The campaign to legalize sports betting apps and online casinos in Georgia continues to gather pace, fostering hope that the state may one day welcome the best sportsbooks.
Senate Resolution 538, that could introduce a broad legal gambling platform, was passed by the Georgia Senate Economic Development and Tourism Committee late last week. This would affect Georgia, the eighth-largest state in America.
A rival Bill, which excludes a potentially more profitable online casino option for the state, is currently up for consideration. Much like SR 538, the stricter sports-betting only Bill, SB 386, necessitates a constitutional amendment. Additionally, it requires the ultimate approval from voters in the November election to allow betting sites to progress.
It appears that SR 538, with its intention to back casinos along with sports betting apps in Georgia, will gain more momentum in the future.
“Guys, the economic effect of sports betting may not be as significant as we think, perhaps around $80 million to $100 million,” stated Senator Carden Summers. “The economic influence of casinos, however, could reach into the billions.”
What is SR 538?
Senate Resolution 538 lacks specific details on the operation of the proposed platform’s legal sports betting sector, although there has been some clarity regarding the online casino sector.
The proposal would license five casinos and tax them at 13% of their adjusted gross revenues. However, the number of sportsbooks or top sports betting apps to be licensed remains undecided under SR 538. Additionally, the tax rate for sports betting apps in Georgia has not been firmly established.
Under bill SR 538, 50% of tax revenue would be designated for the state’s Freight and Logistics Fund, supporting roads and transportation infrastructure in Georgia. Additionally, 20% would be allocated to mental health and health care programs, another 20% would support the Child Care Fund, and the remaining 10% would benefit Georgia’s Historically Black Colleges and Universities.
Time is ticking
The ongoing legislative session in Georgia is swiftly nearing its conclusion, set for March 28. The deadline for introducing any new Bills in the state is fast approaching this Thursday.
The problem with the timeframe lies in the disagreement among lawmakers regarding the appearance of a legal gambling platform. Agreement is crucial, but neither the lawmakers nor the electorate have achieved this as we approach the end of the current legislative term.
There is undoubtedly growing momentum for sports betting in Georgia. The only uncertainty is whether it will be a standalone sports wagering platform or a comprehensive one that includes casinos. The proposed legislation may be put to a vote in November.
Looking ahead
The discussion regarding the legalization of sports betting in Georgia will persist for the next month, until the current session concludes. It remains uncertain whether the concept will successfully pass.
There’s no doubt that there is significant pressure for the potential introduction of sports betting apps in Georgia. If the goal is to launch legal sports betting by 2025 or 2025, it’s crucial for Georgia’s legislators to find common ground and present a solid proposal to the voters soon.