sense and bring benefits to both residents and the state government. HB 774 would seem to do just that. Here are some of the provisions listed in the bill:

• The bill will offer licenses to all 26 of the state's retail casinos with each property getting access to one (1) sports betting partner
  
• The applicable tax rate on gross betting revenue will be 12% (amended from an original amount of 4%)
  
• Mobile sports bettors must be 21 years of age or older and must be in the state when registering and placing wagers
  
• The Mississippi Gaming Commission will be appointed to regulate the state's mobile sports betting activities
  
• Bettors will be permitted to make deposits and withdrawals remotely
  
• Online Daily Fantasy Sports (DFS) will be legalized as part of this bill
  
• 12% of all tax revenue will be allocated to the state's Emergency Road and Bridge Repair Fund
  

Based on this criterion, REp. Eure has stated that he believes legalized mobile sports betting will bring between $25 million and $35 million in revenue annually, perhaps going as high as $50 million as the market matures.

With the Mississippi Senate in session until May 5, 2024, hopes are high that they will take up HB 774 sooner rather than later. The goal is to have mobile sports betting in place by the start of the NFL season in September.