ATLANTA — One of the biggest betting events of the year is underway.
We’re talking about an estimated $2.7 Billion bet on ‘March Madness.’
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Georgia will get none of that but some lawmakers are hoping that changes.
State Farm Arena is scheduled to host several ‘March Madness’ games next year. Many would like to legally bet on those games but first, our lawmakers have to vote on that.
“At a 20% tax rate, they’re estimating over $100 million in revenue for the state to be used for education,” said Kash Trivedi.
Trivedi wants to see sports betting in Georgia.
It’s a huge debate going on right now inside the State Capitol.
Republican State Senator Clint Dixon said Senate Bill 386 would legalize betting and tax it.
“It would be on your device on your phone. It would be an app based as a way most people would use it. They can place those bets on that app. Simply what it does is that it creates 16 licenses. Seven of them are untethered so they would need to just put out for competitive bid. The other nine, one of them would go to the Georgia Lottery in the original bill the way it’s set up. The other eight would go to our professional sports teams here in Georgia,” said Dixon.
According to the American Gaming Association, 38 states and D.C., have legal sports betting including some of our neighboring states.
“It’s currently illegal here in Georgia but we got surrounding states Tennessee, Kentucky, and North Carolina that have legalized sports betting. Along with Florida,” said Dixon.
But not everyone is on board, the right-wing ‘Faith and Freedom Coalition’ said they believe adding this would have serious moral consequences in our state.
“We’re just against the expansion of gambling here in the state of Georgia,” said Mack Parnell.
But Dixon said this money would go to improving education.
“I believe right now the proposal is about 80% going to education still and then the other 20% broken up to other parts of the budget,” said Dixon.
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Meanwhile, Trivedi said the odds are in the state’s favor.
“It is a way to legalize and regulate something that people are doing today illegally,” Trivedi.
The bill passed out of the Senate and now a House Committee is discussing the bill.
A full vote is expected next week.
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