Supporters in South Carolina have recently introduced Senate Bill 444 (SB 444), a new legislative proposal aimed at legalizing and regulating sports wagering in the state. The bill, sponsored by Sen. Thomas Davis, calls for the creation of a South Carolina Sports Wagering Commission to oversee the industry.
If passed, SB 444 would allow for up to eight sportsbooks in South Carolina, each required to pay a $100,000 application fee and a $1 million licensing fee. Applicants must demonstrate operations in at least five U.S.-regulated markets and provide references from regulators.
In addition to SB 444, another bill, House Bill 3625 (HB 3625), has been introduced in the state legislature, proposing similar regulations for sports betting. Both bills outline a tax rate of 12.5% on adjusted gross revenue, with the majority of tax revenues going to the state’s General Fund to support public works projects.
While SB 444 focuses specifically on sports betting, it does not address official league data for sports events or daily fantasy sports. The bills are currently under consideration in their respective chambers, with further discussions needed before they can advance in the legislative process.
Overall, the introduction of these bills signals a growing interest in legalizing sports wagering in South Carolina, with supporters eager to regulate the industry and generate revenue for the state. The future of sports betting in the Palmetto State will depend on the outcome of these legislative proposals.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
