Georgia Sports Betting Bill Moves Forward in Senate Committee
The Georgia Senate Economic Development Committee has approved Senate Bill 57, which seeks to legalize sports betting in the state.
The prospect of legalized sports betting in Georgia moved one step closer to reality with the Senate Economic Development Committee passing Senate Bill 57, also known as the Georgia Sports Betting Integrity Act, by eight votes to one. The bill, sponsored by Senator Billy Hickman, seeks to allow sports wagering both online and in person at kiosks, including those placed inside various businesses, such as sports venues.
The legislation would also authorize three racing tracks to offer betting on horse racing. Senator Hickman believes that sports betting would be considered a lottery game, thereby not requiring a constitutional amendment to legalize it. The activity would be overseen by the Georgia Lottery Corp, which was approved by Georgia voters in 1992.
According to the proposed legislation, 20% of the adjusted gross income derived from sports betting would go to the Georgia Lottery Corp to benefit education. Senator Hickman estimates that legalizing sports betting could generate between $300m to $400m annually for the state, injecting $1bn annually into Georgia's economy, and creating more than 8,500 jobs.
The bill will now proceed to the Rules Committee, which will schedule a vote for the full Senate. If the bill passes, it will require only a simple majority in the state House and Senate to become law.
The passage of the Georgia Sports Betting Integrity Act could provide a significant boost to the state's economy, as sports betting continues to gain popularity across the country. With many neighboring states already allowing sports betting, Georgia is looking to capitalize on the trend and create a new source of revenue for education and job creation.
While some concerns have been raised about the potential for problem gambling and addiction, supporters of the bill argue that legalizing sports betting would help bring the activity out of the shadows and provide greater consumer protections.
Overall, the passage of Senate Bill 57 is a positive development for the sports betting industry and could pave the way for other states to follow suit. As the push for legalized sports betting continues, it will be interesting to see how Georgia's proposed legislation fares in the coming months.