Sports betting was formally legalized in Nebraska late final week after Gov. Pete Ricketts signed LB 561 into legislation.
It appeared extra probably that the outspoken anti-gambling governor would permit the invoice to move via inaction, however Ricketts put his signature on the laws, which is able to permit Nebraskans to wager on all skilled and collegiate athletic occasions. Bettors is not going to be allowed to gamble on in-state faculty sports activities, nonetheless, together with house video games of the University of Nebraska or Creighton University.
LB 561 handed via the unicameral legislature by a 44-3 margin. The now-law will permit solely retail sportsbooks at pari-mutuel services to just accept sports activities bets. The invoice additionally created a brand new gaming fee that can oversee the state’s budding on line casino market.
Last November, Nebraska residents voted to permit on line casino playing of their state. The poll initiative allowed for “games of chance” to be supplied on the state’s racetracks. Most, if not all, of the pari-mutuels will both be transformed to or add a on line casino to its services.
According to a report from The Action Network, these gaming operators will “likely partner” with a 3rd social gathering to run their brick-and-mortar sportsbooks. This will give a few of the bigger sports activities betting firms like DraftKings, FanDuel and William Hill entry to the Cornhusker State.
While the invoice did make clear that sports activities betting can be allowed, because it was nonetheless in a gray space even after the poll initiative, on-line betting is just not permitted below Nebraska legislation. The lack of a web-based betting market will harm income streams of suppliers and finally state coffers.
In most states with each on-line and retail betting, the overwhelming majority of income comes from cellular apps or on-line books. In New Jersey, one of many largest U.S. sports activities betting markets, about 92% of the 2020 sports activities betting deal with was positioned on-line.
There is not any timeline for the launch of the sports activities betting market, however most estimates vary between the tip of 2021 or the beginning of 2022. With Ricketts’ signature, Nebraska joins South Dakota, Wyoming, New York, Arizona, Maryland and Connecticut as states which have legalized or expanded sports activities betting this 12 months.