New Bill Brings Hope For Georgia Sports Betting Legalization Effort
A bill to legalize Georgia sports betting, SB 386, was filed Wednesday, and the legislative effort has the potential to gain widespread support.
Unlike SB 172, which was filed earlier this season, SB 386 wouldn’t require a constitutional amendment to legalize sports wagering in the state. Instead, the bill would make sports betting a lottery game. The debate over the need for a constitutional amendment led to bills failing to pass in 2023, but SB 386 does have key legislative support.
The bill was co-sponsored by several key legislators, including Sen. Gloria Butler, who is the Senate’s Minority Leader. Atlanta Braves President and CEO Derek Schiller told The Atlanta Journal-Constitution that he supports the bill.
Having outspoken support from key legislators and professional sports franchises could prove beneficial for SB 386’s chances of becoming law. The bill still has a long way to go before becoming law, as it hasn’t been discussed in legislative committees or on the Senate floor yet.
Under the bill, there would be a maximum of 16 mobile sports betting operator licenses available. It’s likely several major betting apps, such as BetMGM, Caesars Sportsbook, DraftKings, ESPN BET, Fanatics Sportsbook, and FanDuel would make an effort to enter Georgia’s sports betting market if the bill becomes law.
Professional sports franchises and venues, including the Atlanta Falcons, Atlanta Braves, Atlanta Hawks, Atlanta FC, WNBA Atlanta Dream, Augusta National, the PGA Tour, and Atlanta Motor Speedway, all appear as if they would be eligible to apply for licenses under the bill. The Georgia Lottery would also be eligible to apply, and there would be an additional seven standalone operator licenses that would be awarded through an open application process.
Operators would pay a 15% tax on adjusted gross income, and they’d pay a $100,000 application fee in addition to an annual renewal fee of $1 million.
Tax revenue generated by sports betting would benefit the state’s education system, including georgia’s HOPE Scholarship.
