A Pair of Sports Betting Bills Make a Case in Georgia Legislative Session This Week
The commotion centered around two sports betting bills in Georgia is heating up in their respective legislative sessions. After failing to pass a bill last year, can lawmakers get it done this year?
A Pair of Bills Were Discussed Earlier This Week
To start the week, a pair of bills were discussed. Later this week, three separate bills will be discussed to legalize sports betting in Georgia, but the pair discussed on Monday and Tuesday are the focus for now.
The House Higher Education Committee welcomed a hearing centered around HB 380. Despite the initiative being open to public comment, the committee didn’t act on the bill. On the other hand, SB 57 didn’t receive much attention leading up to the week.
In retrospect, the measure t passed through a Senate committee Monday evening. Through the grueling process, the bill makes it one step closer to receiving a vote on the Senate chamber floor. Neither of the two bills plans to welcome any constitutional amendments to bring legalized sports betting to the Peach State.
On the other end of the spectrum, SB 172 pairs with SR 140 to initiate constitutional amendments to the state. To move through the chambers, those bills must be voted on. The legislation is expected to be discussed on Thursday in the Senate Regulated Industries and Utilities Committee.
What is In the Writing of HB 380?
Rep. Marcus Wiedower shared a few notable changes to the bill. The tax rate based on adjusted revenue noted an increase from 15 percent to 20 percent. Bookmakers that receive approved licenses to accept wagers in the Peach State will be subjected to pay taxes on promotional deductions.
The Sports Betting Alliance, consisting of BetMGM, DraftKings, FanDuel, and Fanatics Sportsbook, has expressed their acceptance of tax-related changes. A representative from the group made this statement.
The bill was open to public discussion, and the opposers brought up comments in regard to problem gambling. In contrast, the advocates of the bill discussed that potential bettors need to move on from offshore sportsbooks.
Offshore sportsbooks aren’t obligated to follow any laws set by the United States, and Georgia continues to miss out on a plethora of revenue.
What’s the Difference in SB 57
Even though there wasn’t much action concerning this measure, it passed through the Senate Committee on Economic Development and Tourism on Monday. There is no set time to regard when the measure will be discussed in the current state.
SB 57 is one of the competitors that mentions different aspects of sports betting. The main difference is permitting the inclusion of fixed-odds wagering. However, some lawmakers are also fine with just focusing on sports gambling.
Segments of the bill show that the initiative would allow up to 18 mobile sports betting licenses. In addition, the adjusted tax rate would be set at 20 percent.
