Governor Kevin Stitt Unveils New Plan To Legalize Sports Wagering In Oklahoma

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Oklahoma Governor Kevin Stitt has revealed his plan to help officially legalize sports wagering in Oklahoma. The idea, which would enable Oklahoma residents to wager in-person at gambling locations managed by federal tribes, would safeguard tribal assets in brick-and-mortar properties. Additionally, Oklahomans would also have the opportunity to put their wagers via mobile devices at a state-licensed sportsbook.

Protection of student-athletes:

One more benefit of the aforementioned plan is that it would keep safe state’s student-athletes by banning wagers and prop wagering on the performance of an individual student-athlete. Commenting on the plan, Governor Stitt added according to the official press release: “I promised Oklahomans if we pursued sports betting, we would do it right— and this plan does just that. Thirty-five states have already legalized sports betting, and it’ll be a great revenue stream for the state. Tribes will be able to add it onto their existing infrastructure, and Oklahomans can access it right from their phone.” 

Moreover, it would ban betting on the individual performance of coaches, student-athletes, player injuries, betting on props and umpires at a college level. In that regard, Gov. Stitt is enthusiastically anticipating advice from the athletic conferences that affect Oklahoma and the NCAA to catch a glimpse of how they decide to officially regulate the industry.

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Mobile betting:

As for mobile betting, it will be managed by organizations approved by the State of Oklahoma, taxed at a rate of 20%, and wagers may be received from any place in the state. However, for organizations that agree to participate, an initial licensing fee of $500.000 will be demanded, beside a yearly fee of $100.000. Next is retail wagering, which under updated tribal gaming compacts may be managed by federally recognized tribes, is taxed at a rate of 15%, and wagers will just be received in person.

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Information on Governor Stitt’s sports wagering plan mentioned above may be found at this link.

Two compacts rejected by the Committee:

Most recently, The Joint Committee on State Tribal Relations denied the aforementioned governor’s request to approve 2 gaming compacts with 2 Native tribes, as the committee believes the compacts may lead to the expansion of gaming facilities in Oklahoma County.

On a related note, Gov. Stitt said: “I don’t understand, why these guys can’t game and the other guys can. They are federally recognized. I don’t think most Oklahomans know the difference or understand why wouldn’t we allow this tribe to game if 20 other tribes are able to game in the state of Oklahoma. That’s what’s a head-scratcher to me.”

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