Georgia Sports Betting Bill Returns to Senate

In an exciting development for sports betting enthusiasts in Georgia, Senate Bill 172 has resurfaced in the state's legislative agenda. Proposed by State Senator Bill Cowsert in February of the previous year, this bill is making a comeback after being temporarily shelved in August.

The core objectives of SB 172 remain largely unchanged from the previous version. The bill primarily focuses on essential matters like license fees and taxation, aiming to create a regulated framework for sports betting in Georgia.

SB 172 introduces various license types, each subject to different fees. The issuance of these licenses would be overseen by the Georgia Sports Betting Commission. Among them, a type one sports betting license, enabling online sports betting, carries an application fee of $100,000 and an annual fee of $1.0 million.

For physical betting, a type two sports betting retail license is available, with an application fee of $500 and an annual renewal cost of $1,000. Additionally, a type two sports betting distributor license covers the supply of self-service betting terminals, while a type two sports betting platform license allows retail sports betting on behalf of licensees.

The bill does not impose a limit on the number of licenses available for operators. However, the Commission will issue a minimum of six type one licenses and five type two permits.

While specific tax rates are yet to be determined, all licensees will be required to pay taxes. The bill outlines that an annual privilege tax will be imposed on adjusted gross income derived from online sports betting, consisting of 25% of adjusted gross income from specific bets and 20% from others. Type one sports betting licensees will be required to make monthly payments.

The fate of SB 172 now rests in the hands of Georgia's Senate, as they deliberate on the future of sports betting in the state.