Georgia Sports Betting Bill Taking Shape
A new proposal for legal online sports betting for the state of Georgia will look to be more successful than a bid that was made in 2022.
Following the submission of paperwork outlining the various elements of what would be involved, there have been suggestions that some of this could mirror that of Ohio, which recently launched online sports betting in the state.
The SB 57 bill would see 10 sponsors, which would then look to authorise 18 different operators to launch in the state, should the bill then be fully approved. Indeed, nine of these have been set aside to partner with sports franchises in the state.
Which Sports Franchises Would Be Involved?
While, as yet, there is no official confirmation of partnerships, there are five different sports franchises that have been identified as potential partners across baseball, football, basketball and soccer.
These include the Atlanta Braves, Atlanta Dream, Atlanta Falcons, Atlanta FC and Atlanta Hawks, all of which will hope to see their profiles raised via possible lucrative partnerships with online gambling operators, while there is also the potential for media deals further down the line.
Meanwhile, four other franchises have been set aside, that include possible partnerships with the PGA Tour, Michelin Raceway, Atlanta Motor Speedway and the prestigious Augusta National golf tournament.
The application fee for each potential operator would be $100,000, in addition to an annual license cost of $1 million, which would see substantial revenue generated for the state. As a result, each license has been proposed to last for 20 years, with a modest 20 per cent tax rate for each operator.
Substantial Boost to the State’s Economy
Georgia is a state that saw a significant decline in revenue during the global pandemic and as a result, should legislation be passed to allow online sports betting, it would be a substantial boost for the economy.
While the city of Atlanta is a major hub in the southern US and appears to perform well, other areas of the state do not generally have as much industry.
The Georgia Gaming Corporation (GGC), which was formed recently, is hopeful that with a sensible plan and with safeguards in place, that it can strike the right balance - certainly potential franchise link-ups could help it to gain momentum.
Ohio has recently benefited from a similar model, with betting kiosks also being available at establishments that serve liquor. Again though, this will require a certain amount of careful planning to be effective.