Georgia Attempts Another Senate Bill to Legalize Sports Betting
Failure doesn't seem to be an option for proponents of a legal sports betting platform in Georgia, who seem determined to make it so residents can access some of our best sportsbooks.
After years of failures to legalize sports betting in the Peach State, Senator Bill Cowsert has introduced another legal sports betting bill (SB 172), hoping to get such a bill over the finish line finally. Cowsert tried and failed to pass a similar Bill through the Senate just last year.
He said Wednesday: "... I just think it may be time, and I certainly wanted us to address the issue this year, list, decide it once and for all, and move on.”
This time, Cowsert was able to advance his Bill past the Senate Regulated Industries Committee by a vote margin of 8-4. It sets up familiar debate on the Peach State's Senate floor, where, as mentioned, such ideas have failed in the past.
Whether or not there is more momentum this time for such a platform is up in the air, but as the sixth most populous U.S. state with 12.7 million residents and professional sports teams, including the NFL's Atlanta Falcons, the NBA's Atlanta Hawks, and MLB's Atlanta Braves, along with the iconic NCAA program in the Georgia Bulldogs, the Peach State would represent a massive win for the broad and expanding U.S. legal sports wagering industry. Some residents surely would like to be able to take advantage of promos offered at our best sports betting apps.
Details of SB 172
SB 172 would legalize retail and mobile sports betting in Georgia and be regulated by a newly formed Georgia Sports Betting Commission.
Retail sportsbooks would be located inside professional sports venues, which checks the "fan engagement" box that leagues and individual sports teams have been looking to capitalize on. They would be known as Type 2 licenses, and there would be between 5 and 10 up for grabs in the Peach State.
A minimum of six mobile sports betting licenses, or Type 1 licenses, would be available under the Bill, with no maximum of books that could go live. Georgia sports betting apps would be required to pay a $100,000 application fee and an annual $1 million fee to operate in the state.
The tax rate under SB 172 would be 25% on adjusted gross income for parlays, prop bets, and live bets. All other wagers would be taxed at 20%.
Wagers on collegiate sports would be permitted, although prop bets on those sports would be prohibited.
Constitutional amendment
There has been much debate in the Peach State about the necessity of a constitutional amendment to pass a legal sports betting Bill. Under the current Georgia Constitution, gambling of any sort is prohibited.
Under Cowsert's latest plan, a constitutional amendment would be necessary for legal sports betting to launch in Georgia.
It means that two-thirds of the state's House and Senate would have to sign off on such an amendment before sending it to voters on the 2024 Election ballot. Voters would then have the final say.
Bettors and the average citizen of Georgia could likely care less about amending the constitution to bring about legal sports betting. However, It may be the easiest route to get the idea of such a platform over the finish line. As Sen. Cowsert said himself, “The safe play is to do a constitutional amendment.”
The chances
There is cautious optimism in Georgia that after years of debate, momentum is finally on the side of the pro-sports betting factions. It doesn’t mean that SB 172 is a slam dunk, however.
Debate on the merits of legal sports betting, where tax revenue will go, and the necessity of a constitutional amendment still have to take place… and all must be done by March 28, when the current Georgia legislative session closes for the year.
It isn’t a long time for an industry stymied for years despite many attempts to legalize it.
Will Georgians see legal sports betting in their state in 2024? Most have it as a 50/50 bet right now.
