The Oklahoma House of Representatives passed House Bill 1027 on Tuesday, which would legalize in-person and mobile sports betting in Oklahoma.
“Right now, Oklahoma is missing out on a huge financial opportunity for both our state and our tribes,” Ponca City Republican Representative Ken Luttrell said. “Oklahomans are traveling across state lines to participate in sports betting, and we’re losing those dollars. It makes economic sense to provide sports betting as an option.”
The bill would allow gambling on sports as a supplement to the state-tribal model gaming compact. Tribes would pay the state a 4% fee for the first $5 million dollars made in one month, a 5% fee on the next $5 million and a 6% fee for additional monies.
The Office of Management and Enterprise Services estimated the state could see more than $9 million in revenue if the bill becomes law. Funds would be split, with 12% going into the general revenue fund and 88% going into education.
HB1027 passed the House 66-26. It now heads to the Senate for consideration.