Last updated on January 17th, 2021 at 12:17 am
The House of Representatives is considering a new Georgia mobile sports betting bill. Six representatives sponsored House Bill 86 to amend Chapter 27 of Title 50 of Georgia’s Official Code. The proposed legislation would add a section on sports betting.
The proposed Georgia Lottery Mobile Sports Wagering Integrity Act would make the Lottery Corporation supervise the market. It includes issuing and managing licenses. Also, HB 86 would provide six licenses.
Applicants would pay a $50,000 fee that’s non-refundable. Also, operators need to pay an annual fee of $900,000. Operators would require to pay tax at a rate of 16 percent. They need to pay taxes each month.
New Georgia Mobile Sports Betting Bill
According to sportsbook pay per head reports, sports betting revenue would fund the HOPE educational scholarship program and pre-school initiatives in Georgia. Players need to be at least 21 years old to wager on sports in the state. Also, players can wager on professional sports events but can’t bet on college sports events.
HB 86 has some proposals from the existing HB 903. The House approved the latter but didn’t proceed through the Senate. HB 903 focused on traffic citations, but lawmakers changed it to include sports betting. As per the proposed bill, sports betting has a tax rate of 20 percent. HB 86 copied the licensing fees of HB 903.
Based on pay per head sources, mobile betting would keep sports fans engaged while watching sports on TV. Representative Ron Stephens sponsored the bill. He said that sports betting tax revenues would help address its budget deficit.
According to sportsbook software solution providers, legalizing sports betting doesn’t require a constitutional amendment. However, the proposal faced opposition. Some critics said it is a lose-lose because the only winners are the operators. They said it would lead to problem gambling and economic decline.
