Georgia legislature to consider new mobile sports betting bill

News  /  Published 18 Jan 2021  / 

Georgia’s House of Representatives is to run the rule over a new bill that aims to legalize mobile sports betting in the state.

Sponsored by six Representatives, House Bill 86 seeks to amend Chapter 27 of Title 50 of the Official Code of Georgia by adding a section on sports betting.

Should the bill, also known as the Georgia Lottery Mobile Sports Wagering Integrity Act,  pass into law, the state Lottery Corporation would assume oversight of the market, including taking charge of issuing and managing licences.

At least six licences would be made available through HB86. Applicants would be required to pay a $50,000 non-refundable fee, then a $900,000 annual charge for the duration of the license.

Licensees would also be required to pay tax at a rate of 16% on adjusted gross sports wagering income. This would be payable on a monthly basis.

Tax income generated from legal sports betting in Georgia would go towards the HOPE educational scholarship initiative, as well as pre-school programs in the state.

Players would need to be at least 21 years old in order to place a legal sports bet in the state, while wagering would be permitted across all professional sporting competitions, including esports, but not collegiate events.

HB 86 includes some of the same proposals as HB 903, an existing bill that was featured in last year’s legislative session and was approved by the House, but did not progress through the Senate.

HB 903, which initially focused on traffic citations but was changed to include sports betting laws, included the same licensing fees, but a higher tax rate of 20% on adjusted gross sports wagering income.

 

Source: iGB North America