Sports Betting in Oklahoma: The Long-Awaited Victory for Tribal Gaming
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Bills concerning sports betting in Oklahoma progress, one of them encompassing tribal exclusivity in the gambling industry
Tired of missing out on the betting action? Fear not, Oklahoma is one step closer to legalizing sports betting! On April 25, two sports wagering bills veered a significant step forward, bringing the state one step closer to seeing the dizzying realm of sports betting after years of unsuccessful attempts.
Enter our hero, Sen. Bill Coleman, ready to champion the cause! House Bill 1047 and House Bill 1101, the crusaders of sports betting, notched impressive wins with the Senate Business and Commerce Committee, reeling in votes of 8-1 and 6-3, respectively. The Senate Business and Commerce Committee is the first Senate committee to conquer the daunting task of advancing sports betting legislation.
Tribal Gaming: The Crown Jewel
House Bill 1047, the battlehorse of Republicans, highlights exclusive rights to sports betting for Oklahoma's Native American tribes, requiring payment of a modest 10% fee to the state on sports wagering revenue. This bill, exemplifying an extension of the Model Tribal Gaming Compact, awards exclusive control over certain Class III gaming activities, including slots and roulette, to the tribes.
With this bill in place, the tribes would be entitled to operate both physical and mobile sportsbooks.
Collaborating with the Thunder
Senate Bill 585, another key player in Oklahoma's sports betting arena, opens the door for a partnership between the Oklahoma City Thunder and a tribal-approved mobile sportsbook operator. This collaboration is not just a triumph for professional sports in Oklahoma, but it also heralds compromise between the interests of professional sports and tribal entities. Revenue generated from the Thunder's license will be distributed among tribes across the state's Model Tribal Gaming Compact.
The Numbers Game
The proposed 10% tax rate on sports betting (HB 1047) is in line with Governor Kevin Stitt's push for a "fair deal" in tribal-state revenue sharing. Senate Bill 585 projects an annual tax revenue of $20 million from online sports betting at the same rate.
The Road Ahead
Progress towards Oklahoma's legalized sports betting is certainly a sight to behold, but the race is far from over. With bills yet to reconcile key differences—particularly regarding regulatory oversight (Oklahoma Horse Racing Commission vs. tribal compacts)—let's keep our fingers crossed and our eyes glued on the finish line!
- The long-awaited legalization of sports betting in Oklahoma requires a 10% fee to be paid to the state on sports wagering revenue, as specified in House Bill 1047, which grants exclusive rights to sports betting for Oklahoma's Native American tribes.
- The partnership between the Oklahoma City Thunder and a tribal-approved mobile sportsbook operator, mentioned in Senate Bill 585, marks a significant step towards compromise between the interests of professional sports and tribal entities in Oklahoma.
- If Senate Bill 585 is passed, it is projected to generate an annual tax revenue of $20 million from online sports betting, aligning with Governor Kevin Stitt's push for a fair deal in tribal-state revenue sharing.
