Oklahoma sports betting bills move forward
HB 1047 and HB 1011 have passed the House Subcommittee on Appropriations and Budget Select Agencies.
US.- The Oklahoma House Subcommittee on Appropriations and Budget Select Agencies have passed two bills that aim to legalise sports betting in the state. HB 1047 and HB 1011 will now go before the House Appropriations and Budget Committee.
Representative Ken Luttrell is sponsoring both bills. HB 1047 would authorise sports betting and tether sportsbook operators to Native American tribes that have entered into gaming compacts with the state. The initial version proposed a 10 per cent tax rate for tribes offering sports betting.
The Oklahoma Horse Racing Commission is responsible for regulating non-tribal gaming, but tribal sportsbooks would operate under their own internal regulatory frameworks for sports betting.
Of the revenue provided to the state, $25,000 per month will be allocated to gambling addiction treatment and education, while 88 per cent of the state’s tax revenue from sports betting will go to the Education Reform Revolving Fund and 12 per cent to the General Revenue Fund.
If signed into law, sports betting would be legal for tribal operators on November 1, 2025. HB 1101 lays the groundwork for a voter referendum if HB 1047 does not pass. Earlier this year, senator Dave Rader introduced SB 125, which would legalise retail and statewide digital betting.
