Oklahoma will take another chance at legalizing tribal betting by 2023. Rep. Ken Lutrell filed a bill that is similar to the one he had last year. This would allow for online and in-person sports betting at tribal racetracks and casinos.
According to Lutrell’s proposal law, the Oklahoma Horse Racing Commission will issue licenses. It will also oversee betting if four Oklahoma tribes agree to an Oklahoma-state compact.
Racetracks with less than 600,000. residents would be able to offer up to 650 gambling terminals. After five years, they could add more terminals. Racetracks with less than 400,000 inhabitants would have 250 gaming terminals.
If the Oklahoma legislation includes sports betting, it would be possible for tribal casinos and racetracks in Oklahoma to accept a supplement to existing compacts. Tribal operators would be required to follow the following payment scales:
- On the initial $5 million in annual gaming revenues, 4% is added to gross gaming revenue
- The next $5 Million in annual revenues will earn you 5%
- Above the initial $10,000,000, 6%
This tax schedule represents a departure from the flat 10% Lutrell proposal last year.
Although he didn’t endorse the legislation in full, Oklahoma Governor Kevin Stitt tweeted on Tuesday that he was open to legal sports betting within Oklahoma, provided it’s fair and equal.
Lutrell still has the time to amend the bill. The bill is due to be heard in committee by February 1.
