South Carolina lawmakers are gearing up for a renewed effort to legalize online sports betting when the General Assembly reconvenes in January, driven by the lucrative potential and the success of neighboring states.
The push comes despite two recent legislative failures and growing concerns about the social costs of gambling. However, experts and policymakers argue that the potential for significant tax revenue, particularly in light of North Carolina’s booming sports betting industry, makes it a compelling proposition.
“The success in terms of the tax revenue generated already in North Carolina will be enticing,” said Stephen Shapiro, a professor at the University of South Carolina Department of Sport and Entertainment Management. “I would imagine that we’re going to see more of those types of (sports betting) bills and that there’s a good chance it would be legalized in the next couple years.”
North Carolina has seen a surge in online sports betting activity since legalizing the practice in March, with wagering exceeding $1 billion in the first 60 days alone. The state has generated substantial tax revenue, far surpassing initial projections.
In South Carolina, previous attempts to legalize online sports betting have faced opposition and failed to gain traction in the legislature. However, bipartisan support for the measure has grown in recent years, with proponents arguing that it could generate significant revenue for the state while addressing concerns about illegal gambling.
While the potential financial benefits are significant, there are also growing concerns about the social costs of online gambling. Opponents argue that studies have shown that legalization can lead to increased financial distress among vulnerable populations, including those with lower incomes.
“Our data show that online gambling legalization leads to more irresponsible gambling spending among lower-income consumers than among higher-income gamblers,” said Kenneth Wilbur, a researcher at the University of California San Diego.
South Carolina’s governor is among those against the move. “The governor has always opposed legalized sports betting and campaigned against it during the 2022 gubernatorial election,” spokesman Brandon Charochak told Statehouse Report earlier this month. “His position remains unchanged.”
Original article: https://www.yogonet.com/international/noticias/2024/08/28/76863-south-carolina-lawmakers-set-for-renewed-push-to-legalize-online-sports-betting
