The Minnesota bookie market is another step closer to launching. Assuming that the bill legalizing the industry will not face any rejection down the line, that is. House File 778 was recently passed by the Tax Committee, with a 13-5 vote. In addition, HF 778 also gains approval from the House Judiciary, Finance, and Civil Law Committee, and the Commerce, Finance, and Public Policy Committee, and the State Government Finance Committee. The bill will now go to the Ways and Means Committee for approval.
According to the bill sponsor, Rep. Zack Stephenson, there is a sports betting market available in the state. The bill aims to create a legal marketplace to provide consumer protection, limit money laundering, and more. Of course, the state also stands to collect 10% of the tax revenue from online sports betting. The bill will allow online bookie software, as well as brick and mortar sports betting.
Minnesota Bookie Market
Owning a sportsbook is a highly lucrative business, so learning about bookie player profiling and understanding the betting market is very important for those investing in the industry. Experts believe that the Minnesota sports betting market could generate billions in sports betting handle.
Many Bookie PPH providers are seeing an increase in registration from bookies all over the country, as the demand for sports betting increases each year. Many states are already benefiting from sports betting, while states like Minnesota are still in the process of determining if they want to legalize sports betting in the state. The bill, assuming it passes the Ways and Means Committee, will then head to the House floor, followed by the Senate, for approval.