Oklahoma Governor unveils regulated sports betting plans
Kevin Stitt’s plans to include mobile sports betting as well as land-based tribal sportsbooks for retail betting only
Oklahoma Governor Kevin Stitt has announced ambitious plans to bring regulated mobile sports betting and land-based sports betting to the Sooner State.
Under the provisional framework unveiled by the Governor’s office, mobile wagering will be conducted by organizations licensed by the state, taxed at a 20% rate, and bets may be accepted from anywhere in the state.
Online sports betting license fees would start at an initial $500,000, with operators obliged to pay an annual fee of $100,000.
Land-based sports betting would also be permitted in the state and would be overseen by Oklahoma’s federally recognized 33 tribal gaming operators, who will be taxed at a rate of 15%.
Under other regulated models, these taxes would be based on an operator’s gross gambling revenue (GGR), however this has not been confirmed by the Governor’s office.
The Governor’s plan will prohibit wagers on the individual performance of student-athletes, coaches, referees, player injuries, and prop bets at college level.
“Rules and regulations will focus on transparency, accountability, and consumer protection,” a one-page expansion sheet published by the Governor’s office, in concert with the announcement confirmed.
Governor Stitt has confirmed that his office is “actively awaiting input” from collegiate organizations, including the NCAA and other athletic conferences present in the state, on how they might regulate the sector if these plans are realized.
Further details have not been released the Governor’s office at this time.
“I promised Oklahomans if we pursued sports betting, we would do it right— and this plan does just that,” said Governor Stitt.
“Thirty-five states have already legalized sports betting, and it’ll be a great revenue stream for the state. Tribes will be able to add it onto their existing infrastructure, and Oklahomans can access it right from their phone,” he added.
Oklahoma has a population of just over four million people, according to US Census bureau estimates, and is bordered by Texas, New Mexico, Colorado, Kansas, Missouri, and Arkansas.
Of these neighboring states, only Texas and Missouri do not have regulated sports betting in some form, with Kansas being the latest state to launch a regulated sports betting market in September 2022.