- A bill to legalize sports betting has been introduced in South Carolina
- The bill will allow eight online sports betting licenses
- GeoComply released data showing residents are already looking to bet on sports
South Carolina legislators will once again discuss the legalization of sports betting in the Palmetto State for 2025, but state residents are already interested in the new form of gaming.
Rep. Chris Murphy (R-98) introduced HB 3625, the South Carolina Sports Wagering Act, to legalize online sports betting in the Palmetto State. The legislation will allow for up to eight sports betting licenses and sets the state tax rate at 12.5% of adjusted sports betting gaming revenues.
GeoComply, a geolocation compliance company, has released data showing thousands of South Carolinians are already attempting to access sports betting in the state despite it not being legal.
Sports Betting Interest at All-Time High
GeoComply recently reported that demand for South Carolina sports betting is surging, as the company identified more than 10,000 registered sports betting accounts in the state on Monday, Dec. 22.
The accounts were registered with legitimate sports betting operators, but all activity in the state is blocked.
GeoComply reported more than 77,000 geolocation checks from South Carolina residents during week 16 of the NFL season. This was a 536% increase in geolocation checks in the state compared with week 16 of last year.
While interest in sports betting is high among state residents, it remains to be seen if South Carolina lawmakers share the same enthusiasm for Murphy’s South Carolina Sports Wagering Act.
South Carolina Sports Betting Bill Details
While Murphy is the main sponsor of the bill, it also has bipartisan support from Rep. J. Todd Rutherford (D-74) and is co-sponsored by Rep. Heath Sessions (R-46).
The state’s legislative session is set to begin on Tuesday, Jan. 14, 2025. Murphy’s bill will establish a South Carolina Sports Wagering Commission to oversee the sports betting market and will only allow operators who are already established in at least five other states to apply for a sports betting license.
It will allow sports betting customers to place wagers on collegiate sports. It establishes a minimum age of 18 to bet, which will likely be a point of contention when the bill is discussed. Only Kentucky, New Hampshire, Rhode Island, and Washington, D.C. allow customers who are 18 to participate in their sports betting markets.
The bill requires all applicants to submit a $100,000 application fee and a licensing fee of $1 million. If the application is denied, the licensing fee will be refunded, but the application fee will remain with the state. Licenses will last for five years.
The commission will officially set the sports betting tax rate at 12.5% of adjustable sports betting gaming revenues. Operators will be able to deduct promotional spending from their gross gaming revenues.
Sports betting tax revenues will be distributed as such:
- 82% to the general fund
- 10% to the general fund to be distributed quarterly to each local government in the state on a per capita basis, as determined by population based on the last census
- 5% to the Department of Mental Health to oversee one or more grant programs with organizations to provide treatment services for individuals with problem gambling
- 3% to provide for the administrative and operating expenses of the South Carolina Sports Wagering Commission
The legislation also brings in fantasy sports from the current gray market it’s operating in the state. Fantasy contests would be legalized and regulated under the South Carolina Sports Wagering Commission.
Sports betting has long been a popular pastime in many states across the country, and South Carolina residents are no exception. With the recent legalization of sports betting in the state, many residents are showing early interest in this exciting new opportunity.
One of the main reasons for the high level of interest in sports betting in South Carolina is the state’s strong sports culture. From college football to NASCAR racing, sports play a huge role in the lives of many South Carolinians. With the ability to now legally place bets on their favorite teams and athletes, residents are eager to get in on the action.
Another factor driving the early interest in sports betting in South Carolina is the potential for financial gain. Many residents see sports betting as a way to make some extra money or even potentially hit it big with a big win. With the right knowledge and strategy, sports betting can be a lucrative endeavor for those who are willing to put in the time and effort.
In addition to the excitement of potentially winning money, sports betting also adds an extra layer of excitement to watching sports games. Many residents find that placing a bet on a game makes it more exciting and engaging, as they have a personal stake in the outcome. This can make even the most mundane of games feel like a high-stakes event.
Overall, it’s clear that South Carolina residents are eager to take advantage of the new opportunity to legally place bets on sports. With a strong sports culture and the potential for financial gain, it’s no surprise that interest in sports betting is already high in the state. As more residents become familiar with the ins and outs of sports betting, it’s likely that this interest will only continue to grow in the coming months and years.
