Georgia Attempts Another Senate Bill to Legalize Sports Betting

Supporters of a legal sports betting platform in Georgia are determined to ensure that residents have access to top sportsbooks, making failure not an option.

Senator Bill Cowsert, after facing years of unsuccessful attempts to legalize sports betting in Georgia, has introduced a new bill (SB 172) in hopes of finally achieving success. Last year, Cowsert’s similar bill failed to pass the Senate.

On Wednesday, he expressed his belief that it may be time to address the issue this year, make a list, come to a decision, and finally move forward.

This time, Cowsert successfully moved his Bill out of the Senate Regulated Industries Committee with a vote of 8-4. This paves the way for the familiar debate to take place on the Senate floor in Georgia, where similar proposals have previously been unsuccessful.

It remains uncertain if there is greater momentum this time around for such a platform, but with its large population of 12.7 million residents and professional sports teams like the Atlanta Falcons, Atlanta Hawks, and Atlanta Braves, as well as the renowned NCAA program of the Georgia Bulldogs, the Peach State could be a significant victory for the growing U.S. legal sports wagering industry. Many residents would likely appreciate the opportunity to utilize promotions from our top sports betting apps.

Details of SB 172

SB 172 aims to legalize retail and mobile sports betting in Georgia under the regulation of a newly established Georgia Sports Betting Commission.

Professional sports venues would house retail sportsbooks, fulfilling the desire for increased fan engagement that leagues and teams are seeking to achieve. These establishments, referred to as Type 2 licenses, are set to be limited to 5 to 10 in Georgia.

The Bill allows for at least six Type 1 licenses for mobile sports betting in Georgia, with unlimited potential for live books. Sports betting apps in Georgia must pay a $100,000 application fee and an annual $1 million fee to operate in the state.

Under SB 172, parlays, prop bets, and live bets would be subject to a 25% tax rate on adjusted gross income, while all other wagers would be taxed at a rate of 20%.

Betting on collegiate sports would be allowed, but prop bets specifically on those sports would not be allowed.

Constitutional amendment

There is ongoing discussion in Georgia about the need for a constitutional amendment in order to pass a legal sports betting bill. The current Georgia Constitution prohibits all forms of gambling.

Cowsert’s most recent proposal requires a constitutional amendment in order for legal sports betting to be implemented in Georgia.

This implies that a majority of the state’s House and Senate members must approve the amendment before it can be presented to voters on the 2024 Election ballot. Ultimately, the voters will have the ultimate decision.

Both bettors and the average citizen of Georgia may not be too concerned about changing the constitution for legal sports betting. Nevertheless, it could be the most straightforward way to make this idea a reality. Senator Cowsert himself acknowledged that “the safest bet is to pursue a constitutional amendment.”

The chances

Georgia is cautiously optimistic that momentum is finally favoring pro-sports betting factions after years of debate. However, it is important to note that SB 172 is not a guaranteed success.

The debate regarding the benefits of legal sports betting, the allocation of tax revenue, and the need for a constitutional amendment must be resolved before March 28, the end of the current Georgia legislative session.

Despite numerous efforts to legalize it over the years, the industry has not been stagnant for a long time.

Is it likely that legal sports betting will come to Georgia in 2024, or is it a toss-up at this point?