Things are looking peachy for Georgians who support the legalization of sports betting for a couple of reasons. Two separate proposals are on the table: one advocating for the legalization of sports betting, and another would also legalize it but add the prospect of casino gambling.
Let’s explore the key aspects of these bills and analyze their potential impact on the top-rated online sportsbooks.
Senate Scores Big
First things first. Georgia voters are now one step away from having the chance to decide the issue for themselves after Senators approved a change to the state constitution. The vote for Senate Resolution 579 wasn’t even close. It passed 41-12.
This is good news for people who want to bet on pro and college sports in Georgia. They have faced many obstacles in the Senate for years.
Many believe that since the resolution cleared the Senate, it paves the way for voters to decide in November if sports betting should be legal because the House is expected to follow suit. If the state House also approves the resolution by a two-thirds majority, the decision will be in the hands of the voters come November.
Another Proposal Includes Casinos
If for some reason that resolution fails, there is a plan B. Another proposal wants to let Georgia voters choose if they want sports betting and casinos in the state.
Sen. Carden Summers is the sponsor of Senate Resolution 538. He said that casinos and sports betting can bring more money and jobs to Georgia. He said that many Georgians go to casinos in other states and Georgia does not benefit from it.
Sports Betting Could Generate Millions for Schools
Sports betting in Georgia could generate as much as $100 million a year in tax money, and Georgia’s proposed legislation aims to impose a 20% tax on the proceeds.
Under Resolution 579, 80% of the taxes collected from sports betting would be earmarked for prekindergarten programs. Once these programs are fully funded, the money would then be redirected to college scholarships. 15% of the money would be allocated to help people struggling with gambling addiction. The remaining 5% would be used to create a fund aimed at attracting and supporting major sports events in Georgia.
The tax money generated under Resolution 538 would be used to help pay for roads, bridges and schools.
The proposal says that half of the money from casinos and sports betting would go to the Freight and Logistics fund. Another 20% would go to programs for young children. The remaining 30% would go to programs for mental health, gambling addiction, rural healthcare and Historically Black Colleges and Universities in Georgia.
Tax rates nationwide vary widely, ranging from 6.75% in Iowa to as high as 51% in states like Rhode Island and New York. So, Georgia’s tax rate would fall somewhere in the middle.
There’s Still Some Opposition to Contend With
Some people want to make sports gambling legal under the state lottery. They say they don’t need to change the state constitution for that.
However, state Sen. Bill Cowsert disagrees. He says voters should have a choice. He thinks Georgia voters did not agree to sports betting when they voted for the lottery in 1992.
Sen. Marty Harbin is also cautioning everyone to be wary of rushing into the adoption of sports betting because of its addictive nature and potential social repercussions.
“The people who vote for the constitutional amendment will not have the knowledge and information that you and I have,” Harbin told the Associated Press.
Sports Betting Advocates Now Hopeful in Georgia
According to Forbes, gambling on sports is now legal in 38 states (plus Puerto Rico and Washington, D.C.),
For the first time, there appears to be a clear desire within the Georgia state legislature to enact laws that would legalize gambling, including sports betting, in the Peach State.
We’ll continue to monitor the movement, but it looks like supporters have a reason for hope.
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