Nothing like optimism to kill a good idea. Or something like that.
Minnesota Governor Tim Walz, a Democrat, believes this could be the year Minnesota goes legal with sports betting and the revenue pours in. “It seems, to me, like this is probably the year to talk about that in a non-budget year.”
Republican Senator Jeremy Miller returns for year two as the first legislator on the board, filing the Minnesota Sports Betting Act 2.0 in January.
“Minnesotans are already betting on sports. They’re just doing it in other states or they’re doing it illegally, so now is the time to get it done so we can regulate the market as well as help generate some tax revenue,” Miller told KVLY-TV in Fargo.
Miller’s bill has a 15 percent tax, thus expects around $60 million in new revenue.
Democratic State Senator Matt Klein, whose bill ran out of time last year, says his bill could add $40 million a year into the state treasury. “We currently have a 10 percent tax rate in the bill I’m offering,” he said.
“The numbers show that in states that have legalized and states that haven’t legalized, participation rates in sports wagering are the same,” Klein told KVLY-TV. “So, people are doing it anyway and we might as well make it safe, make it structured and make it legal.”
Are we still optimistic? Of course. We haven’t gotten to the stakeholders yet.
“It’s really important that we keep tribal exclusivity over the sports wagering licenses,” Klein said.
Only one stakeholder is happy with that word, the stakeholder with the exclusivity.
Miller would add racetracks to the licensing mix along with the tribes.
“My preference would be to give the tribes a license, as well as the tracks, the (professional) teams and even the charities,” he told KVLY-TV. “The reality is, the votes aren’t there in the legislature right now to make that happen, so instead of focusing or complaining on what’s not possible, with the 2.0 proposal I really wanted to focus on what is possible.”
Good assessment, Senator, especially with the decks stacked in favor of the Democrats.
“I’m very optimistic,” Sen. Klein said. “Minnesotans want this, Republicans want this, Democrats want this. Senator Miller’s bill was a serious effort at finding a solution this year, and we’re hearing that from all interested parties—the tracks, the tribes—people want to get this done and they want to get it done this session.”
Andy Platto, Executive Director of the Minnesota Indian Gaming Association, released a statement on behalf of the tribes.
“The Minnesota Indian Gaming Association (MIGA) supports state efforts to authorize sports wagering both at tribal gaming properties and through online/mobile platforms. Tribes are best positioned to provide this new offering to the state’s consumers. MIGA and its members will be closely following the progress of state legislation and look forward to working with other stakeholders to develop an approach that benefits Minnesotans while protecting the Indian gaming operations that tribal and rural communities rely on for jobs and economic health.”
There seems to be some room to squeeze in a little optimism.
