There could be some movement on the Nebraska online sports betting front as a special sess✤ion beginning on July 25 with state legislatures will have discussions surrounding the topic. Here is 🌊the latest.
Nebraska Lawmakers Special Session Begins July 25
Nebraska Governor Jim Pillen plans to call for a special sessi𒁃on of the state legisla꧑ture that will begin on July 25. It will focus on property tax reform and the discussion of online sports betting.
Session Will Include Talk of Online Sports Betting Amendment
The special session could dive deep into whether the state wants to add an amendment to the ballot in November that allows residents of the state to vote on legalizing online sports betting. It would put the decision in the hands of the people. Nebraska currently allows sports betting but does not ha🔥ve online sports betting. You can wager at just a couple of retail locations at casinos in the state.
Amendment Needs 60% Supermajority Vote to Reach Ballot
For the ballot to include a constitutional amendment from the legislature, it would take a supermajority vote. That means at least 60% would have to vote “Yes” on adding it to the 2024 November ballot. In Nebraska, that would be 30 of the state’s 49 lawmakers would have to be in favor.
Amendment Would Need Majority From Voters to Pass
Now, if the amendment is able to pass the state legislature, it would go on the ballot this November. Then, it would need a majority which is more than 50% of voters to approve for it to pass. Recent polling data shows that over 60% of voters in Nebraska are in favor of legalizing online sports betting in the💟 state.
Potential Nebraska Online Sports Betting Revenue
The big question lawmakers will ask about Nebraska online sports betting comes down to money. How much revenue will it generate? Most sports betting revenue in legal states comes from online options. States like Iowa, Michigan, and Ohio have allowed top brands like DraftKings, FanDuel, and BetMGM to operate online within their borders with certain tax laws set to ♕maximum revenue.
In Iowa, sports betting revenue is reportedly $2.6 billion in the last year. 92% of that comes fඣrom online sources. Nebraska has generated only $1.7 million this year with its four retail sportsbooks. Breaking down the taxes, it means Nebraska has generated just over $340,000 in revenue during that span.
If Nebraska put up similar numbers to Iowa in online betting, it would be looking at over $480 million in revenue. This will be a🦩 major factor in how the decision on Nebraska sports betting being added to the ballet will ultimately be made. If it does reach the ballot, it will be up to the people to see if they want online betting in♌ their state.
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