Oklahoma Could Legalise Sports Betting Next Week

Sports betting could become legal in Oklahoma by as early as next week.

That’s because on Tuesday it is due to come under the scrutiny of the state’s senate committee and, if passed, the 35 tribes currently operating in the state would be eligible to operate sportsbooks. This is in addition to their existing gaming activities, such as slot machines and casino games.

The Bill made it through the state’s Oklahoma House by a 2-1 majority. And, regardless of next week’s Senate’s findings, it will ultimately be scrutinised by a conference committee where final adjustments will be raked over. It would then make another passage through the state’s legislative procedures. At that point it would again have to be given approvalby both the House and Senate.

Tribes themselves however haven’t all regarded the potential passing of the Bill with open arms. Some operators are in favour, others aren’t, fearing that it may disturb the current amicable relationship between themselves and the state’s governors. In addition, some don’t necessarily want the competition from sportsbooks while others face geographic or cost implications.

When asked for a response, Matt Morgan, chair of the Oklahoma Indian Gaming Association (OIGA)didn’t expand on the matter, simply commenting: “OIGA looks forward to staying engaged as this legislation is taken up by the Senate.”

The proposed legislation was brought before the House by republican senator Ken Luttrell. His motive being to regulate the market rather than bring in revenue. Yet, on the subject of finance, it’s estimated that, if passed, the bill would result in state revenue from sports betting of around $9 million annually. Around 88 per cent of this would go towards education and help on gambling addiction under the auspices of the Education Reform Revolving Fund. The remaining eight per cent is to be added to the state’s general revenue fund.

Neighbouring states such as Kansas and Arkansas already allow sports betting.

Luttrell, who represents R-Ponca City said: “Right now, Oklahoma is missing out on a huge financial opportunity for both our state and our tribes.

“Oklahomans are traveling across state lines to participate in sports betting, and we’re losing those dollars. It makes economic sense to provide sports betting as an option.”

The Bill recommends a four per cent tax on the first $5 million made in a month by a sportsbook. It would then increase to five per cent for the next $5 million. Any betting revenue in excess of $10 million would incur a six per cent fee.