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, which will consist of nine members appointed by key state officials, and will oversee the licensing and regulation of sports wagering operators. The bill defines essential terms related to sports wagering and sets eligibility criteria for participants. It also 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.

Furthermore, the bill outlines a comprehensive licensing process for operators and suppliers, limiting the number of licensed operators 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 granted authority to conduct inspections, impose fines for regulatory violations, and enter into information-sharing agreements with law enforcement agencies. Importantly, the bill clarifies that participation in sports wagering or fantasy sports contests does not violate existing gambling laws, thereby providing a legal framework for these activities in South Carolina.

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