The South Carolina Senate has taken a significant step towards legalizing sports betting by introducing Senate Bill 444, a legislative proposal put forward by Senator Thomas Davis. The bill aims to amend current state gaming laws to permit regulated sports wagering under the supervision of a newly established commission.
If approved, SB 444 would create the South Carolina Sports Wagering Commission, tasked with overseeing the licensing, operations, and management of sports betting activities within the state. The commission, consisting of nine members appointed by key state officials, would be responsible for regulating the industry.
Under the proposed legislation, up to eight operators would be eligible to obtain licenses, each valid for a five-year period. To apply for a license, operators must submit a $100,000 application fee and a $1 million licensing fee upon approval. Additionally, applicants must demonstrate operational experience in at least five other regulated U.S. markets and provide references from relevant regulatory bodies.
Unlike some other sports betting bills, SB 444 does not require the use of official league data for betting purposes and does not address the regulation of daily fantasy sports. The bill suggests a 12.5% tax on adjusted gross revenue from sports wagering, with 82% of the revenue directed to the South Carolina Department of Revenue for allocation to the state’s General Fund.
Funds from the General Fund would be distributed to local governments on a per capita basis to support infrastructure projects such as transportation enhancements and public facility upgrades. The remaining funds would cover administrative costs associated with the commission’s duties.
This Senate bill complements an earlier initiative in the South Carolina House of Representatives, House Bill 3625, which shares similarities with SB 444 in terms of tax rates, licensing fees, and license duration. HB 3625, sponsored by Representative Chris Murphy, aligns with the broader efforts to legalize and regulate sports betting in the state.
The introduction of SB 444 underscores the growing momentum towards legalizing sports betting in South Carolina, reflecting a broader trend across the United States. If enacted, this legislation could open up new opportunities for operators and bring significant revenue streams to the state, while ensuring responsible and transparent sports wagering practices.
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