- Oklahoma legislators host sports betting study
- Oklahoma governor favors a free market
- OKC Thunder target stake in betting handle
Oklahoma legislators recently hosted their first sports betting study among key stakeholders to build a consensus on a framework to offer legal betting in the Sooner State.
Oklahoma Governor Wants Free Market for Sports Betting
The betting study was hosted by Sen. Bill Coleman. Coleman stressed that Oklahoma should be focused on taking advantage of new tax revenues, rather than losing funds to offshore sites.
“Oklahomans are already placing bets by crossing state lines or turning to illegal platforms,” Coleman said. “Right now, none of that activity is happening in a safe, regulated environment that generates tax revenue for the state. Legalizing sports betting would eliminate the black market and give the state and its partners the resources to identify and help problem gamblers.”
“Legalizing sports betting would eliminate the black market and give the state and its partners the resources to identify and help problem gamblers.” — Sen. Bill Coleman.
Oklahoma has already seen multiple neighboring states in New Mexico, Colorado, Kansas, Missouri, and Arkansas legalize various forms of sports betting. Oklahoma is one of just 11 remaining states to not offer legal sports betting.
Any sports betting bills could face opposition from Gov. Kevin Stitt. Stitt has come out strongly against any bill that gives exclusive control of sports betting to local tribes.
Therefore, new Oklahoma sports betting bills may need to work on incorporating both the state’s tribes, and also additional partners, like local sports teams.
OKC Thunder Target Sports Betting Partnership
Last year Coleman authored Senate Bill 585, also known as the “Thunder Bill”. The bill allowed Oklahoma’s 38 recognized tribes to obtain both retail and online licenses. It also allowed the state’s NBA franchise, the Oklahoma City Thunder to do the same. This, along with other bills, failed to progress.
Oklahoma Indian Gaming Association Chairman Matthew Morgan is open to working with the Thunder, so long as tribal gaming compacts are respected.
The Thunder sent representation to the sports betting study and hopes to be heavily involved with legalization efforts going forward.
“This study was about getting everyone in a room to figure out how we can come together to legalize sports betting next session,” Coleman said. “This is a real chance to create new economic opportunities and revenue streams for our state and our tribes while supporting local sports teams like the Thunder.”
“This is a real chance to create new economic opportunities and revenue streams for our state and our tribes while supporting local sports teams like the Thunder.” — Sen. Bill Coleman.
Thunder Vice President Will Syring discussed a proposal during the study. Syring proposed that the Thunder, or a tribal consortium would manage a single retail and mobile sports betting license. Revenues would be shared with local tribes, with the Thunder taking 0.25% of the total handle.
The hope is this joint proposal can benefit tribes, the state, and local sports teams, to gain approval where other bills have stalled out.
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