South Carolina lawmakers have introduced a new bill in an effort to legalize sports betting in the state in 2025. The proposed South Carolina Sports Wagering Act aims to establish a nine-person South Carolina Sports Wagering Commission to oversee the industry. If passed, operators would be required to pay a 12.5% tax rate, with the revenue being allocated towards the general fund, gambling addiction treatment services, and local infrastructure improvements.
The bill, known as Bill 3625, would make eight licenses available to operators who have sportsbooks in at least five other states. Additionally, the proposal includes provisions for legalizing daily fantasy sports contests. One notable aspect of the bill is the minimum age requirement of 18 years old for placing sports bets, making South Carolina one of the few states with a lower age requirement compared to the standard 21 years old.
Previous attempts to legalize sports betting in South Carolina have not been successful, despite growing momentum in favor of legalization. Lawmakers hope that the new bill will finally pave the way for legal sports betting in the Palmetto State. If successful, South Carolina would join neighboring North Carolina in allowing sportsbooks, which have already generated nearly $100 million in tax revenue since their launch in March.
Overall, the introduction of the South Carolina Sports Wagering Act signifies a significant step towards the legalization of sports betting in the state. The bill’s provisions aim to regulate the industry, generate revenue for various purposes, and provide opportunities for operators to enter the market. With the upcoming legislative session in January 2025, the discussion around legal sports betting is expected to be a prominent topic among lawmakers and stakeholders in South Carolina.