Oklahoma is gearing up to join the sports betting game as the Senate Business and Insurance Committee approved not one, but three bills that could potentially legalize the practice. These bills, pushed by the Committee Chairman Sen. Bill Coleman, as well as Sen. Dave Rader of Tulsa, and Sen. Casey Murdock of Felt, could pave the way for both mobile and in-person sports betting options across the state. This legislative push demonstrates Oklahoma's eagerness to get in on the sports betting action that's been sweeping the nation, as reported by the Oklahoma Senate.
"As more states legalize sports betting, Oklahoma can't afford to fall behind," Sen. Coleman expressed, according to a report from the Oklahoma Senate website. He insists the state is uniquely positioned to capitalize on its numerous Native American tribes and tribal casinos,, not to mention the Oklahoma City Thunder's fanbase, which could fuel a successful sports betting industry.
The committee's positive reception of these bills marks a significant step forward. Senate Bill 585, authored by Sen. Coleman, would allow tribes to offer sports betting at their casinos and on tribal land through mobile platforms and the Oklahoma City Thunder to manage mobile sports betting on non-tribal lands, with the state taking a 10% cut of net revenues. Sen. Rader's Senate Bill 125 adjusts model gaming compact terms, stipulating exclusivity fee rates between 5% to 7%, while Sen. Murdock's Senate Bill 164 delegates regulatory responsibilities to the Lottery Commission and outlines the procedure for obtaining a "sports pools" license, with a 15% fee on adjusted gross revenues for retailers, as detailed by the Oklahoma Senate.
Despite this legislative milestone, the details are not yet set in stone. Sen. Coleman has hinted at potential changes following a meeting between Oklahoma City Thunder officials and the Oklahoma Indian Gaming Association representatives scheduled next week. The conversation hints at a broader discourse involving various stakeholders, with a compromise in sight that could, indeed make 2025 a pivotal year for sports betting in Oklahoma.
