May The First Georgia Sports activities Betting Invoice Of 2021 Lastly Make A Change?
The latest attempt to legalize sports betting Georgia of Rep. Ron Stephens could prove that less is more when it comes to legalizing gambling.
Stephens and five other co-sponsors have registered HB 86who would legalize sports betting through the Georgia Lottery.
Stephens tried to legalize sports betting last year HR 378but it could have been a bit ambitious. The referendum called for the creation of a gambling commission and the approval of all gambling that the commission could oversee.
This attempt, and another Stephens called his “Ave Maria“With GA sports betting towards the end of the last session, both failed. A source involved in the process expressed its confidence to LSR that the bill had a better chance than last year
Georgia sports betting bill details
HB 86 is a simple sports betting bill that would be legalized six Online sports betting with remote registration.
The lottery could license fewer than six if there weren’t enough applicants, although this shouldn’t be a problem. Outside Tennessee In northern Georgia, the southern states have largely been excluded from the wave of sports betting legalization.
This means that legal online sports betting in Georgia could draw traffic from the other border states of Georgia Alabama, South carolina and the most important, Florida.
The invoice taxes sports betting income 16%. Sports betting providers would also pay $ 900,000 annually to obtain his license according to a $ 50,000 Registration fee.
Problem gambling proposal, but no funding
The bill addresses the need for problematic gambling services in the state, but it may not go far enough.
Georgia Behavioral Health and Developmental Disorders Department would work with local and national problem gambling organizations. The department would “set up prevention initiatives to reduce the number of people with problem gambling or a gambling disorder”.
There is one problem, however: there is no funding for such a program in the bill. All lottery tax revenue goes into education in Georgia, and sports betting would be no exception:
All taxes levied under this section of the Code will be distributed by the Company to the General Treasury Fund for payment into the Education Lottery Account set up under Section 50-27-13 of the Code.
Leagues also get a piece of GA sports betting
The major US sports leagues had their lobbyists in all states busy getting a piece of the sports betting pie. Based on that calculation, it looks like Georgia is no different.
Sports betting would be required to use HB 86 official league dates Place in-play bets. There is another interesting nugget for the leagues:
Each sports association on whose sports event the company has approved bets can also enter into trade agreements with sports betting providers or other institutions which provide that this sports association participates in the amount staked from sports betting on sports events of such sports association. A sports association is not required to obtain a license or other approval from the company to enter into such trade agreements.
Why sports betting would willingly choose to give the leagues one Integrity fee it’s not clear. In any case, it’s optional.
It is worth noting that all four Georgian professional sports teams called for the establishment of legal sports betting last year Georgia Professional Sports Integrity Alliance.