Georgia nixes Senate Resolution to legalize sports betting
Senate Resolution 131 handed a heavy defeat by the senate committee on Regulated Industries and Utilities, although other legislative efforts remain live and are in the pipeline
Georgia’s hopes for legalized sports betting were dealt a blow yesterday, February 27, after the state senate committee on Regulated Industries and Utilities failed to pass a Senate Resolution.
Senate Resolution 131, introduced by a quartet of Republican senators fronted by Carden Summers, was unanimously opposed bar two votes in yesterday’s meeting.
The proposal needed to receive backing from the senate committee to reach the senate floor, with the crossover date scheduled for next week.
Senate Resolution 131 would have included a 20% tax rate on online sports betting and igaming, with the creation of a new regulator to oversee the market.
However, the chances of the proposal progressing to completion were slim. The policy needed a two-thirds majority backing in both the state’s house and senate.
Then, Georgia residents would have been given the chance to vote on whether the legislation should come into effect.
Speaking to TV station FOX 5 Atlanta, GeoComply senior adviser John Pappas said 14,400 people tried to bet on this year’s Super Bowl from inside Georgia despite there not being a legalized market in the state.
Pappas added that should Georgia regulate the market, state coffers could be boosted by between $110m and $115m annually in tax revenue.
The channel also suggested that some of the senators who voted against Senate Resolution 131 “only did so because they didn’t believe it would get support in the house.”
Despite Senate Resolution 131 failing, Senate Bill 208 remains active in the legislature. Senator Billy Hickman, who also backed Summers’ legislation, introduced the bill earlier this month.
The proposal has also been referred to the senate committee on Regulated Industries and Utilities.
SB 208 would include a 25% tax rate and 18 licenses for online sports betting operators, along with a $1.5m annual license fee.
The licenses would be tied to Georgia’s professional sports teams, the Augusta National Golf Course, the PGA Tour, and the Atlanta Motor Speedway.
The Georgia Lottery Corporation would also be tied to a license, while two licenses would be linked to National Steeplechase Association-approved entities.
The remaining seven licenses would be awarded following a public procurement process.
The current Georgia legislative session runs until April 4.