The "South Carolina Sports Wagering Act" seeks to legalize and regulate sports wagering within the state by establishing a new Chapter 55 in Title 39 of the South Carolina Code. This legislation creates the South Carolina Sports Wagering Commission, composed of nine members appointed by state leaders, to oversee the licensing and regulation of sports wagering operators. The bill defines key terms related to sports wagering and sets eligibility criteria for participants. It imposes a privilege tax of twelve and one-half percent on the adjusted gross sports wagering receipts of licensed operators, with specific allocations for tax revenues, including funding for local infrastructure projects and mental health services.

The bill also outlines a comprehensive licensing process for operators, limiting the number of licenses to eight and requiring thorough background checks. It establishes guidelines for responsible gambling practices, including self-restriction options for bettors and oversight by the Department of Mental Health for gambling disorders. The commission is empowered to create regulations governing sports wagering conduct, manage financial transactions, and ensure compliance with age and geographic restrictions. Additionally, the bill clarifies that participation in sports wagering does not violate existing gambling laws and introduces a civil penalty structure for violations, with enforcement mechanisms involving the Attorney General and the Administrative Law Court. The act will take effect upon the Governor's approval.

Statutes affected:
12/12/2024: 16-19-135
Latest Version: 16-19-135