Legal Sports Betting to Oklahoma Laws & Regulations

Oklahoma Governor Outlines Plans to Legalize Sports Betting

By Lisa Spencer Senior Editor Updated: 18 November 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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According to recent reports, there could be big changes coming to Oklahoma as a result of sports betting plans from the state governor. In a move to modernize gambling in Oklahoma, Governor Kevin Stitt has announced a comprehensive plan to bring mobile and retail sports betting to the state.

This initiative aims to capitalize on the growing national trend of legalizing sports betting by allowing Oklahomans to place sports wagers both in person and via digital platforms.

Under the proposed sports betting framework, sports enthusiasts will be able to visit physical locations operated by federally recognized tribes to place their bets. The governor’s plan emphasizes the importance of protecting tribal interests and the economic benefits that the establishments bring to the state.

In addition, the plan also covers digital sports betting, with provisions for mobile betting through state-licensed sportsbooks. This type of betting would be accessible state-wide under the proposals, giving Oklahomans the convenience of placing bets from their mobile devices.

Generating Income for the State

In a recent press release, Governor Stitt expressed his commitment to ensuring that the introduction of sports betting is conducted responsibly. He said:

I promised Oklahomans if we pursued sports betting, we would do it right— and this plan does just that. Thirty-five states have already legalized sports betting, and it’ll be a great revenue stream for the state.

Stitt added that tribes would be able to add it to their existing infrastructure and that sports fans within the state would be able to access it right from their digital devices.

Protection for Student Athletes

One of the key aspects of the proposal is the protection it offers to student-athletes. The plan would prohibit bets on individual performances of student-athletes, as well as prop betting on these performances. This safeguard extends to coaches and other areas of college sports, including player injuries and umpires.

Governor Stitt expressed an eagerness to collaborate with athletic conferences and the NCAA to establish regulations that will protect the industry and the athletes.

The proposed mobile betting system will be overseen by organizations sanctioned by the state and taxed at a rate of 20%. An initial licensing fee of $500,000 is required for participants, along with an annual renewal fee of $100,000.

For retail wagering at physical locations, the governor’s plan proposes updates to the tribal gaming compacts. These would allow federally recognized tribes to manage sports betting, subject to a 15% tax rate, with bets being placed in person only.

The plan outlined by the state governor reflects Oklahoma’s eagerness to join the many states that have already legalized sports betting. With careful regulation and the potential for substantial revenue generation, Governor Stitt’s plan could result in an exciting form of entertainment in Oklahoma, while also maintaining the integrity of sports and protecting vulnerable parties.

The news will be welcomed by sports fans across the state, as it will enable them to enjoy the convenience of digital sports betting and the thrill of in-person betting depending on their preferences.