US states are enjoying a new source of state revenue in the form of sports betting. The fees for licensing, together with the tax from revenues, generates millions each year. Many a pay per head bookie will tell you of the growth in the sports betting market in the US. And to earn more in state revenue, Georgia attempts to legalize sports betting.
Of course, Georgia will be quite a challenge, considering that the Peach state is quite religious. But efforts to gauge interest, such as surveys, show an interest in gambling. But religious opinion is not the only factor. Aside from passing a bill unto law, residents must first vote to chance the state constitution for this.
Georgia Attempts to Legalize Sports Betting
Senator Burt Jones disagrees, as his bill already proposes to rewrite state statutes to allow sports betting. Senate Bill 403 will allow for a faster legalization of sports betting. This will allow for the state to earn from what could be a billion-dollar market in Georgia.
A lot of people currently venture into using bookie software to create their own sportsbooks and earn from becoming a bookie. And this is a practice that continues to grow, as the US sports betting market grows. The state wishes to earn from this, as well, as they plan to generate a 20% tax on income.
A lot of gambling reviews will tell you that the more variety and channels you offer, the higher the profit you generate. Georgia’s plans are still not specific as to what people can bet on, and how they can bet. The debate on allowing sports betting alone will be expected to take a lot of time in the state legislature. But getting the ball started is a good thing. But given how things are working now, it will be a long time until we see sports wagering in Georgia. And because of this, the state will continue to lose the potential to generate millions of taxes that they can use for social and development programs.
