The effort to legalize online sports betting in Mississippi gains speed.
The Mississippi Mobile Sports Wagering Act was successfully pushed forward by a House committee, marking a significant development in the potential legalization of online sports betting in the state. The goal of the bill is to meet the increasing demand for mobile sports wagering and combat the dominance of the black market in the industry.
Lawmakers Seek to Safeguard Current Enterprises
Although brick-and-mortar sportsbooks have been permitted in Mississippi for a while, there has been a noticeable lack of online betting. This is largely because of concerns that it may affect the profits of the state’s physical casinos. However, as illegal offshore sports betting sites become more prevalent, lawmakers are realizing the importance of regulating and taking advantage of this profitable market.
The Mississippi Mobile Sports Wagering Act, supported by GOP Rep. Casey Eure of Saucier, requires online gambling firms to make agreements with physical businesses. This is expected to generate significant tax income for the state, potentially exceeding $25 million each year. Additionally, it aims to ensure that traditional stores stay competitive.
Although there are measures in place to safeguard current businesses, some opponents are worried about the protection of smaller casinos in rural regions. These establishments do not have the same protections as outlined in the proposed bill. There is concern that the convenience of online gambling may discourage bettors from visiting, which could have a negative impact on these casinos and the local businesses around them.
A lawful alternative for betting could help reduce illegal gambling.
Representative Eure argues that allowing mobile sports betting would greatly reduce the presence of an illegal market, preventing it from draining funds from the state. Among all US states, Mississippi currently has the highest number of online searches for illegal sports betting. Eure stressed that Mississippi loses about $3 billion annually in illegal bets, which could instead be taxed and utilized for important expenditures.
By legalizing mobile sports betting, the potential for illegal activity in the market significantly decreases. In the United States alone, it is estimated that illegal betting sites receive approximately $64 billion in wagers annually. Mississippi accounts for 5% of this market.
Rep. Casey Eure
GeoComply Solutions Inc., a geolocation data company, revealed millions of instances where mobile devices in Mississippi accessed legal sports betting sites in neighboring states. Tennessee and Louisiana, adjacent to Mississippi, have legalized online sports betting since 2020 and 2022, respectively, and have achieved significant success. Rising interest among the populace means that regulated online wagering in Mississippi is a matter of time, prompting legislators to try and capitalize on the trend as quickly as possible.
The legislation has completed the committee process and is currently awaiting review by the entire House. If it passes and becomes law, Mississippi will join other states in utilizing online sports betting to increase income and offer citizens a secure, lasting option to illegal operators. Nevertheless, legislators must have the determination to move forward with changes and guarantee that bettors are given adequate safeguards.
