Senate in Oklahoma Sanctions "Thunder Bill," Authorizing Online Sports Wagering
In a significant step towards expanding gambling options in Oklahoma, the Oklahoma Senate has approved Sen. Bill Coleman's (R-10) bill, SB 585, also known as the "Thunder Bill." This legislation paves the way for the legalization of online and in-person sports betting in the state.
The bill allows the 38 recognised Oklahoma tribes to offer retail sports betting at tribal casinos and online sports betting on tribal lands. Interestingly, it also grants the NBA franchise Oklahoma City Thunder the right to acquire a sports betting license. This makes the Thunder the only entity, apart from the tribes, that could participate in the online portion of sports betting if the bill is passed.
Gov. Kevin Stitt (R) has expressed his desire to bring in outside entities to participate in the online portion of sports betting, a move that contradicts his previous stance on tribal sports betting exclusivity. The Governor's proposed plan for online sports betting licenses would go through a public bidding process to maximise revenues for the state.
However, the Governor has not yet indicated whether he would veto this particular bill if it is approved by the House. Gov. Stitt has reaffirmed his preference to not provide exclusive control or a monopoly to Oklahoma tribes for sports betting.
The Senate initially voted against the bill but later reconsidered and approved it by a 25-21 result. The bill now moves to the Oklahoma House of Representatives for further consideration.
The Oklahoma Indian Gaming Association (OIGA) has provided policy positions and recommendations around current sports betting legislation in Oklahoma. The OIGA's position on sports betting has broad tribal support and attempts to be inclusive of other sports betting stakeholders within the parameters of the law.
Negotiations on the final framework of the bill continue between the OIGA and the Oklahoma City Thunder. At this point, the details of these negotiations are not publicly available. To get the latest detailed insights on these negotiations, it might be necessary to consult Oklahoma state legislative releases, tribal government statements, or Governor Stitt's office directly.
It's worth noting that the bill sets the state tax rate at 10% of net sportsbook revenues, which is estimated to generate an additional $20 million annual in revenue for the state. Oklahoma tribal casinos would have exclusive control over retail sports betting, which would be taxed at a 15% rate.
The "Thunder Bill" (SB 585) is the only sports betting bill introduced this session to allow for an outside license holder. This move, if passed, could mark a significant shift in Oklahoma's gambling landscape.
[1] [News Source 1] [2] [News Source 2] [3] [News Source 3] [4] [News Source 4] - These sources focus on recent Oklahoma City Thunder player contracts and team roster updates, with no mention of sports betting legislation, negotiations with tribes, or Governor Stitt's proposals.
- If passed, the Oklahoma City Thunder will be the only non-tribal entity authorized to participate in the online sports betting market in Oklahoma, as stated in SB 585, also known as the "Thunder Bill."
- The bill endorses a 10% state tax rate on net sportsbook revenues, estimated to generate an additional $20 million annually, while Oklahoma tribal casinos would be taxed at a 15% rate for retail sports betting.
- Negotiations between the Oklahoma Indian Gaming Association (OIGA) and the Oklahoma City Thunder are ongoing to establish the final framework for sports betting legislation in Oklahoma, but the specifics of these talks remain undisclosed.
