Senate Bill No. 125 amends Oklahoma's laws regarding state-tribal gaming by updating terminology and provisions related to the Model Tribal Gaming Compact. The bill replaces references to the "model tribal-state compact" with "Model Tribal Gaming Compact" and clarifies that the Oklahoma Horse Racing Commission will license organization licensees for authorized gaming as defined by the State-Tribal Gaming Act. It prohibits local ordinances from restricting authorized gaming at racetrack locations and establishes a regulatory framework for the number of player terminals based on population criteria.

Additionally, the bill introduces provisions for tribes to offer sports pools, allowing in-person and mobile device wagering on sporting events. To implement this, tribes must execute a supplement to their existing compact with the state, which includes a tiered fee structure based on revenues from sports pools. The bill ensures that the operation of sports pools is lawful under the existing compact and does not authorize new forms of gaming or additional electronic gaming in Oklahoma. The act is set to take effect on November 1, 2025, contingent upon a favorable committee report from the Committee on Appropriations.