With less than a month left in the 2024 session of the Georgia General Assembly, sports betting is still on the table. Members of the House Higher Education Committee heard testimony on SB 386 Tuesday – a committee workday – which would effectively legalize online sports betting for 16 license holders in the state if approved by Georgia voters in the general election.
No committee vote was taken on SB 386, by state Sen. Clint Dixon, R-Gwinnett, and it could be heard again today in committee. Chairman Chuck Martin, R- Alpharetta, did not say when he planned to have a vote on the bill.
Dixon said he was open to changes to the bill which would currently sets the sports betting tax rate at 20 percent of adjusted gross revenue. One recommendation would up this to 25 percent as was included in last year’s House Bill 380 that would have legalized sports betting. The legislation would account for a total of 16 online sports betting licenses, with seven open for award and the other nine being tethered as follows:
● Five for Georgia professional sports teams (Atlanta Hawks, Atlanta Falcons, Atlanta Braves, Atlanta United FC, and Atlanta Dream)
● One for Augusta National Golf Course
● One for the PGA Tour
● One for Atlanta Motor Speedway
● One for the Georgia Lottery Corporation
Under this bill, licenses would cost $1 million annually to renew and applicants would have to pay a $100,000 application fee. It would allow for bets on college sports.
Proceeds would benefit the HOPE Scholarship, the Zell Miller Scholarship and Pre-K programs. Funding would also be designated for education for gaming, including information on the dangers of betting.
Dixon said he would be open to an amendment that included daily fantasy sports language, as recommended by at least one lawmaker, and Stuart Wilkinson, government affairs specialist for the Georgia-based PrizePicks.
SB 386 originally began without a Constitutional Amendment, but was amended on the Senate floor to…
Read the full article here
