Georgia Has Sports Betting On Its Mind

Will they, won’t they? Georgia has sports betting on its mind; those who support the legalisation of sports betting agree the amendments to the constitution will not be a walkover.

Georgia has something on its mind, and the next few weeks will be critical. This week is the start of hearings on gambling and sports betting bills. Rep. Marcus Wiedower’s bill would put gambling under the scope of the Georgia Lottery and award 16 licenses to operate gambling services with regulations to prevent minors or those with gambling problems from accessing them.

Former Supreme Court Chief Justice for the state, Harold Melton, has opined that a change to allow gambling is unnecessary. Meanwhile, Sen. Bill Cowsert’s bill will set up the Georgia Gaming Corporation (GGC) with seven members appointed by the House speaker, governor, and lieutenant governor to oversee gambling regulation and grant licenses.

Increased Revenue from Sports Betting

This plan sets the tax rate for most bets at 20% of adjusted gross income, but riskier wagers would be taxed higher at 25%. Going through a constitutional amendment is more complex but has some advantages. Sen. Billy Hickman has filed a gambling bill that does not require a constitutional amendment and allows gambling on horse races at up to three tracks around the state.

State Professional Teams Increase the Chances of Winning

If agreed, five licenses will go to Georgia’s professional teams: the Atlanta Braves, Hawks, Falcons and Atlanta United, who will team up with an online partner to manage the licenses and promote the sports betting operations.

The teams will hugely benefit from a boost in income; each licence holder would pay taxes equal to 15% of their adjusted gross income, which the state would then be required to use for education per the state constitution.

If the committee passes the bill, golf lovers will benefit as The Master’s Tournament, the Professional Golf Association, and NASCAR will receive three additional licences; other sports organisations will compete for the remaining seven.

Close but Not Close Enough

The bill is not a given, but it’s close. In a statewide survey, 11.8% of prospective voters indicated they were undecided, with 45.6% in favour of legalising professional sports betting online and 42.6% opposed.