New Bill Could Legalize College Football Sports Betting in Nebraska

While some are fearful of expanding the state’s gambling scene, others try to calm the waters by looking to the positives – improving consistency and tax revenue.

Limited College Football Sports Betting

According to the bill, sports betting on matches that involve the football teams of home universities and colleges would become legal. There is one caveat, though, that’s in line with the current legislation, and that is the requirement that only matches played within the state would be eligible for placing sports bets.

The bill was proposed by State Senator Eliot Bostar of Lincoln. He was also behind Legislative Bill 1268, which proposed vending machines specialized in selling lottery tickets, so his name is rather well linked to the expansion of betting in the Cornhusker State. However, he was clear that the latest push was not for expansion.

Rather, he said, Legislative Bill 168 was aimed at providing more consistency in the state’s statutes, according to a report from Omaha World-Herald. Additionally, the bill would partially fund the Nebraska Opportunity Grant program – the state’s post-secondary college and university scholarship fund, which is currently fueled by lottery income.

The focus of the new bill would be to address the current legislation’s requirements for sports betting and geographical location. As it currently stands, there are strict rules for placing a sports bet in Nebraska, and even though it’s technically legal, the first sports bet in the state is yet to be made in one of its racetrack casinos.

Nebraska’s Evolving Gambling Scene

There are two casinos in the state – WarHorse Casino in Lincoln, and the Grand Island’s Fonner Park casino. The former generated around $286,000 in taxes in its first week, so the outlook for that vertical is very positive. While exact revenue numbers weren’t shared, Nebraska’s casino tax rate is 20%. That means at least $1.4 million was netted by the casino.

Those were the numbers for the temporary casino, as the main construction is slated for the end of 2024, which is sure to generate even more interest with its expanded offerings. With sports betting rules slated for approval in the coming months, there is a very real possibility for the full-fledged casino to offer that as well.

It may be difficult to circumvent the narrative of expanding gambling with Sen. Bostar’s Bill 168, but the state is undoubtedly looking into ways to grow the market. It’s aiming to bring more casinos through the construction of new horse tracks and also – greenlighted the construction of a new casino recently –Harrah’s Nebraska casino in Columbus.

Other than that, Nebraska is also looking into ways to tax skill games, which have become a favorite pastime for Nebraskans. As many businesses rely on these games, some fear that taxation would bring the end for them, while others, WarHorse Casino included, believe it’s not only inevitable but also beneficial, as that would enable the lowering of the state’s property taxes.