The latest effort to legalize Alabama sports betting is beginning to gain serious momentum.
Don’t bother stopping us if you’ve heard this one before. We know you have. Policymakers have previously discussed various proposals that would legalize sports betting in Alabama. All of them have invariably fallen through. And many of them ended up having absolutely zero legs.
Still, the 2024 Alabama sports betting bill appears to be shaping up in a starkly different fashion. Not only does it have the support of Alabama Governor Kay Ivey, but as details have started to emerge, it’s clear that this may be the most comprehensive and ambitious sports betting initiative ever proposed in The Crimson State.
Without question, there’s a difference between “ambitious and comprehensive” and “tangible approval.” The legalization of Alabama sports gambling in 2024 is far from a sure thing. However, we’d be remiss if we didn’t acknowledge the crescendoing optimism. Regardless of how this legislation pans out, Alabama is clearly considering the legalization of sports wagering more seriously than ever before.
Full Details Emerge for 2024 Alabama Sports Betting Bill
Lawmakers in The Crimson State have discussed what a 2024 Alabama sports betting proposal must look like for the past year. That in itself is a good sign. Initiatives cannot be formally approved outside legislative sessions. But preemptive dialogue is allowed. And it can make a world of difference.
In this case, it appears policymakers covered nearly every nook and cranny of the Alabama sports betting conversation. Details have started to emerge on the actual proposal, and they answer just about every possible question you could have. Here’s Mike Cason of Alabama.com with the full scoop:
“Alabama lawmakers involved in talks about gambling legislation over the last year on Wednesday released details of bills that will be introduced this week, including proposals for a state lottery, as many as 10 casinos, sports betting, and a statewide gambling regulatory commission…Revenues from the lottery would support education, while revenues from the casinos and sports betting would go to the state General Fund. The Legislature would pass bills annually to appropriate the money within those categories, lawmakers said. The education funds could go to school security and scholarships for two-year community and technical colleges and dual enrollment, and for non-recurring capital expenses.
“Casino and sports betting revenue would go to a General Fund Budget Reserve Fund until that fund reaches $300 million. The current balance in the fund is about $150 million. After that, 95 percent would go to a Gaming Trust Fund. Five percent would go to the county commission where casinos are located. If casinos are in a municipality, the city would get 2 percent of that 5 percent share.”
This is a lot to take in. And believe it or not, it’s just the tip of the iceberg.
New Alabama Sports Betting Measure Includes Projected Revenue
One of the biggest roadblocks facing Alabama sports betting in the past has been skepticism surrounding the market demand. Even if the state created a lottery, would residents of a state without any major pro sports teams partake in enough wagering beyond betting on college football?
At first glance, the answer is “yes.” Various Senators and State Representatives released Year 1 Alabama sports betting projections. Their estimates came in at $10 million. That’s a pretty big number when you consider it’s taken some states years to make seven figures’ worth of revenue.
Granted, opponents will still maintain that’s not enough money to justify rewriting the state’s gaming laws. But that’s where the rest of the bill comes in. By creating a state lottery and expanding the casino gaming industry as part of the proposal, Alabama policymakers drum up the total amount of revenue.
To that end, while speaking with the press, Representatives Andy Whitt (R-Madison), Chris Blackshear (R-Phenix City) and Sam Jones (D-Mobile), along with Sen. Greg Albritton (R-Atmore) said that the proposed bill would result in “$802 million to $1.011 billion.” These estimates include revenue from state gaming compacts. They also assume a 24 percent tax rate on casino gaming and 17 percent sports betting rate.
So, Will the Latest Attempt to Legalize Sports Gambling in Alabama be Successful
Though it’s much too early to tell, the early returns on the 2024 Alabama sports betting push are incredibly promising. The details of the bill outline every layer of implication while also addressing many concerns. And while online sportsbooks in the United States don’t appear to be part of the initiative, this likely increases the chances of widespread approval inside the House and Senate.
If we assume the state legislature is on board with one or more of the proposals, the question then becomes: What will Alabama voters do during the 2024 general elections? Will they approve of legal sports gambling? Could they shoot it down?
The answer here is a wild card. However, lawmakers recently announced that they conducted a phone survey. This poll found that roughly 76 percent of all respondents approved of the Alabama sports betting bill currently on the table.
Indeed, these surveys have a large margin for error. But if these findings are even relatively accurate, it would be time to change the discussion. Gone would be the days of wondering if Alabama would legalize sports betting. Instead, we’d shift to wondering when Alabama sports betting would officially be rolled out.
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