- Legal sports betting is a billion-dollar industry and Georgia could rake in millions in revenue if they legalize the hobby.
- GA SB 403 would make gambling on sports legal in the Peach State through internet and mobile platforms.
- Both residents and professional leagues within the state are in favor of legalizing sports betting.
ATLANTA – The topic of legal sports betting in Georgia has been prevalent for the past two weeks among professional and collegiate teams as well as the Senate alike.
Bill GA SB 403 was filed on February 20 which would legalize mobile sports betting in the Peach State. The bill’s sponsor, Senate member Burt Jones (R-Jackson) believes that gambling on sporting events is happening every day in Georgia so the market might as well be a regulated one.
“It’s very easy to regulate, very easy to put the parameters in place, in the area and you could easily collect revenue dollars from it,” said Jones.
What All The Talk Is About
Georgia, more specifically the city of Atlanta is home to a number of great professional organizations. The state also has top college athletic programs like the Georgia Bulldogs football team. Executives from various franchises in the Peach State are all advocating for the legalization of sports betting.
In fact, the professional teams are so on board with the idea of legalizing gambling on sporting events that they have formed the Georgia Professional Integrity Alliance (GPSIA). Representatives from the Atlanta Falcons, the Atlanta Braves, the Atlanta Hawks, and Atlanta United FC make up the Alliance. The group’s main purpose is to speak out for making sports betting a legal pastime.
“A new state law to legalize mobile and online professional sports wagering, subject to strict regulatory requirements and technological safeguards, will bring needed revenue to Georgia and will offer safeguards to protect the integrity of professional sports, disinfecting a $1.5 billion illegal wagering industry in our state,” said the GPSIA in a statement.
What The Bill Brings To The Table
Bill GA SB 403 would make mobile and internet wagers on sports matchups legal for both professional and college teams in Georgia. Horse racing is not included within this bill. All revenue would go toward funding the education system in the state.
A tax rate of 20% on all revenue generated from the sports gambling market is what has been listed in GA SB 403. This could lead to potential profits in the millions for the education system of Georgia. The legal age to be able to use these sports betting platforms is set at 21 years old.
The legislative session ends on March 27 in the state. The issue of making sports betting legal by way of GA SB 403 needs to be dealt with quickly if Georgia sports betting wants to see legalization in 2020.
With 57% of Georgians in favor of legal gambling on sporting events and the professional teams having formed an Alliance for the matter, all that’s left is the decision of lawmakers.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.