South Carolina has taken a new step towards legalising sports betting market by filing House Bill 3625. The bill, filed by Rep. Chris Murphy (R) and co-sponsored by bipartisan lawmakers Rep. Heath Sessions (R) and Rep. J. Todd Rutherford (D), aims to allow online sports wagering regulation.
The bill will amend the current state laws to do so, and it aims to establish the South Carolina Sports Wagering Commission as the leading gambling industry regulatory body. As per the legislation, a maximum of eight sports betting licences will be issued within the state. Operators who are already active in at least five states will be eligible to apply for a licence.
The regulated operators would be required to pay 12.5 percent of adjusted revenue in taxes, as per the bill. It also includes an additional $100,000 application fee and a $1 million licensing fee for successful applicants. If the bill is passed, it would modernise the state’s approach to wagering and bring in tens of millions of dollars. It would also help address the consumer protection concerns that are associated with gambling and create economic opportunities.
The bill is likely to face pushback from Gov. Henry McMaster, a strong opposer of legalised gambling. He will remain in office until 2027.
Bill mirrors neighboring states
The new proposal comes as neighbouring states like North Carolina and Tennessee have embraced legal sports betting. This has pressurised South Carolina to follow suit or risk more residents either hopping cross-state to wager or venture towards illegal gambling via black market operators.
South Carolina has limited exposure to legal gambling, with South Carolina Education Lottery currently being the only legal form of wagering in the state. Previous efforts to expand gambling, especially legalising sports betting, have not worked out for the past three years. However, rising public interest and significant tax revenues could potentially cause the state to reconsider legalising the market.
Industry experts believe South Carolina will wait for Georgia to legalise sports betting first. Georgia is another historically conservative state but has indicated rising interest in legalising sports betting in 2025. This could be a tipping point for South Carolina if Georgia goes through with the legalisation.
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