- Two pieces of Georgia sports betting legislation were approved by the House Higher Education Committee
- The legislation now moves to the House Rules Committee
- The bills must be approved by the House of Representatives by Thursday, March 6 to continue on
There is nothing Georgia lawmakers love more than bringing sports betting down to the absolute wire.
Two pieces of Georgia sports betting legislation today were approved by the House of Representatives Committee on Higher Education, bringing them one step closer to the House floor.
However, crossover day in Georgia draws near, and if the House does not approve both pieces of legislation by tomorrow, sports betting efforts in the Peach State will die for the year.
Still More Mountains to Climb
Rep. Marcus Wiedower’s (R-119) legislation, HR 450 and HB 686, seek to legalize Georgia online sports betting through a constitutional amendment.
It now heads to the House Rules Committee, which is scheduled to meet tomorrow morning at 9 a.m. The legislation will have to pass through the committee and then pass be approved by the house before tomorrow’s crossover day ends.
Adding to the intrigue? Because the triggering mechanism is through a constitutional amendment, the House of Representatives will have to approve the legislation by a two-thirds majority.
If passed by the House, the legislation will crossover into the Senate and go through the same process.
And if it doesn’t? Well, Georgia’s sports betting hopes will die out for another year.
Bill Amended for Higher Tax Rate
The Higher Education committee approved both pieces of legislation after a little more than 10 minutes of discussion. Two amendments were proposed by Rep. Sam Park (R-107), one of which would have included online casino gaming to the legislation.
The online casino gaming amendment was quickly defeated, but another amendment proposed by Park was approved. The amendment increased the online sports betting tax rate to 24%, up from the original 20% included in the document.
Sports Betting Bill Details
Wiedower’s legislation sets the state sports betting tax rate at 24% and earmarks funds for the Georgia Lottery HOPE Scholarship program and pre-kindergarten services.
However, the legislation notes that 15% of the first $150 million in sports betting tax revenues in a fiscal year must be used to prevent individuals from experiencing, and provide assistance to individuals who experience, addiction or other problems relating to betting or gambling.
This could result in a maximum funding of $22.5 million for problem gaming services in the state.
Applicants for an online sports betting license would have to pay a nonrefundable application fee of $100,000. If awarded a license, the full fee is set at $1 million.
The bill will allow for 16 total online sports betting licenses. The Georgia Lottery Corporation will automatically be awarded a license, and the remaining 15 will be earmarked as such:
- Five to Georgia professional sports teams
- One for an Augusta National Golf Course
- One for the PGA Tour
- One for Atlanta Motor Speedway
- Seven to be awarded by a public bidding process to online sports betting operators
As the legislative session in Georgia nears its end, time is running out for the state to pass sports betting legislation. The bill, which would legalize online sports betting in the state, has been making its way through the legislative process but faces a tight deadline for approval.
Supporters of the bill argue that legalizing sports betting would bring in much-needed revenue for the state, as well as create jobs and boost the economy. They point to the success of other states that have already legalized sports betting, such as New Jersey and Pennsylvania, which have seen significant increases in tax revenue and economic growth.
Opponents of the bill, however, have raised concerns about the potential negative impacts of legalizing sports betting, such as increased problem gambling and addiction. They also argue that the bill does not do enough to address these issues and protect vulnerable populations.
Despite these concerns, the bill has been gaining momentum in recent weeks, with several key committees giving their approval. However, time is running out for the bill to be passed before the legislative session ends. If the bill is not passed by the deadline, it will have to wait until the next legislative session to be considered again.
In conclusion, the clock is ticking for Georgia sports betting legislation as it advances through the legislative process. Supporters and opponents alike are watching closely as the deadline approaches, eager to see whether or not the bill will become law. Only time will tell if Georgia will join the growing number of states that have legalized sports betting.
