Recent advancements in the Oklahoma state Senate are signaling a potential shift towards legalized sports betting in the state. Three bills, including SB125, SB525, and SB164, have made progress through legislative committees, each addressing various aspects of sports wagering. Key provisions include exclusivity fees for tribes, revenue sharing for education, and regulation by the state lottery. The collaboration between tribal entities and the Oklahoma City Thunder is also emphasized in efforts to secure the team's financial success and presence. This legislative movement reflects the growing acceptance and potential benefits of sports betting in Oklahoma.
Sen. Bill Coleman mentioned that the proposed sports betting legislation is part of ongoing negotiations between a professional sports franchise in Oklahoma and state tribes.
SB125 proposes that a 5% to 7% exclusivity fee on sports betting revenue would support the state’s general fund and education programs.
The advanced SB525 allows the Oklahoma City Thunder and tribes to provide sports betting, aiming to generate revenue and secure the team's presence in Oklahoma.
SB164 assigns regulatory oversight of sports betting to the state lottery commission and sets significant licensing fees for sports betting operators.
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