Relative to advanced deposit account wagering.
This legislation is expected to create a structured revenue-sharing model, wherein licensed wagering providers will commit to paying 1.25% of all wagers placed by New Hampshire residents. The anticipated revenue from this new form of wagering is projected to increase the state’s income significantly, with estimates suggesting that revenues could reach approximately $212,500 annually by the fiscal year 2027. These funds will be allocated to the state’s Lottery Fund and subsequently contribute to the Education Trust Fund, indicating a dual benefit of enhancing state finances and supporting educational initiatives.
Senate Bill 60 (SB60) aims to regulate advanced deposit wagering for pari-mutuel betting on horse racing in New Hampshire. The bill commits to establishing a licensing framework under which entities may offer advanced deposit wagering to residents of the state. It lays down specific requirements that such licensed providers must meet, including demonstrating financial responsibility through surety bonds or similar guarantees. This regulation represents a significant shift in the landscape of gambling in New Hampshire, aligning state laws with existing federal regulations under the Interstate Horseracing Act.
There are notable discussions surrounding SB60, particularly regarding the regulation of gambling and the concerns about responsible gaming. While supporters claim that regulation could enhance consumer protections and generate state revenue, critics may argue against state reliance on gambling revenues or raise concerns about the impacts on vulnerable populations. Additionally, there may be apprehensions regarding how effectively the state can enforce regulations ensuring financial responsibility among licensed providers and protect consumers' interests.