While Massachusetts has made some progress in pursuing sports betting legalization, the bill was vetoed by the governor. Currently, there are no timetables for legalization in New Hampshire, Maine, Nevada, or Tennessee. The debate will continue as more states move towards legalization. Ultimately, sports betting will likely be legalized in a state that is conducive to gambling. But where does that leave New Hampshire? And who will be the first to legalize sports betting?
Legalization of sports betting
With more states likely to legalize sports betting in the next few years, it is likely that more states will follow suit. The earlier adopting states can serve as a model for the rest. For example, the generalized model is to allow mobile betting in a competitive market, though DC, NH, RI, and Oregon have excluded state run monopolies. These are only some of the states that are expected to legalize sports betting in the coming years.
The United States Congress and various state legislatures are considering legislation to legalize sports betting UFABET in the U.S., including a repeal of the controversial PASPA act. Sens. Chuck Schumer and Orrin Hatch have introduced comprehensive sports betting legislation, and the House Judiciary Committee held a formal hearing on the issue in September 2018. A dual-track approach has been increasingly popular in the past year. As states pass sports betting legislation, many remain divided about the legalization process.
Legalization of sports betting in Colorado
In November, the state of Colorado passed legislation legalizing sports betting. In addition to allowing online and offline betting, the state will also collect a flat 4.63% tax on all income, on top of the 24% federal tax. Colorado casinos will collect this tax when they accept bets, and many sportsbooks will accept various forms of payment, including electronic wallets. After the legalization of sports betting in Colorado, sportsbooks in the state will need to hire additional staff to support new customers and ensure the integrity of the industry.
The referendum, known as Yes on DD, is a popular way to legalize sports betting in Colorado. The initiative was first introduced by Rep. Garnett, a Republican. It was supported by the House minority leader, and it was passed in the Senate on May 30. Then, the governor, Jared Polis, had 30 days to sign the bill into law. While the vote is not final, it does appear to indicate a positive trend for legalized sports betting in Colorado.
Legalization of sports betting in Tennessee
A new gambling law allowing legalized sports betting in Tennessee was passed by default in May. Although the proposed regulations are riddled with errors, the state government has put in substantial effort to make this law a reality. This new law will allow both land-based sportsbooks and online betting sites to operate in the Volunteer State. In the meantime, sports bettors in Tennessee will have a wider selection of gambling options than they did before.
Currently, Tennessee is one of the only states in the Southeast that offers mobile sports betting, but neighboring states offer in-person betting. This way, people outside Tennessee can place a bet and generate tax revenue. Meanwhile, Kentucky continues to debate sports gambling. The legalization of sports betting in Tennessee can provide a boost to the industry. This nascent industry is a welcome addition to Tennessee, and the state’s government is committed to making it successful.
Legalization of sports betting in Iowa
During the legislative session, over 20 bills had provisions for legalization of sports betting in Iowa. Many of these measures would have revised tax allocations. One bill, HF755, aimed at legalizing wagering on electronic sports events, such as video games hosted by authorized entities. Unfortunately, the bill did not pass before the session ended, but other measures may be coming soon. For now, Iowans have expressed their opposition to legal sports betting.
The state budget is among the best in the country. While the tax revenue from sports betting is not expected to reach that level, the state would benefit from this extra revenue. Moreover, sports betting in Iowa would allow bettors to bet on major events, semi-pro leagues, and minor tournaments. In addition to this, the state would benefit by reducing barriers to registration and implementing an efficient sportsbook lineup.