sports betting in Georgia, ed through the state’s Senate Economic Development and Tourism Committee on Tuesday morning by a vote of 8-2.
If approved, the bill would allow for 16 Georgia sports betting, unlike SB 172, which is currently tabled in the Senate. Under SB 386, the state lottery would regulate sports betting.
Professional sports franchises and venues, including the Atlanta Falcons, Atlanta Braves, Atlanta Hawks, Atlanta FC, Atlanta Dream, Augusta National, the PGA Tour, and Atlanta Motor Speedway, are expected to be eligible to apply for licenses under the language in SB 386. The Georgia Lottery could also apply, and there would be an additional seven standalone operator licenses awarded through an open application process.
Operators would pay a 20% tax on adjusted gross income, a change from the originally proposed bill, which had a tax rate of 15%. Operators would also pay a $100,000 application fee in addition to an annual renewal fee of $1 million.
Bettors would need to be 21 years old to place a legal wager in Georgia.
Next steps z45i
The bill is expected to be discussed next in the Senate Rules Committee. It could then be discussed on the Senate floor should it successfully move through the Rules Committee.
While the bill has the backing of professional sports franchises and operators, there are some remaining vocal detractors.
“Gambling is basically legalized fraud,” Mike Griffin, a public affairs representative for the Georgia Baptist Mission Board, said Tuesday.
Bill detractors often cite a potential rise in problem gambling as a reason to avoid legalizing sports betting. Bill ers counter that the potential revenue generation — some ers estimate SB 386 could generate $100 million in annual tax revenue — makes legalization worthwhile.
