Senate Bill 386 was filed last week to regulate online sports wagering in Georgia. It moved through the senate quickly and was approved by a vote of 35-15. The bill now progresses to the Georgia house of representatives for further discussion.
The key language in SB386 includes:
- Coverage of online sports wagering
- Players needing to be at least 21 and physically located inside Georgia
- Responsibility for regulating the market assumed by the Georgia Lottery Corporation
- Various license types available, with Type 1 being the primary license for online betting
- Operators required to pay application and renewal fees
- 16 Type 1 licenses available, with eight tethered to professional sports organizations
- A 20% tax rate applied to adjusted gross income from online sports betting in Georgia
- The bill becoming effective upon approval by the state’s governor
In addition to SB386, Senate Bill 172 has also been recommitted to the Georgia senate. In contrast to SB386, SB172 allows for both online and retail betting, with no limit on the number of licenses available. A specific tax rate has not been provided, but the bill outlines an annual privilege tax based on adjusted gross income derived from online sports betting. The bill is yet to clear the senate stage.
