Oklahoma makes another attempt to legalise sports betting

Oklahoma lawmakers are set to renew the push for legal sports betting in 2025.

US.- Oklahoma is seeking to become the next state to legalise sports betting in 2025. In December, state senator Dave Rader pre-filed SB 125 ahead of the start of the 2025 legislative session which gets underway in early February. The proposed bill would amend the state’s Model Tribal Gaming Compact to allow tribes to enter compacts to offer retail and online sports betting.

The proposal establishes a progressive tax structure based on annual net revenues from sports betting. The bill would tax sports betting at 5 per cent of the first $5m of annual net revenue, 6 per cent of the next $5m in revenue and 7 per cent of any revenue above $10m. Licensed tribes would be entitled to keep an amount equal to their state payments from sports betting. As Oklahoma tribes hold gambling exclusivity in the state, the bill would require the consent of at least four of them.

Revenue generated from these taxes would be allocated 88 per cent to education, with the remaining 12 per cent going into the state’s general fund. A small percentage would be reserved for programmes addressing compulsive gambling. Sports wagering would be regulated by the Oklahoma Horse Racing Commission. It’s expected that other sports betting measures could be introduced in 2025.