Georgia lawmakers are testing the odds again on sports gambling this year. The Senate Special Judiciary Committee voted to amend House Bill 903. It is to allow online sports betting platforms such as DraftKings and FanDuel to offer in Georgia.
Besides, the platform will be under the umbrella of the state lottery. The committee includes only Democrats, making its prospects even more unclear as it moved to a Republican-controlled full Senate.
An Argument on Generating Revenue Yearly
The legalization of sports wagering could bring in an additional $60 million yearly under a “conservative” estimate. It was told to the committee members by State Senator Burt Jones, a Republican from Jackson.
With his explanation, the money from the lottery spent on the state’s Hope Scholarship program. It aims to help pay for some students to go to college and also subsidize pre-school classes across the state. That means it could not go to alleviate Georgia’s $2.6 billion budget shortfall for the coming year.
However, Sen. Jones argued that growing costs for pre-school and college scholarship programs could outstrip slowing lottery revenue growth over the long term. It is on an unsustainable trajectory. And there are only two things that can keep the program viable for years. These are to cut costs or to find ways to generate more revenue.
Testing the Odds Again on Sports Betting Under the Lottery
Lawmakers earlier this year considered plans to legalize casinos, horse racing, and sports betting. And most of the ideas came in the form of constitutional amendments. And argued last Friday, the lawmakers are testing the odds again on sports betting. It is because Georgia voters had already changed the state constitution to allow a lottery.
As a result, there is no need for an amendment for sports betting if it will be under the lottery. The U.S. Supreme Court ruled in 2018 that additional states could legalize sports betting. So far, according to online gambling sources, it is nearly 20 states already have.
