The Governor of Oklahoma, Kevin Stitt, is pushing to legalize online and in-person sports betting in the state of Oklahoma. Currently, Oklahoma is one of only 15 states that have not regulated sports wagering, and Stitt’s proposal could potentially open the door for a legal market in the state.

Stitt’s plan includes regulations for both retail and mobile betting. Retail betting would be limited to federally recognized Indian tribes, in accordance with a state-tribal gaming compact. Stitt has also proposed a 15% tax on in-person wagering revenue. For mobile betting, operators would need to obtain licenses, with an initial cost of $500,000 and an annual renewal charge of $100,000. These license holders would be able to accept sports bets from anywhere within the state, but they would be subject to a 20% tax rate on revenue.

Stitt emphasized that his plan aims to ensure that sports betting is done responsibly and in the best interest of Oklahomans. He also stated that it would be a great revenue stream for the state and that tribes could easily integrate it into their existing infrastructure.

However, the proposal also includes restrictions on prohibited wagers, particularly related to collegiate sports. Betting on the individual performance of student-athletes, coaches, or referees is not permitted, and prop bets on collegiate competitions are also prohibited. Stitt is seeking input from the NCAA and athletic conferences before finalizing these plans.

The push for legal sports betting comes after a bill earlier this year suggested that Oklahoma could be looking to legalize sports betting. House Bill 1027, introduced to the House of Representatives in February, aimed to allow tribes to add legal sports betting to their existing gaming compacts. Although it passed the House in mid-March, it did not progress further and has been stagnant since late May. Currently, 35 tribes offer some form of gambling in Oklahoma.

Overall, Stitt’s proposal for legalizing sports betting in Oklahoma has gained attention and could potentially open up new opportunities for the state in the future.

By admin