Mississippi Bill Would Legalize Mobile Wagering, while New York Sports Betting Regs Say No to Online
Posted on: January 27, 2019, 05:23h.
Last updated on: January 27, 2019, 05:23h.
Six months after it became legal to offer sports betting in Mississippi, at least one lawmaker is prepared to admit the state made a mistake when it drew up its regulations.
Sen. Willie Simmons (D-Cleveland) has introduced the Gaming Control Act, which would legalize full-fledged mobile sports betting in Mississippi.
Unlike New Jersey, Mississippi chose not to approve full-scale mobile wagering last year. Bettors in the Magnolia State can use their phones to gamble but only when they are inside a physical casino location.
Sports betting has been going from strength to strength in New Jersey, and most of the action is online. Figures from December show New Jersyans are wagering nearly twice as much money online as in physical casinos and those figures are likely to grow.
Mississippi posted underwhelming figures for October and November at a time when New Jersey was breaking records thanks to its digital segment.
Mississippi Learning
Simmons’ bill seeks to address the balance by redefining the definition of a betting “platform” as it pertains to sports betting regulation.
‘Platform’ means a person or entity that operates a sports pool or race book over the Internet, including on websites and mobile devices, on behalf of the holder of a gaming license,” reads the bill. “Notwithstanding any provision of law to the contrary, a platform may determine whether to accept or reject wagers, determine the results of wagers, and payout winning wagers.”
New York Regs Finally Show Up
Meanwhile, it seems lawmakers in New York State are in danger of making the same error as Mississippi. The state’s long awaited sports betting regulations have finally surfaced, which will pave the way for the state’s four upstate casinos to open sports books later this year.
The regulations will allow the casinos to have betting kiosks on site in addition to sports books but there is no mention of online or mobile wagering. As it stands, the rules only authorize in-person retail betting.
New York voters legalized sports betting in 2013 when they authorized the four commercial casinos via public referendum. With the US Supreme Court’s rejection of the federal ban last May, all the state needed was a framework of regulation to be drawn up by the New York State Gaming Commission.
Room for Maneuver?
It’s likely Governor Andrew Cuomo put the new rules on hold to avoid any kind of controversy before his bid for reelection in November. Having won his new term, the Cuomo was content for regulators to proceed.
The regulations will now undergo a 60-day comment period, during which time the question of online betting will at least be raised.
Failing that, there is likely to be legislation introduced this year in Albany that will advocate online betting, as well as authorizing wagering at the state’s racetracks and possibly elsewhere. But since this would require another constitutional amendment via public referendum, it will take a long time to implement, even if the legislation is successful — still a big “if.”
The New York sports betting market has the potential to be twice as big that of Las Vegas, but that’s provided all potential stakeholders participate — and that seems to be a long way off.
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I have praised Mississippi, for limiting sports betting to commercial and Tribal casinos, because it gives customers a reason to visit a live gaming establishment. Not only do casino revenues increase, but the sale of room, food and beverage produces additional tax revenues, that are more than someone dining and drinking at home. Plus, for sports betting, most states will see tax revenues of 1%, or less, on each dollar wagered. In New Jersey, sports betting produced $1.24 billion in revenues, with $446.6 million at casinos and racetracks, and $780.6 million online. And the percentage bet online, went from 23% in August to 76% in December. But the Dec. live casino play in NJ was only $78.1 million, compared to MS at 41.7 million, with a third of the population. Mississippi benefited from a Dec. win percentage of 14.8, compared to New Jersey's 6.5% and total year win of 5.8%, close to Nevada's historic average. In Dec., MS earned $493 thousand in State tax revenue, compared to live NJ gaming of $406 thousand, and online of $1.59 million. Potential tax revenue, should not be a reason for MS to harm their existing casino industry. The tax on sports bets made, was ONLY 1.18% in Mississippi in Dec., and only 0.52% at live gaming in New Jersey (0.45% for the year). With online being taxed at 13%, rather than 8%, the State of NJ earned a tax of 0.85% in Dec. and 0.75% for 2018; with just under $8 million in total sports betting taxes in 2018. If MS casinos are not close enough to much of the State population; then the Legislature could consider sports betting parlors, for those communities that are to far from a live gaming establishment. They could be operated by existing, casino companies; and if the State is looking for more tax revenue, then add 50 or 100 slot machines to each parlor. The biggest problem with allowing sports betting on smart phones and computers, is that there will likely be an increase in problem gambling; with hundreds of in-game and proposition bets available on most sporting events. Plus betting from home also increases the risk of minors playing illegally; a fact that the UK learned recently, finding some 30% of under age children, betting on sports and casino games. Online gaming will reduce the numbers of visitors, now attending a commercial or Tribal casino, which will not only affect property revenues and taxes; but it will also cost MS jobs. Mississippi needs to decide, whether online gaming and sports betting is being proposed to increase tax revenues, or to make betting more accessible to the MS population. In either case, sports betting parlors, run by existing licensed casinos, would most likely solve both questions. Plus these parlors, with large screens and betting kiosks, with food and beverage available, would provide a much superior sports viewing experience, than an at home TV.