An Oklahoma Bill that would partially legalize sports betting within the state made it through the 1st round of voting in the house on Tuesday, March 22nd. The bill if passed into law would place sports betting under the state-tribal model gaming compact.
Oklahoma would receive 4% of the 1st 5 million made in a month, an additional 5% on the next 5 million that month, then 6% on any additional revenue. The author of the bill Rep. Ken Luttrell, R-Ponca City said “Right now, Oklahoma is missing out on a huge financial opportunity for both our state and our tribes,”.
Lutrell went on to quote the author of a sports betting bill in Kentucky, state Rep. Michael Meredith saying “Revenue is not the reason I think this is good policy. I think it’s good policy because we’re taking something out of the illegal, unregulated space and creating a regulated marketplace.”