Sports Betting Industry News & Market Updates

Two sports betting bills are heading for a Senate floor vote in Oklahoma. One would legalize sports betting, which Governor Stitt has promised to veto. The other would circumvent Stitt and put the issue on the November 2026 ballot.

The Louisiana House is considering raising the sports betting operator tax rate from 15% to 32.5%. A proposed bill would create the SPORT Fund to help support athletic programs for the state’s Division I colleges.

Nebraska Senator Eliot Bostar has withdrawn bill LR 20CA from the state legislature, which would have put legal sports betting on the November 2026 ballot. The bill was projected to be three votes short of the 30 needed to pass.

The NCAA has issued a show-cause penalty to ex-Baylor official Sam Hancock after he improperly wagered almost $3,000 on DFS sites. He will need to go through gambling programs and counseling before he can work for another NCAA school.

A SC House Subcommittee held its first hearing on bill H3625, which would create a regulated sports betting market. The bill faces staunch opposition, including from the Governor, who has promised to veto any bills expanding gambling in the state.

The Colorado House is currently reviewing bill HB 1311, which would tax online sportsbooks on promotional bets. This is projected to raise tax revenue generated by the industry by about 30%, helping to fund the state’s critical water projects.

An Ohio budget proposal was submitted to double the state’s tax rate from 20% to 40%, but it was stripped after failing to gain support among lawmakers. The state is now shifting focus to protecting the industry as sports prediction markets continue to rise.

The Tennessee Sports Wagering Council has sent a letter requesting that the CFTC shut down controversial sports prediction trading markets in the state. Tennessee is the ninth state to take action against these markets, but it may not have the authority to do so.

A group of North Carolina republicans has introduced a budget proposal that would make significant changes to the state’s sports betting tax revenue. The proposal would double the operator tax rate from 18% to 36%, and change how the revenue is distributed.

The HI House has rejected Senate changes to a sports betting bill, sending it to a conference where members from both bodies will attempt to reach a deal. The disagreement centers on operator tax rates and licensing fees set by the Senate.