Georgia’s sports betting bill fails over tax dispute
There was an attempt to legalize sports betting in Georgia, however there were issues with the way the revenue from taxes would be used.The division of tax revenue...
The Georgia House updates sports betting legislation
Two sports betting bills are being modified by the Georgia House.
In Senate Bill 386 an amendment to the Georgia constitution would regulate sports betting online. Senate Resolution 579, the amendment, would give Georgia voters the power to determine whether sports betting should be regulated by the state.
Up to sixteen sports betting licenses can be offered by the Georgia lottery according to SB 386. Since the law was first introduced this year, it has undergone changes. In an effort to boost earnings for Georgians, a committee recently decided to increase the tax rate on sports betting revenue from twenty percent to twenty-five percent.
Additionally, the law was changed to remove the deduction of promotional credits from taxable income. The way that earnings from sports betting are allocated has been modified. At first, pre-K and the HOPE Scholarship program were funded with eighty percent of tax income; a fund for responsible gambling received fifteen percent of the money, and a fund for sports promotion received five percent. The bill was changed so that all proceeds would go toward funding pre-kindergarten, capital projects, and education. The revised measure does not allocate funds specifically for HBCUs or for free school lunches or breakfasts.
SB 386’s wording is similar to that of North Carolina, which recently legalized sports betting but did not create a structure for daily fantasy sports (DFS). As a result, SB 386 does not permit DFS.
Georgia reviews mobile sports betting legislation
A measure to legalize mobile sports betting in Georgia was recently considered by the House of Representatives.This law would allow sports bettors to use mobile phones...
