Alabama is making another attempt to push the sports betting legislation after the process was suspended due to the Covid-19 pandemic.
Alabama Sports Wagering Commission to Regulate the Sector
Legislators in Alabama will review a new bill that seeks to legalize online, mobile and land-based sports betting in the US state.
Sports betting in the Cotton State is not legal yet despite the numerous attempts in the past. The most recent bill was HB 336, which was sponsored by Representative John Rogers. The bill did not manage to pass, since Alabama’s legislature was suspended until late April due to the Covid-19 pandemic.
Now, Rogers is making another effort to legalize sports betting by introducing House Bill 161. The legislation proposes the betting on professional and collegiate sports events in Alabama, with players able to place a wager in person at licensed venues or with approved online and mobile operators.
This bill would also create the Alabama Sports Wagering Commission, which will act as a rule-making authority and will be allowed to issue sports wagering licenses. The draft legislation also tackles license requirements and prohibitions, licensing fees, betting limits and penalties on unauthorized sports wagering, among others.
Under the new bill, Alabama Sports Wagering Commission would levy and collect a tax amounting of 10% of adjusted gross sports wagering receipts.
The proposed Alabama Sports Wagering Commission would be able to issue up to seven licences to operate sports wagering, with application fees to cost $100,000. Licences would be granted for a period of five years, after which the licensee would be required to pay a $100,000 renewal fee.
The $100,000 license would include the option to offer mobile betting and gaming facilities could team up with prominent sports betting brands to offer betting across the state.
Lottery, Casino Gaming and Sports Betting to Bring US$700M in Revenue
According to a recent study released by the Governor’s Study Group on Gambling Policy in December, legal sports betting could bring in an estimated US$10 million in revenue to the Heart of Dixie. The report also calculates that the lottery could bring in between US$200 million and US$300 million to the state, while casino gaming would generate another US$300-US$400 million.
“Ultimately, Alabama could realize 19,000 newly created jobs – many with salary premiums much higher than the State’s current average annual income – and could realize as much as $710 million in annual revenue, depending on what forms of gambling are legalized.”
The results of a poll carried out in November show that 70.8% of respondents are in favor of creating a state lottery.