Kevin Stitt Proposes Legal Framework for Sports Betting in Oklahoma
LISTEN TO THIS ARTICLE:Kevin Stitt, the governor of Oklahoma, has unveiled proposals to introduce online and in-person sports betting within the state.
Oklahoma remains among the 15 states that have not yet introduced regulation for sports gambling. Stitt's suggestions, however, might pave the way for establishing a legal betting market in the region.
While these plans are still in their infancy, Stitt has shared potential frameworks for how the system might operate in Oklahoma. According to the plans, retail betting would be exclusive to federally recognized Indian tribes, adhering to an existing state-tribal gaming agreement. Stitt added that revenues from in-person betting would incur a 15% tax.
Higher Taxes for Online Operators
In regards to mobile betting, the state would grant licenses to operators. These licenses would come with an initial cost of $500,000, with an ongoing yearly fee of $100,000 for renewal.
Those holding mobile licenses would be allowed to take sports bets from the entire state and would face a higher tax burden than their retail counterparts, with a 20% levy on revenue.
I promised Oklahomans if we pursued sports betting, we would do it right – and this plan does just that. Some 35 states have already legalized sports betting and it’ll be a great revenue stream for the state. Tribes will be able to add it onto their existing infrastructure and Oklahomans can access it right from their phone.
Protections for Oklahoma’s College Sports
The proposal also includes measures to safeguard Oklahoma college sports by outlining restrictions on certain types of wagers. Prohibitions would apply to bets on the performances of college athletes, coaches, or referees, and prop bets on collegiate games would also be banned.
Stitt is seeking feedback from the National Collegiate Athletic Association and various athletic conferences before cementing these components of the proposal. Additionally, it is suggested that betting on player injuries should be forbidden.
The push for legalized sports betting in Oklahoma has been gathering pace, with earlier legislative efforts this year indicating interest. House Bill 1027, aimed at enabling tribes to incorporate sports betting into their gaming compacts, made it through the House in March but has not advanced in the Senate since late May.
Currently, 35 tribes are involved in some form of gambling operations in Oklahoma.
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