Oklahoma Governor: Sports Betting Could Be Coming Soon
Gov. Kevin Stitt announced his plans to bring sports betting to Oklahoma on Thursday. The aim is to see retail sportsbooks and the best sports betting sites live in the Sooner State. Oklahoma currently has no regulated sports betting and would need a significant gambling overhaul to bring a market to fruition. With the backing from Gov. Stitt, this could become a reality.
Oklahoma Sports Betting Plans
The plan will be to bring in-person betting to federally recognized tribal facilities. Local tribes will see brick-and-mortar sportsbooks in their casinos. Bettors will be able to wager on sports physically in these locations.
Online betting will be available on mobile devices through this plan. Licensed sportsbooks will be able to offer odds within the state. Mobile operators would be taxed at a 20% rate and pay a $500,000 licensing fee and a $100,000 annual fee. Retail operators will be taxed at a 15% rate.
“I promised Oklahomans if we pursued sports betting, we would do it right— and this plan does just that,” said Governor Stitt. “Thirty-five states have already legalized sports betting, and it’ll be a great revenue stream for the state. Tribes will be able to add it onto their existing infrastructure, and Oklahomans can access it right from their phone.”
Additionally, player-prop betting on collegiate athletes will be prohibited at local sportsbooks. College sports prop betting will also be prohibited. Gov. Stitt is working directly with the NCAA to determine how to handle regulations. Stitt is also working with athletic conferences in Oklahoma.
Will Sports Betting Launch?
This isn’t the first time Gov. Stitt has attempted to bring sports betting to the Sooner State. Stitt negotiated tribal contracts with local tribes but was shot down by the federal government in 2020. In 2022, two sports betting bills, SB 1821 and HB 3008, failed to pass.
In 2023, lawmakers pushed HB 1027. This measure has some advancement earlier in the year but little advancement since its Senate reading in March.
With the history of failed sports betting efforts, it is understandable why many would think it is unlikely that this effort is any different from previous ones. However, with the growing popularity of sports betting, especially in neighboring markets, Oklahoma is in the best position to change things.