The proposed laws in Georgia that may legalize sports activities betting in The Peach State cleared its first hurdle Tuesday afternoon because it was permitted by a committee within the House.
The invoice, which is named the “Georgia Lottery Mobile Sports Wagering Integrity Act,” will now head to the House Rules Committee. If it passes there, it can go to the House flooring for a vote, then the Senate and finally to the governor’s desk.
Rep. Ron Stephens launched the invoice at the beginning of the 12 months. It was one in all three expanded playing payments he plans to file. He already filed his second, which might enable for brick-and-mortar casinos within the state, final week. The third, which has but to be filed, would legalize horse racing.
Stephens told a local Fox affiliate that he seems to be at sports activities betting similar to the one different type of authorized playing in Georgia.
“We believe that folks ought to just make it another lottery game,” stated Stephens.
If handed, the Georgia Lottery would oversee the brand new business, which might eradicate the necessity for an modification to the state structure. An modification can be wanted to legalize casinos.
The Lottery can be allowed to have six or extra distributors present sports activities betting to residents and people distributors must pay a $50,000 utility charge and a $900,000 annual licensing charge. Sportsbooks can be taxed at 14% on their adjusted gross earnings. The tax income can be used to fund instructional packages within the state.
Stephens estimates that on-line sports activities betting would generate about $100 million in annual tax income for these packages. If brick-and-mortar casinos got here to the state, then retail sports activities betting would possible observe.
Stephens additionally stated that he thought sports activities betting can be the best of the three payments to go. If it did go, Georgia would be part of Tennessee as the one two states within the nation with an online-only sports activities betting market.
