The expression "down to the wire" originates from horse racing, where it was long the practice to extend a wire throughout and above the track at the goal.
The saying is also a timely and apt descriptor of an expense authorized Friday by the House Ways and Means Committee that would legislate sports wagering in the state while prohibiting some gaming devices at horse racing tracks, all with just six legislative - and 10 calendar - days remaining in the session.
By a voice vote, the committee embraced a delete-all modification to put the language of HF2000 (sports betting) into the underlying language of HF5274 (horse track regulations). A split-voice vote sent the combined plan to the House Floor.Rep. Zack Stephenson
Legalizing sports wagering
Rep. Zack Stephenson (DFL-Coon Rapids) sponsors both bills and states legalizing sports wagering is the best method to combat the blossoming illegal black market that currently exists in the state.
"It is unlawful to engage in sports betting in Minnesota today, and it takes place each and every single day in extreme amounts. We will be transitioning individuals from the black market into a legitimate market."
By doing so, Stephenson stated, the state would gather taxes on all sports wagers, which would both benefit the state's bottom line and be utilized to run programs to deal with issue gamblers.
definitions.net
The bill would give sports betting licenses to the 11 tribal nations in Minnesota and permit those ages 21 and older to bank on a range of athletic events, including esports. Wagers would be permitted at brick-and-mortar locations on tribal lands or using mobile apps licensed to tribal entities.
Wagers could not be placed on horse racing or youth sports however would be allowed on particular sort of dream contests.
A tax would be enforced on sports betting net earnings equivalent to 20% of wagers put online through a site or mobile application. Bets positioned on tribal land would be exempt from the proposed tax.
[MORE: View the spreadsheet] House Ways and Means Committee - part 1 5/10/ 24
Stephenson stated the expense would forbid betting on horse races due to the fact that doing otherwise would jeopardize the financial viability of Minnesota's two horse racing tracks, which are currently struggling due to the shrinking purses they have the ability to pay out.
Portions of the tax profits gathered would be used to supplements of $625,000 every year at the tracks: 72% would go to Canterbury Park and 28% to Running Aces.
Despite steps required to protect horse racing in the state, including the funds to supplement purses, Rep. Brian Pfarr (R-Le Sueur) stated legislating sports betting would deal a big blow to both tracks. "That's not enough, since if those service are gone, it doesn't matter."
Appropriations
The costs would suitable $8.32 million in financial year 2025 to the Department of Public Safety to carry out responsibilities needed to establish and manage mobile sports wagering and dream contests. Future appropriations would be $5.49 million in 2026 and $5.47 million yearly beginning in financial year 2027.
[MORE: View fiscal analysis]
Regulating gaming at horse racing tracks
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The bill would define that "historical horse racing" makers are gambling gadgets and for that reason not allowed at Canterbury Park and Running Aces.
Stephenson said these makers are "basically slots" because of the random nature of the payouts. By law, fruit machine can only be situated on tribal lands.
Historical horse racing is an electronic gambling item that permits players to bet on random replays of formerly run races, using terminals that normally look like slots. Identifying info such as the location and date of the race, and the names of the horses and jockeys, is disappointed.
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Legalized Sports Betting Back on Track as Session Reaches home Stretch
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