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 be responsible for licensing organization licensees to conduct authorized gaming as defined by the State-Tribal Gaming Act. It also ensures that local ordinances cannot restrict or prohibit authorized gaming at racetrack locations and outlines the regulatory framework for operating gaming machines and devices.

Additionally, the bill introduces a new section allowing tribes to offer sports pools, which includes in-person and mobile device wagering on sporting events. This provision requires tribes to execute a supplement to their existing compact with the state, detailing a tiered fee structure based on revenues from sports pools, starting at 5% for the first $5 million in monthly net win and increasing to 7% for amounts beyond that. The bill emphasizes that it does not authorize any additional forms of gaming or further electronic gaming within Oklahoma and clarifies that participation in these authorized games will be lawful, despite any conflicting provisions in the Oklahoma Statutes, as long as they comply with the effective compact supplement. The act is set to take effect on November 1, 2025.