Oklahoma Governor Unveils Plan For Sports Betting Legalization

Oklahoma Gov. Kevin Stitt released a new plan, proposing the statewide expansion of sports betting in the state. On Thursday, the governor unveiled details regarding the plan that calls to deliver in-person betting via Tribal operators and mobile betting through licensed operators across Oklahoma.

Gov. Stitt proposes mobile wagering to be taxed at a 20% rate, allowing customers across the state to place wagers via mobile devices. The activity would be offered by operators that have secured a license in Oklahoma, permitting them to provide their services. Besides the tax rate, the state would benefit from an initial license fee of $500,000, along with an annual fee of $100,000.

On the other hand, retail sports betting would be organized by federally recognized Tribes. Gov. Stitt said that this is subject to updated tribal gaming compacts that would enable Oklahoman Tribes to offer retail betting. The tax rate for in-person betting would be 15% and only in-person wagers would be accepted.

The new plan proposes the development of rules and regulations for the retail and mobile betting sectors. Those rules would “focus on transparency, accountability and consumer protection,” reveals a statement released by Gov. Stitt.

To protect student-athletes in Oklahoma, the new plan calls to prohibit wagering on individual student-athlete performance. Wagers on player injuries, referees, coaches or prop bets for college sports would also be prohibited. Despite this plan, the governor confirmed that he is looking forward to input from the NCAA.

Legal Betting to Deliver Fresh Tax Revenue

Speaking about the newly announced plan, Gov. Stitt explained: “I promised Oklahomans if we pursued sports betting, we would do it right— and this plan does just that.” He outlined that there are currently 35 states that offer legal sports wagering. Moreover, Gov. Stitt acknowledged that legal wagering would deliver fresh tax revenue for Oklahoma. Finally, Gov. Stitt pointed out: “Tribes will be able to add it onto their existing infrastructure, and Oklahomans can access it right from their phone.”

“Thirty-five states have already legalized sports betting, and it’ll be a great revenue stream for the state.“

Oklahoma Gov. Kevin Stitt

The latest announcement comes after last month, two tribal-state gaming compacts backed by Gov. Stitt were rejected by the Joint Committee on State Tribal Relations. In an attempt to increase the proceeds for the state, a few years ago, the governor engaged in revised gaming compacts with four tribes in the state. The two rejected proposals were struck down over fears of a statewide expansion of casino gambling.