Georgia quarterback Carson Beck (15) looks to throw a pass during the second half of a NCAA college football game against Georgia Tech in Atlanta, on Saturday, Nov. 25, 2023.Georgia won 31-23. <\/p>\n
Georgias sports betting hopes are still alive in the states final legislative day, but they may be dwindling by the minute. <\/p>\n
Two pieces of legislation to legalize and regulate sports betting in the state were approved this morning by the Georgia House Committee on Higher Education, but stalled out shortly thereafter in the House Rules Committee. <\/p>\n
The Georgia sports betting package will have to be approved today by the House and sent to the Senate for concurrence or sports betting will fail once again in the Peach State. <\/p>\n
Members of the Georgia House Committee on Higher Education approved both SB 386, a bill to legalize online sports betting, and SR 579, a resolution legalizing sports betting through a constitutional amendment, and moved the legislation ahead to the House Committee on Rules. <\/p>\n
However, the House Committee on Rules did not take up the bills during its 9 a.m. session. Committee Chairman Rep. Butch Parrish (R-158) did note upon adjournment that the committee may meet again later in the day, which would give the bills another chance to move ahead to the House. The legislation first needs to be approved by the Rules Committee to be sent to the House for consideration. <\/p>\n
No time has been set for the next Rules Committee meeting. <\/p>\n
While the sports betting package isnt dead, its chances dwindle every hour it is not heard by the House floor. To be passed, SR 579 will have to be approved by a two-thirds majority and SB 386 by a simple majority. Then the legislation will have to be sent back to the Senate for concurrence, as the bills were amended in House committee. <\/p>\n
If everything is approved by both the House and Senate today, Georgia voters would have the final say on sports betting during the November general election. If approved by voters, sports betting would likely launch sometime in 2025. <\/p>\n
While not impossible, time is running out as today is the final day of the states legislative session. Action is expected to be taken until midnight, but with lawmakers jockeying for position to have their bills heard the competition will be high. <\/p>\n
Both SB 386 and SR 579 were amended in committee this morning. <\/p>\n
Sen. Clint Dixons (R-45) bill, SB 386, saw its sports betting tax rate amended from 20% to 25%, and language cleared up to ensure that operators cannot reduce free and promotional bets from its taxable revenue. The bill seeks to legalize online sports betting for 16 license holders in the state. 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. <\/p>\n
Sen. Bill Cowserts (R-16) SR 579, which requires Georgia voters to approve a constitutional amendment in the November general election to legalize sports betting, was also amended to set specific sports betting tax revenue disbursements in the state. The changes require that 85% of sports betting tax revenue will be earmarked for HOPE Scholarship funding, pre-kindergarten funding, educational training, and capital improvements, while the remaining 15% of revenue will be dedicated to a problem gaming fund and capped at $150 million. <\/p>\n
Cowsert touted the resolution as including the most robust responsible gaming provisions of any sports betting legislation in the country. To put things in perspective, to reach its cap of $150 million for problem gaming, the state would have to achieve $1 billion in sports betting tax revenue. <\/p>\n
If approved, SB 386 will legalize online sports betting for a total of 16 online sports betting licenses, with the numbers breaking down as follows: <\/p>\n
The remaining seven licenses will be awarded by a newly formed gaming commission that will regulate sports betting in the state. <\/p>\n
Gambling Regulatory Writer and Editor <\/p>\n
Rob covers all regulatory developments in online gambling. He specializes in US sports betting news along with casino regulation news as one of the most trusted sources in the country. <\/p>\n
Gambling <\/p>\n
Rob covers all regulatory developments in online gambling. He specializes in US sports betting news along with casino regulation news as one of the most trusted sources in the country. <\/p>\n
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All Eyes on Georgia Sports Betting During Final Legislative Day - Sports Betting Dime<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Georgia quarterback Carson Beck (15) looks to throw a pass during the second half of a NCAA college football game against Georgia Tech in Atlanta, on Saturday, Nov. 25, 2023.Georgia won 31-23. Georgias sports betting hopes are still alive in the states final legislative day, but they may be dwindling by the minute Continue reading