- Three Oklahoma sports betting bill have moved from committee
- The Senate Business and Insurance Committee passed three separate sports betting bills has week
- Oklahoma legislature has three avenues to pursue sports betting
An Oklahoma Senate Committee has moved three separate sports betting bills out of committee to provide state tribes, and potentially the Oklahoma Thunder, to offer online and retail sports betting in the Sooner State.
The Senate Business and Insurance Committee approved bills from Sen. Bill Coleman (R-10), Sen. Casey Murdock (R-27), and Dave Rader (R-39), which all seek to legalize Oklahoma sports betting in different ways.
Each of the bills allow recognized Oklahoma tribes to offer retail and online sports betting, while one also allows the NBA franchise Oklahoma City Thunder to offer sports betting as well.
Three Separate Bills to Legalize
Each of the approved bills legalizes Oklahoma sports betting in their own way.
Coleman’s bill, SB 585, will allow the 38 recognized Oklahoma tribes to offer retail sports betting at tribal casinos and online sports betting off tribal lands. His bill also allows the Oklahoma City Thunder to acquire an online sports betting license as well.
His legislation sets the state tax rate at 10% of net sportsbook revenues, which he estimates would see an additional $20 million annual in revenue for the state.
“As more states legalize sports betting, Oklahoma can’t afford to fall behind,” Coleman said in a release. “With more Native American tribes and tribal casinos than any other state and a passionate sports fanbase, Oklahoma is uniquely positioned to transform this industry into a thriving economic driver. Legalizing sports gaming will generate millions in new revenue and create new jobs across the state — it’s already happening in the 39 other states that have jumped on the bandwagon.”
Murdock’s bill, SB 164, authorizes the Oklahoma Lottery Commission to regulate sports betting and allow tribes and certain non-tribal entities to acquire “sports pools” licenses.
A sports pool is described in the legislation as “any in-person wagering and wagering conducted on a mobile device on the outcome of sporting events or other events, other than horse or other animal races.”
The bill sets the sports betting tax rate at 15% of adjusted gross revenues.
Finally, the committee also approved Rader’s bill, SB 125, which will allow Oklahoma Tribes to amend their gaming compacts to offer retail and online sports betting in the state. Rader pre-filed his bill in January before the legislative session began.
The bill provides complete sports betting control to the state tribes.
The legislation requires each tribe participating in sports betting to pay a fee to the state. The fee depends on the amount of adjusted gross sports betting revenues brought in by tribes during a calendar year.
The fees are as such:
- 5% of the first $5 million of monthly net win in a calendar year
- 6% of the next $5 million of adjusted gross revenues in a calendar year
- 7% of all subsequent adjusted gross revenues received in a calendar year
Is 2025 the Year for Oklahoma?
This is the third year in a row that the Oklahoma legislature will debate the merits of legalized sports betting.
The bills presented so far have kept sports betting control within the Oklahoma tribes, minus Coleman’s legislation that will allow the Thunder to participate as well.
It’s been a sticking point in negotiations, notably with Gov. Kevin Stitt (R) who had hoped to bring outside gaming companies into the state for online sports betting.
Stitt proposed a plan in 2023, and again in 2024, to legalize both retail and online sports betting in the state, but not give Oklahoma Tribes exclusive control over both. His plan gave tribes exclusive control over retail sports betting, which would have been taxed at a 15% rate, but allowed outside sports betting operators to control Oklahoma online sports betting. Operators would have paid an initial licensing fee of $500,000 and an annual licensing fee of $100,000 to offer sports betting in the state.
Online sports betting would have been taxed at a rate of 20%.
Coleman at least expressed optimism that the three bill will provide several solutions for state lawmakers to legalize sports betting this year.
“I’m optimistic that this is the year Oklahoma’s tribes, the Oklahoma City Thunder, the governor and other stakeholders will come together to find a compromise everyone can get behind.”
Several Oklahoma sports betting bills have recently been approved by a committee, signaling a potential shift in the state’s stance on gambling. The bills, which were passed by the Senate Appropriations Committee, aim to legalize sports betting in Oklahoma and regulate the industry.
One of the bills, Senate Bill 734, would allow for both in-person and online sports betting in the state. This would open up a new revenue stream for Oklahoma and provide an opportunity for sports fans to legally place bets on their favorite teams and events.
Another bill, Senate Bill 755, would establish a regulatory framework for sports betting in Oklahoma. This bill would create a licensing system for operators, set rules for how bets can be placed, and establish consumer protections to ensure fair play.
Supporters of the bills argue that legalizing sports betting would bring in much-needed revenue for the state, as well as create jobs and boost tourism. They also point to the fact that many Oklahomans are already participating in illegal sports betting, and that regulating the industry would help protect consumers.
Opponents of the bills, however, raise concerns about the potential negative impacts of legalizing sports betting, such as increased problem gambling and addiction. They also argue that the bills do not go far enough in addressing these issues and protecting vulnerable populations.
Overall, the approval of these sports betting bills by the Senate Appropriations Committee is a significant step towards legalizing sports betting in Oklahoma. The bills will now move on to the full Senate for further consideration, where they will likely face further debate and amendments before potentially becoming law.
