Oklahoma governor plans to bring sports betting to state

OKLAHOMA CITY — Gov. Kevin Stitt announced his plan Thursday to make sports betting a reality in Oklahoma.

The plan, which would allow Oklahomans to place in-person bets at gaming sites operated by federally recognized tribes, would protect tribal investments in brick-and-mortar facilities, according to a press release.

The plan also would allow Oklahomans to place bets on their mobile devices on a sportsbook licensed by the state. Additionally, the plan protects Oklahoma’s student-athletes by prohibiting prop betting and bets on individual student-athlete performance, according to a press release.

“I promised Oklahomans if we pursued sports betting, we would do it right — and this plan does just that,” Stitt said in a statement. “Thirty-five states have already legalized sports betting, and it’ll be a great revenue stream for the state. Tribes will be able to add it onto their existing infrastructure, and Oklahomans can access it right from their phone.”

The plan will prohibit wagers on the individual performance of student-athletes, coaches, referees, player injuries, and prop bets at the college level. Stitt is awaiting input from the NCAA and athletic conferences that impact Oklahoma to see how they choose to regulate the industry, according to a press release.

Mobile wagering will be conducted by organizations licensed by the State of Oklahoma, taxed at a 20 percent rate, and bets may be accepted from anywhere in the state. An initial licensing fee for participating organizations of $500,000 will be required, in addition to a $100,000 annual fee, according to a press release.

Pursuant to updated tribal gaming compacts, retail wagering can be conducted by federally recognized tribes, taxed at a 15 percent rate, and bets will only be accepted in person, according to a press release.