The Oklahoma City Thunder entered the fray to legalize sports betting in the Sooner State, offering a proposal in which the franchise would take 0.25% of the statewide betting handle.
The proposal came last Thursday during a study led by state Sen. Bill Coleman, one of the biggest proponents of legalization. There has been a bipartisan effort for sports betting in Oklahoma in recent years, and while a pair of House bills died on the Senate floor in May, Gov. Kevin Stitt has also threatened to veto any bill that gives the tribe exclusivity.
Coleman’s study, which came as part of the Senate Business and Insurance Committee he chairs, brought together multiple stakeholders and lawmakers to discuss ideas. Coleman’s SB 585 and the two House bills sponsored by Rep. Ken Luttrell that failed to advance out of the upper chamber, HB 1047 and HB 1101, are again eligible to be heard next year.
“Oklahomans are already placing bets by crossing state lines or turning to illegal platforms,” Coleman said. “Right now, none of that activity is happening in a safe, regulated environment that generates tax revenue for the state. Legalizing sports betting would eliminate the black market and give the state and its partners the resources to identify and help problem gamblers.”
Thunder wants a ‘percentage off the top’
Will Syring, who is the vice president of corporate sponsorships for the Thunder, offered the suggestion the team or tribal consortium be given the ability to offer a single retail and mobile sports betting license to tribal and state approved operators. He proposed the license require revenue to be split collectively among the tribes and the Thunder be given 0.25% of handle — which is the same rate as the federal excise tax.
“In other markets, teams are getting direct licenses,” Syring said, according to The Oklahoman. “If they’re getting licenses, they are getting paid off of those bets. The league also only allows you to take a percentage off the top.”
In its release regarding the summit, Coleman’s office noted that every neighboring state to Oklahoma but Texas is conducting legalized sports betting, with Missouri set to launch Dec. 1. New Mexico currently offers tribal-based sports betting. The release also pointed out the states have an average tax rate of 16%.
Matthew Morgan, chairman of the Oklahoma Indian Gaming Association, said the tribes are open to the idea of working with the Thunder. But he added any license awarded likely would have to go through the tribes as part of the State-Tribal Gaming Act.
The hearing occurred the same day the Department of Justice announced 34 arrests in two separate illegal gambling investigations. Miami Heat veteran Terry Rozier was arrested on charges of bank and wire fraud, and Portland Trail Blazers coach Chauncey Billups was arrested in connection to a multi-state illegal poker ring.
“This study was about getting everyone in a room to figure out how we can come together to legalize sports betting next session,” Coleman said. “This is a real chance to create new economic opportunities and revenue streams for our state and our tribes while supporting local sports teams like the Thunder. I’m ready to do my part to get it done.”
