Georgia Sports Betting Taking Baby Steps

SB 172, a bill that would allow retail and mobile sports betting in the state of Georgia, was reintroduced by Georgia senator Bill Cowsert and was given preliminary approval in a committee. By a vote of 8 to 4, the bill was approved by the Senate Regulated Industries Committee. Eventually, it might be discussed on the Senate floor, where it was defeated in the previous legislative session.

Cowsert’s bill attempts to rekindle the Georgian gambling industry’s momentum. For a number of years, state lawmakers have debated the legalization of sports betting in Georgia, but they haven’t been able to agree on anything. Legislators argued vehemently last year over whether the state’s gaming expansion needed a constitutional amendment. Cowsert is one of the people who thinks the plan needs to be approved by two-thirds of the House and Senate in order to become law. Then, it would also require the approval of state voters. There are lawmakers that don’t think there needs to be a constitutional amendment. Cowsert stated, “The safe play is to do a constitutional amendment.”

Check out the latest sports betting odds at Caesars.

Retail and online sports betting would both be permitted under the measure. It gives professional sports teams another option to interact with fans on game day by allowing retail sportsbooks within such facilities. Under Cowsert’s measure, the number of sports betting applications that can launch in Georgia is unlimited, and a minimum of six licenses for online sports wagering are required. Online wagering license holders would have to pay an initial $100,000 application cost in addition to an annual $1 million fee. A 20 percent tax on adjusted gross revenue is proposed by Cowsert’s plan for all bets excluding parlays, prop bets, and live bets. There would be a 25% tax on those wagers.

Despite having written the law from scratch, Cowsert stated he is receptive to criticism. “This legislation is not a model from anywhere. It is a combination of numerous measures from various states throughout the nation as well as several iterations of gambling laws that have been proposed in Georgia over the previous five years.”

The Georgia Sports Betting Commission would be established under the bill to oversee sports betting. Three members would be nominated by the governor, two by the Senate president, and two by the House Speaker, for a total of seven members.

Although the Cowsert measure under discussion is a step in the right direction toward state legal sports betting, the legislation is still a long way from being completed. If the bill passes, lawmakers are anticipated to argue over where tax money should go. Additionally, a significant number of Georgia lawmakers continue to hold moral objections to the expansion of gambling in any form, including sports betting. The discussion of whether a constitutional change is necessary will continue into this year’s legislative session.

The current Georgian legislative session ends on March 28. It’s too early to say whether the legislature is more eager than in past years to pass a sports wagering measure, but that gives them fewer than three months to try to reach an agreement. During the 2024 legislative session, bills that are not enacted are not carried over to the 2025 legislative session.

Check out the latest sports betting odds at Caesars.