Oklahoma outlines possible sports betting framework

Oklahoma in the United States does not have a legal sports betting industry just yet, but this may soon be changing, after Gov. Kevin Stitt announced his plans for making this a reality. The governor’s plan will focus on in-person bets at licensed venues that will be in turn operated by federally recognized tribes, an official statement by the government reads.

However, the plan will also feature mobile betting that can be carried out from anywhere in the state provided that locals place their wagers with licensed sportsbooks, which will receive licenses from the state and a gambling authority.

The licensed sports betting operators will have to meet a 20% rate for mobile wagering and have the right to accept wagers as long as they have been placed within the confines of the state. Geofencing technology would be needed to make sure this is the case. An initial license fee of $500,000 will have to be paid, with a $100,000 renewal fee. The tax paid by retail venues will be only 15% in contrast, when applying to in-person wagers.

Certain college bets are off the table, it seems, as prop betting and bets on individual athlete student-performance will not be allowed, but it seems that college betting as a whole will go ahead.

Prop bets are usually those that are associated with the highest rate of match-fixing, as a single player or referee could potentially ensure that the outcome of a game changes, whereas entire teams are less likely to use deception.

However, the governor is still awaiting input from the NCAA and athletic conferences which will feedback to the gubernatorial office on whether they think rolling out even limited college sports betting is a good idea in the first place.

Gov. Stitt used the statement to address Oklahomans and said that he had promised them sports betting and would now deliver. He added:

"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."

Optimistic about the future, Gov Stitt has presented a quick fact sheet for interested parties to explore and see what Oklahoma’s sports betting landscape would look like if enacted successfully.

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