The Mississippi House of Representatives Gaming Commission is currently moving forward with the legislative proposal, known as House Bill 774.
The project’s main objective is the comprehensive legalization of mobile sports betting in the State. This move represents a significant step towards modernizing online gaming regulations.
The bill’s terms would authorize Mississippi’s 26 existing casinos to launch their own platforms dedicated to online sports betting.
However, this permission comes with the condition that each casino establishes a partnership with a previously licensed platform, excluding any physical sportsbook that was already operating.
It is crucial to note that only established casinos would have the exclusivity to participate in this emerging market, clearly defining who would have access to online sports betting in Mississippi.
Details on PL Betting Fees and Licenses in Mississippi
As far as financial implications go, the bill remains relatively silent on potential application fees for licenses.
However, it details a renewal fee structure, with manufacturer licenses renewing for $1,000 and seller or distributor licenses for $500.
Additionally, the bill proposes a tiered approach to taxes based on gross income:
- 4% for monthly income less than US$50,000
- 6% for amounts between US$50,000 and US$134,000
- 8% for revenues exceeding this amount.
For players, the minimum age for participation would be set at 21 years old. Thus, with the freedom to place bets from any location within the borders of Mississippi.
If the bill is enacted, it is expected to come into force on July 1st of this year. Thus, marking a new era for sports betting in the state.
Therefore, this legislation seeks to not only legalize online sports betting but also establish a comprehensive regulatory framework.
