Georgia Considers Regulating Mobile Sports Betting

Senate Regulated Industries and Utilities Committee of the state of Georgia is considering a brand-new bill for regulation of mobile sports wagering in this state.

Georgia’s Senate has introduced Senate Bill 403 last week, in the presence of its author – Senator Burt Jones who was ed by Senators Brandon Beach, Ed Harbison, David Lucas and Jeff Mullis.

Bill Entirely Defined and Outlined

The bill would not only legalize sports betting in this state…

…but would see the Georgia Mobile Sports Wagering Integrity Commission instated to regulate the market within the Georgia Lottery Corporation.

The Commission’s duty would be to process license applications that will be cost operators $50,000, which is a non-refundable fee. There will also be annual renewal payment of $900,000 attached to it, to secure the licensing.

There will be a 10% tax attached on adjusted gross income for all license holders, which would need to be paid on a monthly basis, based on adjusted gross income from the previous month.

What About the Tax Revenue?

The bill also notes that lottery games tax revenue will be put to use of improving the educational programs and funding of pre-kindergarten.

State license-holders would need to use the official league data for offering live betting info and stats. This is one of the requirements as outlined in the Bill.

Some of the other measures include the minimum age limit of players to be 21. They will also need to be physically located in the state to place wagers.

The Result of October’s Testimonies

SB403 was introduced after last October’s presentations and testimony from industry stakeholders about sports betting in Georgia.

Established in April 2019, the Committee’s original purpose was to research the opportunities for regulated betting, gaming and horse racing in the state. They asked a number of official bodies, operators, suppliers, sport organizations and related bodies to share their views on sports betting industry in Georgia.

Senate Study Committee on Gaming and Pari-mutuel Wagering saw the likes of DraftKings and FanDuel all testify.

Georgia’s Professional Sports Integrity Alliance is ing the Senate Bill 403. This is a consortium formed by Atlanta Falcons, Atlanta Hawks and Atlanta United sports teams who are lobbying for retail wagering and mobile betting.

Source:

“Mobile sports betting bill heads to Georgia Senate Committee”, igbnorthamerica.com, February 24, 2020.