Georgia Sports Betting Could Take The Next Step In 2024

Georgia sports betting is starting to gain some momentum for 2024. Lawmakers in the state are currently working on getting sports betting on the ballot this November. The potential Georgia sports betting bill would allow for at least six online sportsbook apps as well as retail betting kiosks.

This news comes in a week that also saw Vermont launch sports wagering while North Carolina is preparing to roll out its sports wagering market.

Optimism Increasing For Georgia Sports Betting

2024 could be the year Georgia sports betting gets the green light. Representative Ron Stephens and Senator Bill Cowsert are looking to let Georgians vote on legal sports betting in November. Stephens and Cowsert have been focused on sports wagering, with Cowsert using information from the National Council of Legislators from Gaming States for betting legislation.

According to PlayUSA, Cowsert also recently advanced the Georgia sports betting bill SB172 through the Senate Regulated Industries and Utilities Committees. Last year saw numerous attempts at Georgia sports betting legislation fail, such as SR 140, which didn’t get the support from the Senate and lost on a 30-26 vote.

Additional Details On The Georgia Sports Betting Bill

SB172 will potentially allow for at least six online sportsbooks to expand into the state. In addition to betting operators like DraftKings and FanDuel, the bill would let the Georgia Lottery launch its very own sportsbook. Licenses for these mobile sportsbooks would cost $1 million each year. The lottery would also provide retail sports betting kiosks.

The proposed tax rate for Georgia sports betting would be unique. Standard bets would be taxed 20%, while in-game bets, parlay bets, and prop bets would be taxed 25%. College sports betting would be fully allowed with the sports wagering bill, which is excellent news for fans of the Georgia Bulldogs and Georgia Tech Yellow Jackets. However, player props won’t be available.

The bill would also allow for the creation of the Georgia Gaming Corp. Deposit limits would be set at $2,000 a month, although additional betting activity would require Georgia Gaming Corp approval.

There are currently no direct plans for betting revenue in the Peach State, although a constitutional amendment would help designate where the funds go. For example, 15% was set aside for gambling addiction treatment in a 2023 amendment. If an amendment isn’t added, the revenue will be added to the Georgia general fund.

Overall, PlayUSA had given Georgia a 40% chance of legalizing sports betting, noting general fund reserves already in place and political tensions amidst the Donald Trump trial.

Vermont Sports Betting Is Live, North Carolina Launching Soon

At midnight EST on January 11, 2024, Vermont sports betting officially launched. There are now three online sports betting apps to sign up for in the Green Mountain State: FanDuel Sportsbook, DraftKings Sportsbook, and Fanatics Sportsbook. However, since legislation allows for up to six mobile sports betting sites to launch, more betting operators should expand into the state soon.

North Carolina sports betting is coming as well, although there hasn’t been any official date revealed yet. While the state could have rolled out mobile sports betting as early as January 8, 2024, it’s looking more likely that sportsbooks will come to the Tar Heel State around March Madness, which tips off on March 19, 2024. The latest date that North Carolina can roll out its sports betting industry is June 14, 2024