The second month of the year was marked by notable progress with regard to the expansion of sports betting across the United States. Minnesota and Kentucky presented the bills that aims to legalize online and retail sports betting whereas New York is preparing to welcome online casino gaming.
As for the rest of the world, the markets were rather quiet except for some significant changes in Brazil, which is preparing the grounds for online sports betting legalization. Also, the local regulator of Chile tightened up player protection measures by introducing new guidelines for advertising.
Retrospective of Updates from the United States
Georgia: Legislators presented a bill SB57 to authorize and regulate retail and online sports wagering. If passed, the Bill would enable the state’s pro sports teams to receive 5 licenses for online betting. National sports venues and commercial operators would receive 4 and 9 licenses respectively. Betting kiosks at establishments with liquor licenses would be greenlighted to offer retail sports betting, while the suggested tax rate would amount to 20% of the gross win.
Illinois: The Bill which aims to regulate online gaming in Illinois SB 1656 was presented by senator Christina Castro. If approved, the bill would permit online gaming operators to offer online casino and poker games via three skins at a tax rate of 15% of the gross win.
Kentucky: The House was introduced Bill HB 551 which aims to legalize retail/online sports wagering in the state, but without encompassing daily fantasy sports and online poker. As per the Bill, the state’s nine racetracks would receive three online skins each.
Minnesota: Representative Zack Stephenson suggested the legalization of retail and online sports betting through the state’s Tribes at a tax rate of 10% of the gross win. According to the Bill, tribes would be allowed to enter an agreement with one commercial sports betting supplier.
New York: If Senator Joe Addabbo’s Bill SB 4856 is passed, the state could open its doors to online casino games. Aside from the state’s existing online sports betting operators, commercial and tribal casinos, and racinos, three additional online-only operators would receive one skin per license as well to offer the said products. The suggested tax rate is 30.5%, which encompasses a bonus deduction.
Ohio: betParx went live with its mobile sportsbook in the state on February 14, 2023.
South Dakota: Senator Ryan Maher presented a Bill SB 209, suggesting that retail sports betting should be expanded outside of Deadwood. As per the bill, any liquor-licensed venues in the state would be allowed to offer retail sports betting.
Vermont: Bill HB127 which aims to authorize online sports wagering was presented by the legislators. It is indicated that between 2 and 6 commercial operators would receive approvals to offer their services to players.
Most Recent Regulations in South America
Brazil: It seems that the country is a step closer to introducing online sports betting, as the local Ministry of Finance is drafting a bill to legalize it. Though no details were revealed yet, it is said that the draft includes an interim package for quick regulation of sports betting sites. This should serve as a temporary framework until detailed regulation is presented.
Chile: Aiming to ensure better player protection, the local regulator Superintendencia de Casinos de Juego (SCJ) ordered television channels to stop advertising offshore online gambling providers. On the other hand, it is permitted to advertise products that are considered legal under the current regulations. This includes lottery games operated by Polla Chilena de Beneficencia SA, the Lotería de Concepción SA, racetracks, and casinos.
H2 Gambling Capital, February 2023
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