The Mississippi House has entered a mobile sports betting bill for the third consecutive year. This year, Magnolia State lawmakers hope they have done enough to get the Bill through, committing to divert all funds raised to the Public Employees' Retirement System.
However, the Bill's strongest opponents have indicated that the changes would not be enough to convince them.
David Blount, the Senate Gaming Chairman, has suggested that the amounts raised by regulation would not be nearly enough to justify legalization, especially given the increased popularity of prediction markets.
Mississippi gambling regulation
The state currently has mixed gambling regulations; The Mississippi Gaming Control Act of 1990 permitted dockside casinos on the Mississippi River and the Gulf Coast, but they had to be built on floating docks.
In 2005, following the devastation caused by Hurricane Katrina, and in a bid to save the $500,000 a day in estimated state revenues, casinos were allowed to be built within 800 feet of the waterfront.
Today, there are around 30 retail casinos, as well as a handful of Class III Indian casinos owned and operated by the Mississippi Band of Choctaw Indians.
Furthermore, limited sports betting is allowed in the State. Licensed casinos can offer sports bets on their grounds, and this extends to mobile sports betting. However, mobile betting is not allowed away from the venues.
Regulation of mobile sports betting in Mississippi
House Bill 519 would update current regulations to allow mobile sports betting throughout the state.
The Bill, tabled by Rep. Jay McKnight earlier this month, proposes that mobile betting be taxed at the same rate as in-person betting.
Tax rates would range from 4% to 8% of gross revenue, depending on total monthly revenue.
Similar bills have failed in the past two years, but its supporters hope they have made adequate changes to help it pass this time.
Under the new Bill, all state revenues would be passed on to the state's pension fund. The Public Employees' Retirement System has $26bn in unfunded liability, and the tax would go towards meeting that sum.
Opposition to legalizing mobile sports betting in Mississippi
However, Senate Gaming Chairman, Blount has already countered the provision, pointing to the minimal difference it would make against the total sum.
Blount's counterpart on the House Committee estimated that the proposal would raise $80m a year in tax.
Blount disputes this figure, suggesting it would be closer to $30m - at most - and described it as being "infinitesimal" compared to the shortfall.
He pointed to the rise of prediction markets as causing a shortfall in estimated figures, saying:
"Predictions markets have essentially legalized nationwide mobile betting. Whatever amount of money was promised last year, that number is reduced, maybe greatly reduced.
"Because due to the actions of the current administration, no state can tax or regulate prediction markets, which are effectively gambling."
The proposals have also come under scrutiny from existing land-based casinos, who fear mobile betting would eat into their own profits.
It's clear the parties are still some way apart on the proposed legislation, but Eure promised: "I intend to pass it."
