New Sports Betting Bill Aims to Transform Landscape in South Carolina

New Sports Betting Bill Introduced in South Carolina

Columbia, SC – A significant shift in the sports betting landscape could be on the horizon for South Carolina as Representative Chris Murphy (R) has recently put forth House Bill 3625. This bill aims to establish a legal framework for sports betting within the state, setting South Carolina on a similar path to its neighboring states.

What the Bill Proposes

The proposed legislation, known as the South Carolina Wagering Act, seeks to create a regulated sports betting market that would include the issuance of up to eight sports betting operating licenses. The bill also stipulates a tax rate of 12.5% on gross revenue generated from bets placed. In addition to the operational framework, the bill proposes the establishment of the South Carolina Sports Wagering Commission, which would oversee and regulate the industry.

Key Features of the Legislation

If passed, the Act would allow individuals aged 18 and older to gamble on sports, which is comparatively lower than the minimum age of 21 set by many other states. This could potentially attract younger bettors and open up new revenue streams for the state. Alongside traditional sports betting, the bill includes the legalization of Daily Fantasy Sports, an area that is currently unregulated in South Carolina but presents an incentive for legalization.

Support and Opposition

Interestingly, the bill has garnered bi-partisan support, with a Democratic representative joining as a co-sponsor. While past efforts to bring sports betting to South Carolina have met with limited success, proponents of HB 3625 are optimistic that the recent success of sports betting in North Carolina will help bolster their case in 2025. North Carolina has seen commendable growth in its sports betting market, enticing South Carolina residents to cross state lines to place their wagers.

Concerns Over College Sports Betting

Despite the optimism, there are significant hurdles ahead for the bill, particularly in terms of betting on college sports. The current language of the bill allows for wagering on college events, including those involving in-state teams. This has raised eyebrows and concerns, especially as the NCAA has documented an increase in harassment directed at college athletes from frustrated bettors. In light of this, the NCAA has urged states to consider bans on prop betting for college sports, and some have already taken steps to restrict such practices.

Looking Ahead

As the 2025 legislative session unfolds, South Carolina lawmakers will have to navigate the complexities of regulating a new market while ensuring the safety and well-being of athletes. Any decision on this front could influence whether South Carolina will adopt a more lenient approach or follow in the footsteps of other states that have opted to restrict college betting.

In conclusion, with HB 3625 on the table, South Carolina stands at a potential turning point for sports betting. The outcome will depend not only on the legislative process but also on public sentiment regarding the impact of legalized betting, especially concerning college athletics. As of now, all eyes will be on Columbia as legislators consider the future of sports betting in the Palmetto State.