Gambling laws may soon be changing in the state of Mississippi following a unanimous vote by the state Gaming Commission that clears the way for the legalization of sports betting. Regulators moved quickly to tweak rules regarding Mississippi sports betting, and speculation exists that gambling on sports could start in July.

Recently, the Supreme Court ruled in New Jersey’s favor allowing the state to legalize and regulate sports betting, and other states moved forward with their legalization plans shortly after the decisions.

Few should be surprised the legislators approved sports betting, as a regulated industry can generate significant tax money to state treasuries. Foreign countries even rely heavily on sports wagering.

Casinos find themselves obligated to pay 12% tax on all bets and must log data related to bets and wins of more than $10,000. Specific rules regarding reporting suspicious bets have been put in place as well.

The new Mississippi sports betting law may require some tweaks. Professional baseball, basketball, and golf organizations aren’t always fans of all types of sports bets. Time will tell if the state accommodates the leagues’ requests.