Nebraska Sports Betting quietly inches towards the finish line
Nebraska Sports betting seems to be on the horizon, but only in person.
On 20th of April, the Einhaus Nebraska Legislation advanced LB 561 for the final examination after a second discussion round. The invoice is required 33 Votes when it comes to the final reading, likely on the agenda in the near future. The legislative period ends the 10th of June.
It was passed at the first reading of the law in March 37-5.
As part of a broader change in the state’s gambling landscape, the bill would make sports betting legal for retailers in Nebraska.
Sports betting in Nebraska was unknown
Voters in Nebraska agreed to expand casino-style games at the state’s six commercial horse racing tracks November 2020.
Sports betting in Nebraska was not a guarantee at the start of the session.
When the legislature started the session to regulate voter consent to “games of chance”, sports betting for retail was added to the casinos.
NE sports betting trip
On 1st March, the General Affairs Committee has created a comprehensive game package by merging LB 560 in LB 561.
The package includes a constitutional amendment to allow casino gaming on licensed racetracks, laws that regulate gambling, and tax practices.
Among the bills the State racing commission would merge with a new one Nebraska Gaming Commission to build State racing and games commission.
Currently only available in retail
NE sports betting is limited to certain areas in the casinos according to the bill.
Last week lawmakers voted for the college to continue betting. They approved a separate amendment to ban in-play prop betting on college athletes.
What Nebraska Sports Betting Could be Worth
The Nebraska Racetrack Gaming Act will tax casino revenue at 20%.
The statutory tax return estimates that six racetracks will become game operators, which roughly translates into that $ 37 million in gross income in Fiscal year 2021-22. That estimated number jumps to $ 245.3 million in the Fiscal year 2022-23.
This revenue would generate an estimate $ 7.4 million and $ 49.1 million in state taxes.
Sports betting is rushing into America’s heartland
Nearby Colorado, Iowa and Illinois Since the introduction of legal sports betting in recent years, revenues from handle and sports betting have increased.
Now Nebraska is just one of many states in Central America considering sports betting legislation 2021.
Nebraska Senator Justin Wayne was a proponent of sports betting to keep tax dollars in the state rather than cross the line.
Neighbors are pushing forward
This session, South Dakota Gov. Kristi noem signed a law legalizing sports betting in the City of Deadwood. Wyoming is likely to launch mobile sports betting this year after a surprising legislative effort.
Kansas Legislators have pushed this session hard, but efforts seemed to have stalled for an indefinite period of time March.
Missouri was once considered likely to pass laws in pre-COVID 2020. As in Kansas, however, heavy efforts seem to have stalled in the past few months.