The Mississippi Gaming Commission ruled unanimously last week to approve sports betting in casinos in the magnolia state. Casinos have now begun turning in paperwork for approval to operate an open Sports Book once the law is enacted.
By late July, Mississippians will most likely be able to walk in to one of the 28 casinos in the state and place a bet on anything from NCAA Football to Major League Baseball to Olympic events.
This local approval spurs from a decision made by the Supreme Court in May to do away with the ban of sports betting in majority of states. States like Mississippi then were able to create their own laws and regulations regarding sports betting.
Unlike how some states will operate, Mississippi sports gambling will only be legal inside casinos. Lawmakers see this as a competitive edge to boost tourism in cities like Biloxi, Tunica and Gulfport. The state will collect a total of 12 percent of the money a casino profits with 8 percent being allocated to the state and 4 percent going to local governments.
Here’s what to know about the new law change:
First, casinos will not take bets from any type of coach or athlete and bets placed over $5,000 will be noted separately. Bets on non-sporting events will not be taken. This means any gambling line bets involving political races, entertainment awards or more will not be taken by Mississippi casinos.
If one wants to place sports bets online, one can but must create a special account and must remain on-site of the casino to place said bet. Let’s say someone gets lucky one night and hits a parlay bet to win $6,000. The state is going to take 25 percent of that $6,000 won. Casinos in Mississippi are required to withhold 25 percent of a patron’s winnings if he or she wins more than $5,000.
Some representatives of Mississippi sports are hesitant for the application of sports betting in Mississippi. Representatives from minor league baseball teams like the Mississippi Braves stated that they are nervous about the manipulation of their minor league game due to the vulnerability of its size. Vice President of Tournament Administration for the PGA Tour, Andy Levinson, discussed how the regulations around sports betting are not strict enough.
Levinson said these laws “put sports fans, sports bettors, athletes and professional sport themselves at risk.