New Push for South Carolina Sports Betting 

Motivated by the lucrative possibilities and the success of other states, South Carolina politicians are preparing for a redoubled attempt to legalize online sports betting when the General Assembly reconvenes in January. The drive is made in spite of two recent legislative setbacks and mounting worries about the negative societal effects of gambling. But analysts and legislators contend that it’s a strong proposal because it might generate a sizable amount of tax revenue, especially considering how popular sports betting is in North Carolina.

“The success in terms of the tax revenue generated already in North Carolina will be enticing,” said Stephen Shapiro, a professor at the University of South Carolina Department of Sport and Entertainment Management. “I would imagine that we’re going to see more of those types of (sports betting) bills and that there’s a good chance it would be legalized in the next couple years.”

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Since legalizing online sports betting in March, North Carolina has experienced a sharp increase in activity, with big money being wagered every month. Significant tax money has been earned by the state, significantly beyond earlier predictions. Prior attempts to legalize internet sports betting in South Carolina have run into opposition and failed to garner traction in the legislature. Nonetheless, the proposal has gained support from both parties in recent years, with supporters claiming that it would solve worries about underground gambling while also having the potential to bring in a sizable sum of money for the state.

Even though there could be substantial financial gains, worries about the negative societal effects of internet gambling are also becoming more prevalent. Studies, according to opponents, have indicated that legalization may worsen financial hardship for vulnerable groups, such as those with lower wages.

“Our data show that online gambling legalization leads to more irresponsible gambling spending among lower-income consumers than among higher-income gamblers,” said Kenneth Wilbur, a researcher at the University of California San Diego.

The problem for South Carolina is that their governor remains against sports betting. “The governor has always opposed legalized sports betting and campaigned against it during the 2022 gubernatorial election,” spokesman Brandon Charochak said to the Statehouse Report. “His position remains unchanged.”

Even though the Supreme Court overturned the federal ban on sports betting in 2018, each state is still free to enact its own sports betting laws. Some form of sports betting is available in 38 states and Washington, D.C. In the second quarter of 2024, American sports bettors wagered $31.75 billion. Revenue from that quarter came in at $3.16 billion, up 35.3% over the previous year.

The 2024 tax income estimates for sports betting will be made public sometime in 2025, although preliminary data suggests that the states with the highest wagering totals in 2024 will mostly remain the same from previous years. Nevada, New Jersey, Illinois, Pennsylvania, Ohio, and New York are among them with New York having far and away the biggest total.Check out the latest sports betting odds at Prime Sports.