A new bill introduced by Senator Thomas Davis in South Carolina seeks to legalize sports betting in the state. Senate Bill 444 proposes the creation of the South Carolina Sports Wagering Commission to regulate sports betting activities. The commission would consist of nine members appointed by various authorities and oversee licensing, operations, and administration of sports wagering.
Under the proposed legislation, up to eight sportsbook operators can obtain licenses for a five-year term by paying a $100,000 application fee and a $1 million licensing fee upon approval. Applicants must demonstrate active operations in at least five other regulated U.S. markets and provide references from relevant regulatory bodies.
Notably, the bill does not require the use of official league data for betting purposes and excludes language related to the regulation of daily fantasy sports. A 12.5% tax on adjusted gross revenue from sports wagering is proposed, with 82% of the revenue directed to the state’s General Fund. Funds from the General Fund would be distributed to local governments on a per capita basis to support infrastructure projects.
Senate Bill 444 aligns with a previous legislative initiative, House Bill 3625, introduced in the South Carolina House of Representatives. Sponsored by Representative Chris Murphy, HB 3625 mirrors core aspects of SB 444, including the proposed tax rate, licensing fees, and license duration. The bills aim to establish a regulated sports betting market in South Carolina, generating revenue for the state and supporting local development initiatives.
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