South Carolina Senator Tom Davis has introduced a bill to legalize online sports betting in the state, setting a tax rate of 12.5%. The bill allows for up to eight sports betting operators and requires a $100,000 application fee for a license. The tax revenues generated will be distributed to the general fund, local governments, and mental health services for problem gambling. The bill also addresses the gray area of daily fantasy sports in the state.
Interest in sports betting in South Carolina is high, with over 10,000 registered sports betting accounts in the state according to GeoComply. However, the bill still needs to go through the Senate Labor, Commerce, and Industry Committee for approval.
South Carolina would be one of the few states in the country to allow customers under the age of 21 to bet on sports if the bill is approved. The legislation is similar to a bill introduced in the House by Rep. Chris Murphy, but the two bills are not listed as companion pieces.
The South Carolina Sports Wagering Commission would oversee the sports betting market if the bill is passed and will only allow operators who are already established in at least five other states to apply for a license. As discussions around the legalization of sports betting progress, the minimum age requirement may be a topic of debate.
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