Several pieces of legislation that would have brought legal sports betting to Georgia have bit the dust.
On Monday, the Georgia Senate failed to pass Senate Resolution 140, a piece of legislation that would have worked with Senate Bill 172 to legalize sports betting in the Peach State. The Senate voted 30-26 on SB 140 — failing to receive the two-thirds majority vote that it needed.
The unfortunate news for sports betting in Georgia came on crossover day — the deadline for a bill to be passed through either of the state’s chambers to be signed into law. Bills that fail to pass through either chamber are no longer considered during the current legislative session.
SB 140 and SB 172 could have legalized sports betting in Georgia through a constitutional amendment. The constitutional amendment would have required two-thirds approval by the state’s House of Representatives and Senate before a ballot measure was presented to the public.
“I don’t get why it’s wrong to let the people vote on this issue,” said the bill’s chief sponsor Senator Bill Cowsert during a floor session. “We’re not all petty dictators up here.”
SR 140 and SB 172 proposed online betting sites pay a 25% tax on their adjusted gross incomes on parlay bets, prop bets, and live bets, while regular wagers had a 20% tax.
Not enough time
Georgia’s House of Representatives failed to discuss House Bill 380 — introduced on Feb. 13 — before Monday’s crossover deadline. HB 380 would have only legalized online wagering. The bill also called for a 20% tax rate and a tax on revenue generated from sportsbook promotions.
HB 380 – chief sponsored by Rep. Marcus Wiedower — had garnered support from the Metro Atlanta Chamber despite its failure to receive a vote before Monday’s deadline.
Yet another failed attempt
Last week, the Georgia Senate voted 37-19 against Senate Bill 57, which was introduced at the end of January. The now-failed bill proposed both online and retail betting with wagering regulated by the Georgia Lottery. SB 57 would have approved up to 18 online betting sites.
SB 57 required sports betting operators to pay a 20% tax rate with wagering regulated by the Georgia Lottery. The tax revenue from betting would have been allocated toward education.
The bill failed to receive enough votes from the Senate due to its inclusion of horse racing.
Legal sports betting may not be in Georgia’s immediate future, but the industry could create jobs and an additional revenue stream for the state.
Sports betting could create roughly 8,500 jobs in Georgia, per Senator Billy Hickman. It could also generate between $300 million and $400 million in annual revenue.
However, Georgia will have to wait until the next legislative session in 2024 to reconsider.
