Governor Proposes Oklahoma Sports Betting Plan for 2024

Oct 8, 2022; Dallas, Texas, USA; Oklahoma Sooners quarterback Dillon Gabriel (8) warms up before the game against the Texas Longhorns at the Cotton Bowl. Mandatory Credit: Kevin Jairaj-USA TODAY SportsOklahoma Gov. Kevin Stitt (R) announced plans for legalized sports betting todayProposes retail and online sports betting for the stateWill prohibit wagers on individual performances of student-athletes and prop bets at the collegiate level

Buckle up, Oklahoma, your governor has sports betting on his mind.

Gov. Kenny Stitt (R) announced plans today for a sports betting push for the Sooner State as moves towards its 2024 legislative session. Stitt presented a plan to legalize in-person and online sports betting for federally recognized tribes in the states, which he said will “protect tribal investments in brick-and-mortar facilities.”

The plan would also allow for licensed sports betting operators to offer online sports betting in the state and be taxed at a 20% rate.

Stitt Has Been Sports Betting Proponent

Gov. Stitt has long been a sports betting proponent, as he publicly backed several bills proposed by Oklahoma legislators in 2023.

No bills crossed the finish line this year.

“I promised Oklahomans if we pursued sports betting, we would do it right— and this plan does just that,” Governor Stitt said in a press release. “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.”

Stitt’s proposal will see retail sports betting controlled by federally recognized Oklahoma tribes and be taxed at a 15% rate. Tribal sports betting would be pursuant to an approved state-tribal gaming compact.

Online sports betting would be offered by licensed sports betting operators. Operators would pay an initial licensing fee of $500,000 and be required to pay an annual licensing fee of $100,000 to offer sports betting in the state.

Still seems focused on protect student-athletes and will prohibit prop betting on college sports, prohibit bets on player injuries, and prohibit bets on individual performances of student-athletes, coaches, and referees.

Further rules and regulations will be developed as the state gets farther along in the process.

Oklahoma Sports Betting Bills Floundered in 2023

Oklahoma legislators have attempted to legalize sports betting for the past two years. In 2023, Rep. Ken Luttrell (R-37) introduced bill HB 1027, which allowed state tribes to amend their gaming compacts to offer retail and/or online sports betting. Luttrell filed a similar bill in the 2022 legislative session, but the bill never received a vote on the House floor.

Sen. Bill Coleman (R-10) signed onto  the bill as a senate author.

Luttrell’s bill allowed state tribes to offer retail and/or online sports betting. Thirty-five of the state’s 38 federally recognized tribes have signed gaming compacts and there are 143 tribal casinos and gaming centers in Oklahoma that could possibly offer sports betting.

The bill included a monthly sliding scale that would have required state tribes to pay a higher fee as the month went on depending on each of the tribe’s net win.

Here is the fee scale he proposed:

4% of the first $5 million of monthly net win received by a tribe5% of the next $5 million of adjusted gross revenues received by a tribe6% of all subsequent adjusted gross revenues received by a tribe

The fee percentages would reset at the beginning of each month.

The bill actually passed out of the House by a 66-22 vote, but was never heard by the Senate.