Georgia Sports Betting Bill Passes In Senate, Now Heads To House

The Georgia Senate has voted on a sports betting bill today. While the measure advanced in the Senate, there was an amendment added that required sports betting to need a constitutional amendment. If the measure passes in the House, the issue will be on the November 2024 ballot for Georgia residents to vote. The fate of sports betting in the Peach State could be in the hands of its residents.

Georgia Sports Betting Advancements Made

The measure, SB 386 was approved via a 35-15 vote by the GA Senate. During the deliberation process, two amendments were presented. The amendment that passed called for a constitutional amendment to be required for sports betting in Georgia.

The second amendment, which was voted down, prohibited athletes and officials from betting on sports in Georgia. Lawmakers deemed that athletes and officials are already barred from betting on sports, making the amendment redundant.

What The Sports Betting Market Would Look Like

Bill Sponsor Sen. Clint Dixon stated that an estimated $100 million in tax revenue is expected from betting. The measure places a 20% tax rate on adjusted gross revenue from operators. Additionally, initial licensing fees would be set at $1 million and then $100,000 annually. Up to 16 online sportsbook licenses would be available. This would grant plenty of licenses for the best sports betting sites to claim market share in GA.

Local pro teams, including the Atlanta Falcons and Atlanta Hawks, would be granted betting licenses. There will also be licenses available for the Augusta National Golf Course, the Atlanta Motor Speedway, and the Georgia Lottery. The Lottery Corporation would oversee the betting market.

While the bill passing in the Georgia Senate is a big win for sports betting, there are still steps before the market can launch. The measure now heads to the House, where it would need approval before advancing to the ballot. Once on the ballot, residents would have to vote in favor of sports betting. There are still hurdles to climb before a betting market in Georgia can come to fruition.

Georgia Sportsbooks By 2025?

Georgia sportsbooks could launch for residents in 2025 if things land a certain way. This would require the House to pass the measure and local residents to vote to approve betting. Following this, it will all be a matter of how fast lawmakers can approve sports betting applications. Georgia has seen bills die during the regulatory process in past sessions. Launching betting in the Peach State is still an uphill battle.