Georgia’s House of Representatives failed to vote on either sports betting bill The next chance to pass a similar bill in Georgia will be in 2023 Georgia’s Pro Sports Teams want to “take (sports betting) out of the shadows.”
Play Fantasy Sports Here!
Georgia’s House of Representatives failed to vote on either the Sports Betting Bill
Georgia bettors were aware that chances of getting legal sports betting through their states legislatures was slim.
As we reported, Georgia’s congress had little time to debate the two upgraded bills being considered – SB 142, which would legalize online and retail sports betting, and SR 135, which would allow residents to vote this year on a constitutional amendment to legalize sports betting.
That legislation would have established a 20% tax rate plus a $100,000 application fee and a $1 million license fee to operate in Georgia, so lawmakers have essentially just said no to all that potential revenue, funds that were earmarked for Hope Scholarships, and financial aid.
Peach State gambling enthusiasts might need to wait a few more years before their beloved pastime is legalized.
The Next Chance to Pass a Similar Bill in Georgia Will be in 2023
The Georgia legislature’s 2022 session wrapped up on April 4 and they will not meet again until next year, so that means that even in the best possible scenario where sports betting legislation gets passed and signed into law, a legal market won’t be in place until 2024 at the earliest.
As other states have discovered, setting up and testing a new market for sports betting takes time. Outside operators must also be involved in coordinating their sportsbooks with the platforms Georgia will implement.
Over thirty states have launched legal sports betting markets. They have also been able to take advantage of the tax revenue streams that have been generated. With North Carolina and Tennessee being the two leading examples, bettors in northern Georgia are eager to drive.
The moral objection to this issue is that it would encourage more gambling addiction. However, this stance neglects to take into account the fact that the activity takes place regardless of the state’s black markets.
Georgia’s Pro Sports Teams Want to “take (Sports Betting) out of the shadows”
Opponents of legalizing and regulating sports betting continue to stall the issue in Georgia by delaying and eventually avoiding a vote on those bills in either the House or Senate during the 2022 session.
In the interim, the Empire State of the South will keep the money flowing to unregulated online sportsbooks and local betting companies. This means that millions of dollars won’t be used for Georgian residents.
This reality is not lost on industry insiders in Georgia like Atlanta Braves CEO Derek Schiller, who recently told the press:
It’s time that we take it out of the shadows, regulate it, and that Georgia benefits from it in the form of tax dollars.
Sports gambling is happening in Georgia whether it’s made legal or not, so lawmakers must decide if regulating and taxing that existing black market is worth the downsides that some opponents fear.
Keep checking back to see the most recent news and updates about this story.