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Old 02-04-2021, 10:28 AM
 
10,392 posts, read 11,481,750 times
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It looks sports betting may be one step closer to becoming legal in Georgia.

Legislation legalizing online sports betting in Georgia passed through a committee in the Georgia state House of Representatives Tuesday.

The Georgia House Economic Development & Tourism Committee voted 20-6 in favor of moving forward a bill supported by Atlanta’s four pro sports teams, including the MLB Braves, the NFL Falcons, the NBA Hawks and the MLS Atlanta United.

House Economic Development & Tourism Committee Chairman Ron Stephens, R-Savannah, chief sponsor of House Bill 86, said the teams need a way to lure fans back to the games after losing millions of dollars during the coronavirus pandemic.

Quote:
Under Stephens’ bill, at least six operators such as FanDuel or DraftKings would be licensed by the Georgia Lottery Corp. to run online sports books in Georgia, paying application fees of $50,000 and annual licensing fees of $900,000.

The companies would pay a tax of 14% of their adjusted gross revenues. The money would go toward education, including the popular HOPE Scholarships program.
Georgia House Committee Clears Sports Betting Bill (Georgia Public Broadcasting)
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Old 02-04-2021, 10:37 AM
 
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14% seems high in comparison to other states and may lead people to continue placing bets outside regulation.
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Old 02-04-2021, 11:34 AM
 
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Quote:
Originally Posted by seussie View Post
14% seems high in comparison to other states and may lead people to continue placing bets outside regulation.
Georgia’s proposed tax on sports betting actually appears to be kind of in the middle range of state taxes on sports betting... State taxes that range from only 2.3% in Oregon on the low end, to as high as 51% in New Hampshire and “everything minus expenses” in Montana.

Quote:
The majority of states have set their tax rates in the high single to low double digits. In 2019, the exception to this rule was New Hampshire, which decided on a monopoly grant to a single company. DraftKings will run New Hampshire’s legalized sports betting system and is required to remit 51 percent of gross revenue for online bets and 50 percent on in-person bets at casinos to the New Hampshire lottery fund. Delaware, Rhode Island, and Pennsylvania are the other states with uncommonly high rates. Delaware and Rhode Island created a “revenue sharing model” where revenue is shared among state, casinos, and operators with a very limited number of providers. Despite Pennsylvania’s high rate, that market has grown to be the third largest in the U.S after a slow start.
How High Are Sports Betting Taxes In Your State? - Sports Betting Excise Tax Rates, March 1 2020 (Tax Foundation map graphic)

Sports Betting Might Come to a State Near You (Tax Foundation)
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Old 02-04-2021, 11:55 AM
 
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Thanks for the update. Those must have changed since 2018.
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Old 02-10-2021, 07:50 AM
 
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Quote:
Legislation to allow online sports betting has already sailed through a state House vote. Now a tandem effort to expand gambling without a constitutional amendment is pending in the Senate.

Late Tuesday, a bipartisan group of Senate movers-and-shakers introduced a sports-betting measure. Among the names on the bill: Senate President Pro Tem Butch Miller; Jeff Mullis, the chair of the powerful Rules Committee; and two of the top Democrats in the chamber: Sens. Harold Jones of Augusta and Elena Parent of Atlanta.
The Jolt: Odds improving for sports betting in Georgia (Political Insider/Atlanta Journal-Constitution)
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Old 01-08-2023, 07:45 AM
 
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Sports betting in Georgia? Lawmakers to soon reintroduce bill to make it legal

Supporters say it would bring revenue to support higher education, while opponents worry it could lead to addiction and financial issues ..."

https://www.11alive.com/article/mone...c-ac4d38f0d813

11 Alive News
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Old 01-08-2023, 12:43 PM
 
Location: Macon, GA
1,388 posts, read 2,254,714 times
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Great. For the majority who will have a little fun, this is awesome.
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Old 01-09-2023, 05:40 PM
 
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Long DKNG!
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