- A Georgia sports betting bill to legalize sports betting passed out of committee this morning
- The bill, SB 386, legalizes sports betting without a constitutional amendment
- The bill now heads to the Senate Rules committee and could be heard on the Senate floor by Thursday
Georgia sports betting hopes are off to a fast start in 2024 as a sports betting bill has already received approval from a Senate committee and could reach the Senate floor as early as this week.
Sen. Clint Dixon’s (R-45) sports betting bill, SB 386, was approved this morning by the Economic Development and Tourism Committee by an 8-2 vote. The bill, which legalizes sports betting in the state, now heads to the Senate Rules committee.
If approved by the Senate Rules committee, it could be sent to the Senate floor as early as this Thursday. The Senate Rules committee meets this afternoon, but the agenda for the meeting has yet to be published.
Tax Rate Increased in Committee
Dixon presented his bill to the committee with one impactful change. Dixon introduced his bill last week with a 15% sports betting tax rate on adjusted gross revenue, but presented the bill to committee this morning with an amendment to increase the tax rate to 20%.
The bipartisan bill, sponsored by 16 senators, would legalize online sports betting and allow for 16 sports betting licenses in the state. The Georgia Lottery Corporation would regulate sports betting and make sports betting a lottery game.
Dixon’s bill, which differs from previous forms of sports betting legislation, does not require a constitutional amendment for legalization. All revenue from sports betting will be sent to the Georgia Lottery to fund pre-kindergarten programs and HOPE scholarships.
The committee discussed the bill for all of 10 minutes before opening the floor to comments from the public. Mike Griffin of the Georgia Baptist Mission Board spoke out against the bill, decrying sports betting in the state and questioning the bill’s legality.
“Gambling is basically legalized fraud. Gambling is gambling. You can’t win. The industry cannot lose. The players have to lose in order for them to win,” Griffin said.
When Georgia voters approved the lottery in 1993 it’s unlikely they knew it would pave the way for legalized sports betting three decades later, he said.
Nick Fernandez, Director of Government Affairs at Metro Atlanta Chamber, described the bill as a “win” for Georgia. Funding for HOPE scholarships and pre-kindergarten programs through the Georgia Lottery is effectively tapped out, he said, and the revenue from sports betting will go a long way to doing more good in the state.
Georgia Sports Betting Bill Details
Dixon noted one further amendment to the bill during the meeting, as it now specifically prohibits betting on the Special Olympics.
Licenses would cost $1 million annually to renew and applicants would have to pay a $100,000 application fee. It would allow for bets on college sports.
The bill accounts for a total of 16 online sports betting licenses, with the numbers breaking down as follows:
- Five for Georgia professional sports teams (Atlanta Hawks, Atlanta Falcons, Atlanta Braves, Atlanta United FC, and Atlanta Dream)
- One for Augusta National Golf Course
- One for the PGA Tour
- One for Atlanta Motor Speedway
- One for the Georgia Lottery Corporation
The remaining seven licenses will be awarded by the Lottery Corporation through a public procurement process.
The bill has the support of several key legislators in the Georgia Senate, including Sen. Gloria Butler (D-55), the Senate Minority Leader, as well as Gov. Brian Kemp (R) and Lt. Gov. Burt Jones (R). The likelihood of the legislation passing in the Senate is high, but as the case has been in the last few years the House will likely prove to be a higher mountain to climb for legalization.
The post Georgia Sports Betting Bill Takes First Positive Steps in the Senate appeared first on Sports Betting Dime.
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