The Georgia House updates sports betting legislation

The Georgia House updates sports betting legislation

Added:
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.

  • The Georgia House updates sports betting legislation The Georgia House updates sports betting legislation
  • Svenska Spel fined 100M SEK for Gambling Act violations Svenska Spel fined 100M SEK for Gambling Act violations