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Dec 16, 2018

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The door to state-sanctionedsports betting was opened after a Supreme Court decision made in May . A few things are certain: Starting with the fact that voters will have their say on sports gambling, at least when it come to taxes. The state constitution requires a vote on any new taxes, and the Department ofRevenueis recommending a tax rate of between 6.5 and 16 percent of Adjusted Gross Proceeds. If the tax is set too high, it will discourage players from moving out of the black market, according to the document. Licensed facilities for sports betting should pay fees to cover the cost of regulation, according to the Department of Revenue. A commission, either under the Division of Gaming or Racing or a new division, should be given the power by the legislature to create permitted games and betting limits as well as conduct enforcement. But importantly, the Department of Revenue believes the states horse track and mountain casinos, which dont often agree on issues, should both get a piece of sports betting no matter which Department or division regulates it. From a practical political standpoint I think that both of those industries are going to have to have some level of involvement or its going to be pretty difficult to get anything passed [through the legislature], Hartman said. The casinos arent convinced.

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