A new legal sports betting bill has been introduced in Minnesota that will clear the path for mobile sportsbook apps. HF2000, if passed, could allow for mobile sports betting to occur before the end of 2023.
We’ve combed through the bill to see what it has in store regarding legal sports betting in Minnesota.
What’s Included In HF2000?
The legal sports betting age in MN will be set at 21 years old. Bets can only be placed on mobile devices or by using laptops or PCs that are connected to the Internet.
There will be 11 licenses available for tribal gaming interests to apply for that are good for 20 years once approved. 11 licenses will be available for sportsbook platform providers with a $6,000 application fee. The annual operating fee is $38,500, then $25,000 every three years for renewals.
Sportsbook banking options include prepaid vouchers, debit cards, bank wires, and checks. Sadly, there is no inclusion for cryptocurrency at this time. Betting cannot occur until 3 hours after the completion of depositing funds. This is included to prevent flippant gaming for high values.
Like other legal sports betting states, MN will impose an exclusion list that gamblers can voluntarily place themselves on, or operators can add people to that are not allowed to access a sportsbook within the state.
A large emphasis has been placed on the targeting of under-21 patrons in sportsbook-related advertising. There is also limits on how often these ads can run and where they can be posted.
For instance, no sportsbook promotions can be shown in areas of mass transit like bus stations, airports, and inside of cabs.
There will be a 10% tax levied against all sports betting profits collected.
What Can I Bet On In Minnesota?
Standard betting lines will be available for most major pro and college sports. These will include the point spread, money line odds for betting on winning teams or athletes, and the over/under.
Prop bets, or proposition wagers, can be produced that take action on activities not covered in the three above-mentioned elements of a betting line. This includes stat totals for players and teams, but can also involve the results of the pregame coin toss or the length of the National Anthem.
In-game betting will be offered for wagering on contests that have already begun. This typically includes the three elements of betting lines, but the bill language was not specific on what can and cannot take in-game wagers.
Futures betting for league champions and tournament winners are legal under HF2000. eSports betting is also on the table, which essentially equates to gambling on competitive video gaming. Its inclusion in the bill alone should reveal the burgeoning popularity of betting on eSports.
The Minnesota Gambling Control Board can restrict betting on any event they so choose. Odds will not be allowed for gambling on injuries, penalties or their results, or replay reviews by officials.
When Will Sports Betting Become Legal In MN?
If HF 2000 passes through the Minnesota House and Senate and receives Governor Walz’s signature, it carries an effective date of June 30, 2024.
While that early date is a touch ambitious, there is a chance that mobile sportsbook applications could debut in time for betting on the NFL.
