Oklahoma lawmakers are making efforts to bring regulated sports betting to the state.
The Sooner State has started a new legislative session by introducing a sports betting measure that proposes to regulate wagering with oversight from the Oklahoma Lottery Commission. Senate Bill 1434, introduced this week by Sen. Casey Murdock, underwent its first reading which resulted in the measure being referred to Oklahoma’s Senate Rules Committee. Following SB 1434’s second reading, the bill has been referred to the state’s Appropriations Committee.
SB 1434 proposes to allow federally recognized tribes in Oklahoma to offer sports wagering through contracts with the OLC while betting would be permitted to “sports pools retailers” that are awarded a license by the commission. Oklahoma is home to 38 federally recognized tribes.
Online Retailers, defined in SB 1434 as “any licensed in-person establishment or Internet-based application that allows for an individual to wager,” are required to pay an initial $500,000 license fee. A license can then be renewed annually for an additional $100,000. SB 1434 calls for retailers to be taxed at a 20% rate for online bets while retail wagering is taxed at a 15% rate.
A portion of tax revenue is to be allocated to problem gambling initiatives and education. If a sports betting bill is passed, wagering could add over $9 million a year to the state’s budget.
Gov. Kevin Stitt has voiced a desire to bring sports betting to Oklahoma this legislative session. Stitt’s willingness to authorize wagering in the Sooner State comes amid previous failed attempts to sign sports betting into law. In 2023, House Bill 1027 was introduced as a measure allowing state tribes to offer online and retail wagering. HB 1027, sponsored by Rep. Ken Luttrell, also proposed wagering at racetracks if tribes entered into a compact with the state.