Sports Betting Bill Being Considered in Georgia

Georgia Lawmakers Considering Sports Betting Bill

By Lisa Spencer Senior Editor Updated: 23 December 2023

Lisa Spencer Senior Editor

As a Senior Editor at Betting.US, Lisa Spencer is a valuable member of our expert team. With a Master’s degree in Applied Mathematics, Lisa is adept in gambling theory and analyzing odds. She contributes by writing online sportsbook reviews and finding competitive markets to help our readers make an informed choice.

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Potential $900 Million Annual Revenue

Senator Beach estimates the gambling expansion could generate up to $900 million in annual tax revenue for Georgia. Half of the funds would go towards freight and infrastructure projects, with the remaining money allocated to rural healthcare (20%), mental health and addiction services (20%), and historically Black colleges and universities (10%).

The bill would also allow state officials discretion to use gambling proceeds to attract major sporting events to Georgia, like the Super Bowl and Final Four.

Beach believes that legal wagering could significantly boost economic activity. He said:

From a job creation standpoint, if we would have three destination resort casinos and one pari-mutuel track or maybe two, we would create a lot of jobs.

Unlike previous failed bills to legalize Georgia sports betting, Beach’s legislation proposes allowing state voters to decide on a constitutional amendment permitting an expansion of gambling. If passed, the amendment would give authority over betting regulations and licensing to a gaming commission under the state lottery.

Other Bills Also Recently Introduced

In Georgia, the fate of sports betting is, and always has been, a hot topic. Recently, House Bill 380 (HB 380) was introduced, aiming to legalize sports betting in the state. This bill, filed by State Representative Marcus Wiedower, proposes two types of licenses: Type 1 for online sports betting businesses and Type 2 for in-person sports betting kiosks.

The bill has a proposed 15% tax on sports betting profits and sets application and annual fees for both types of licenses. The bill’s focus is more on online sports betting, although it includes provisions for brick-and-mortar establishments and Georgia sports teams.

Another bill, Senate Bill 57 (SB 57), seeks to create the Georgia Sports Betting Commission, which would regulate sports betting in the state. This bill would allow up to 18 mobile sports betting licenses, with half allocated to professional sports teams and the rest through competitive bidding. The bill also allows for retail sports betting kiosks. Taxation on adjusted sports wagering revenue is set at 20%, and the bill covers betting on a wide range of events, including college sports and esports.

Lawmakers Stress Economic Potential

Georgia’s legislative approach to sports betting is a pretty nuanced topic. Some lawmakers favor a constitutional amendment to allow voters to decide on sports betting, while others believe it can be overseen by the Georgia Lottery Corp., as sports betting is seen akin to a lottery game.

The economic potential of sports betting is significant, with proponents citing increased tax revenue for popular programs like the HOPE Scholarships and Pre-Kindergarten initiatives.

Lawmakers and stakeholders in Georgia emphasize the economic benefits of legalizing sports betting. They argue that it would generate significant tax revenue and drive fan engagement for the state’s professional sports teams. Additionally, there’s an acknowledgment of the need for consumer protection legislation to clamp down on black market betting. The legalization of sports betting is seen as a potential win for education investment in Georgia for many, but it remains to be seen as to whether voters will get behind the movement or not, this time around.