The "South Carolina Sports Wagering Act" seeks to legalize and regulate sports wagering within the state by establishing a new chapter in the South Carolina Code. It creates the South Carolina Sports Wagering Commission, which will oversee licensing and regulation, set conditions for lawful wagering, and impose a privilege tax of twelve and one-half percent on adjusted gross sports wagering receipts. The bill outlines the licensing process for operators and suppliers, limiting the number of licensed operators to eight, and specifies ineligible individuals for wagering, including commission members and athletes. It also mandates the commission to enforce compliance, conduct audits, and maintain transparency.

Additionally, the bill emphasizes responsible gambling practices, allowing bettors to self-restrict their activities and participate in a voluntary exclusion program. It allocates tax revenues to various state funds, including mental health services for gambling disorders. The commission is empowered to create regulations governing sports wagering conduct, investigate licensees for violations, and impose penalties for non-compliance. The legislation clarifies that engaging in sports wagering or fantasy sports contests does not violate existing gambling laws and ensures confidentiality in investigative records. The act will take effect upon the Governor's approval.

Statutes affected:
03/12/2025: 16-19-135
Latest Version: 16-19-135