Legal sports betting in Minnesota, Delaware and Iowa? Is it the future of gambling? How do sports bettors get started? Read on to learn more. Despite the controversy surrounding legal sports betting, these states are the first to make it possible. In this article, we’ll take a look at the pros and cons of each state’s legalization process and how sports bettors can benefit from legalization. After all, these states aren’t the only ones interested in money.
Legalization of sports betting
While there is considerable debate about whether or not legal sports betting is a good idea, some states are already embracing it. While legal sports betting is a form of casual entertainment that can result in substantial losses or addiction, it is also beneficial to the United States. Since November 2018, Arkansas has legalized in-person sports betting and Arkansans have placed more than $96 million in wagers. Sports betting revenue in Arkansas goes to the state’s general fund and the state collects between 13 and 20% of the net amount that sportsbooks earn.
Legalization of sports betting can be a boon to NBA fans. Already, Turner Broadcasting allows NBA fans to watch games a la carte or pay a pro-rated price for each game. However, it could lead to financial hardship for many. Legalization of sports betting is a necessary step in protecting the freedoms of American citizens and bringing more money into the nation’s economy. For the time being, though, it is unlikely that legalized sports betting will make the NBA legal.
Legalization of sports betting in Minnesota
The Senate is considering a bill that would legalize sports betting in Minnesota. The bill is backed by Republican Senator Roger Chamberlain and Democrats Karin Housely and Julia Coleman. The bill passed the Senate Ways and Means Committee and will now move to the House. If passed, it would make gambling available at state racetracks and 18 tribal casinos. Legislators believe the bill will curb money laundering and illicit activity.
However, the bill was not passed before the end of the legislative session because of a major flaw: the inclusion of horse racing tracks in the bill. That amendment was opposed by the Minnesota Indian Gaming Association, and Governor Tim Walz had previously stated that he would not sign the bill without the backing of the Native American tribes. Still, the late push toward legalization gives hope for the bill to pass. The bill was co-authored by Rep. Patrick Garofalo, who acknowledged that there are differences between the two versions and that there is no easy solution.
Legalization of sports betting in Delaware
The state has always been proactive when it comes to sports betting, and it was no different when it passed a bill in 1976 that allowed lotto customers to place parlay-style wagers on three NFL games at a time. Winning bets were only paid if all three picks were right. After PASPA, sports betting became illegal across the country, but Delaware’s legislature opted to exempt its casinos from the ban. Today, the state’s three casinos offer sports betting, but residents are still waiting for a move to regulate online sports betting.
If neighboring states open sports betting, Delaware’s parlay money will evaporate. Meanwhile, sports bettors from out-of-state will no longer travel across state lines to place their wagers. Delaware could be a short drive from the nearest sports betting venue. With so much competition, Delaware will have to compete with other states that are already legalizing sports betting. However, sports gambling in Delaware is only one of many challenges the state will face in the future.
Legalization of sports betting in Iowa
With the passage of the state’s legislation for expanded sports betting, Iowa is poised to be one of the first states to offer legalized sports betting. This bill, signed into law by Gov. Kim Reynolds last week, will allow betting on drafts, league awards, and more. It will go into effect July 1, which means bettors in Iowa will miss the 2022 NBA Draft. The law also expands gambling on esports and e-sports events.
While betting online has gained widespread acceptance in recent years, some states have not yet authorized it. In Iowa, sports betting is only legal for physical casinos. But this does not mean that all sportsbooks will open in the state. In fact, only a handful of sites currently operate there. If the law is passed, a dozen more sportsbooks will open their doors. Some casinos will have multiple sportsbooks attached to their property.