Sports betting took another step closer to being legalized in Georgia on Tuesday, March 12. The bill received its first hearing in House.
If the bill is passed, up to 16 sports betting apps could be heading to The Empire State of the South. Although, no vote was conducted in the House Higher Education Committee.
Senator Clint Dixon addressed the committee and spoke in detail about the bill. He explained that the tax rate would be set at 20% of adjusted gross revenue.
Of the 16 licenses in question, application fees would be set at $100,000 and the annual renewal fee would cost $1m. Of these licences, seven would be set aside for professional sports franchises.
The Georgia Lottery – which would serve as the regulator – would also be in line to receive one of the licences. In February, SB 386 was passed by the senate which has really opened up the possibility of legalizing sports betting.
Sports Betting In Georgia
The clock is very much ticking for sports betting in Georgia to be legalized. The state’s legislative session will come to an end on March 28.
This means that the house has just two weeks to finalize discussions on SB 386 before deciding whether or not to pass it. The bill would still need voter approval in November 2024.
With that in mind, strong opposition is expected from faith groups who are wholeheartedly against sports betting in Georgia. Many are worried about the long term future of the younger generation.
Something worth bearing in mind is that the House of Representatives has never passed a sports betting bill before. However, early indications suggest this could be about to change.
In terms of those who would be eligible for a sports betting licence include all of the pro sports teams such as the Atlanta Falcons, Atlanta Hawks and Atlanta Braves. Even the world-famous Augusta Country Club is included.
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