Mississippi online sports betting: Task force meets on legalization
The Mississippi Mobile Sports Betting Task Force convened this month to deliberate on the prospect of introducing legislation for mobile betting. Task force members engaged in extensive discussions concerning the potential landscape of an online sports betting market within the state of Mississippi. Notably, Mississippi has previously faced challenges in passing sports betting legislation and is now actively seeking to reverse this trend during an upcoming legislative session.
During the discussion, House Representative Casey Eure revealed his ambitions to submit a law on online sports betting during the 2024 legislative session, which is a significant development for gambling enthusiasts. While House Bill No. 606 did not succeed in legalizing internet sports betting, Eure had previously supported it during the 2023 session, and it did set the way for the creation of the task group on mobile sports betting.
The task force is a significant development in Mississippi’s journey towards legalizing online sports betting. Comprising lawmakers, appointees, and gaming officials, their objective is to shape the future of sports betting in the state. This involves addressing critical issues like tax rates, revenue allocation, advertising regulations, and more. As they evaluate the potential implications of introducing online sportsbooks to Mississippi, more meetings are expected.
Despite not yet legalizing online betting, Mississippi’s retail sports betting industry has seen substantial growth. A recent report shows a 19.7% year-over-year increase in betting activity, with sportsbooks generating monthly wagers of over $51.6 million and taxable revenue exceeding $8.1 million. However, Mississippi remains untapped in terms of revenue potential, especially when compared to neighboring Louisiana, which earned $31.3 million in revenue from retail betting and an impressive $248.8 million from mobile sportsbooks. Mobile sports betting alone contributed $36.1 million in taxable revenue for Louisiana.
Mississippi aims to achieve a financial windfall similar to Louisiana’s, given that the latter only permits sports betting in 55 of its 64 parishes, leaving the rest without access. With the year 2024 approaching, Mississippi is gearing up for a potential turning point in online sports wagering legislation. The discussions and the formation of the task force mark a determined effort to unlock a new source of revenue and enhance the state’s sports betting industry. The upcoming legislative session in 2024 presents a crucial opportunity for Mississippi to join the growing list of states with legal online sports betting.
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