Georgia state legislators are progressing toward providing a framework for legalized sports betting in Georgia. Louisiana, Tennessee, and Kentucky were the first three states in the SEC footprint to legalize sports gambling. Arkansas and Florida have limited in-person betting options.
Georgia Senate Bill 386 was introduced earlier this month and has bipartisan support, building on failed attempts to legalize sports betting in past sessions. The bill is called the “Georgia Lottery Game of Sports Betting Act.”
UGASports asked the UGA Athletic Association, specifically from athletic director Josh Brooks, for comment on the bill’s progress. UGAA declined to comment.
The Atlanta Braves expressed their support in a statement to the Atlanta Journal-Constitution.
What does the bill say?
The “Georgia Lottery Game of Sports Betting Act” would establish that sports gambling in the state is operated and regulated by The Georgia Lottery Corporation. Similar to the Georgia Lottery, profits from sports gambling would be used to fund Georgia’s HOPE Scholarship and Pre-K program.
Funding details
The bill would revise the minimum shortfall reserve requirements for the Georgia Lottery Corporation. Beginning in 2025, the minimum reserve will be calculated as half of the net proceeds from three previous years. This language accommodates for anticipated increases in the expected demand from sports bettors in Georgia.
Who could bet?
Bettors must be 21 years old or older. Bets must be placed in state, in-person or online.
What does the bill say about UGA and college athletics?
The bill forbids coaches and players from college, professional, or Olympic sports from applying for or holding a license to operate a sports betting entity. Similarly, UGA trustees or Board of Regents members cannot manage a sports betting license or place bets on college sports. Students and employees at colleges who have “access to material nonpublic information concerning a student athlete or sports team” are also barred from holding a sports betting license and betting on college sports if their information is deemed to be relevant to the event’s outcome.
Amateurs and Olympic athletes could not bet on sports in which they participate. This includes college athletes.
What are the ramifications for broken rules?
If someone violates the rules of who can wager on sports, the punishment is:
· First offense: misdemeanor charge, indefinite ban on sports betting, forfeit winnings, and fine between $500-$1,000.
· Second offense: misdemeanor charge, minimum fine of $5,000, and potential imprisonment for one to five months.
· Third offense: high and aggravated misdemeanor charge, minimum fine of $7,500, and minimum imprisonment of three months.
How much money will this bring in for the state of Georgia?
There is a 15 percent privilege tax on income licensed companies make on sports betting in Georgia. On top of this, there is a one-time $100,000 application fee to apply for a license. Licensed sports betting companies also pay an annual fee of $1 million.
Georgia Lt. Gov. Burt Jones, a four-year letterman for UGA football, told 11Alive News that sports betting would enable the state to "pick up, from some conservative estimates, between $80-$100 million."
Are we about to be barraged by gambling companies?
Upon passage, you will surely see increased advertising, including required education about sports gambling and resources to prevent or address gambling addictions. However, the bill would only approve the issuance of 16 sports betting licenses. Georgia professional sports teams, Atlanta Motor Speedway, and Augusta National Golf Club would be allowed to become license holders, leaving seven licenses available for national gambling companies to purchase.
What could I bet on?
Professional and college sports. The bill explicitly outlaws betting on high school sports and any other sports featuring athletes under 18 years old.
