South Carolina Sports Betting Bill May Be Proposed

Will 2025 be the year that South Carolina sports betting gets legalized?

House Representative Chris Murphy sure hopes so.

Or rather, should we say he is determined to do so?

“It’s one of those bills that is a revenue generator for the state, a very significant source of revenue,” the Dorchester Republican representative says, per Yahoo Sports Shaquira Speaks. “The fact of the matter is, it’s taking place right now illegally.

In just a couple of sentences, Murphy lays out the tenets of his case: money and ubiquity. And while this might be an oversimplification, it is a pretty good start. Plus, while there is plenty of valid opposition to sports betting in South Carolina, Murphy is not at all wrong.

There continues to be a rise of popularity for sports betting in the United States. Thirty-nine states have now legalized it in some form following voter approval for sports betting in Missouri. And with that type of popularity comes tons of revenue.

What’s more, he is also spot-on about South Carolina sports betting taking place anyway. Rules against it never actually stop it. But it is not easier than ever to circumvent laws. Trustworthy offshore betting sites are available in ample supply these days. On top of that, South Carolinians can travel to nearby states that offer legal sports betting. Heck, with sports betting in North Carolina now legal, many people in the northern part of The Palmetto State are just a stone’s throw away from getting their sports betting fix. And let us not forget that sports betting in Tennessee is also legal. That is another easily accessible place for bettors in South Carolina.

Basically, Murphy’s logic is sound. But given the history of South Carolina sports betting talks, will his plan for legalization in 2025 be successful?

Murphy Estimates That South Carolina Sports Betting Could Be Worth $100 Million

Money talks. And if Murphy’s South Carolina sports betting projections are accurate, his 2025 bill will be saying a whole lot. Here is more from Speaks’ piece over at Yahoo Sports:

“This would be the third attempt at legalizing betting in South Carolina. Murphy says his reason for bringing it back up—money and momentum. He believes his college and professional sports gambling bill would generate at least $100 million in revenue for the state. [And] 80 percent of that would go to the general state fund. Murphy’s bill will mirror North Carolina and Tennessee, two recent states to come into the gambling world. 'It’s interesting to note that when North Carolina’s legislation went live there were over a million bets attempted to be placed in South Carolina on the North Carolina apps,' Murphy says. 'So it just shows you that it is happening.'”

Murphy’s case is ironclad in terms of interest. Some have wondered whether the absence of a pro sports franchise in The Palmetto State could curb enthusiasm. But other markets—such as New Hampshire, Rhode Island and Delaware—quickly legalized sports betting after the Supreme Court of the United States overturned the Professional and Amateur Sports Protection Act back in 2018. In pretty much every case, these markets have significantly increased their revenue.

Of course, the barrier for entry will be higher in states with larger markets to regulate. South Carolina ranks 23rd in total population, according to StatsAmerica.org. Certain policymakers may not be interested in reworking the state’s gaming laws unless it is a nine-figure revenue driver.

Can South Carolina Really Make $100 Million Off the Legalization of Sports Gambling?

Answering this question can be tricky. There will be a rush to compare South Carolina sports betting potential to the revenue generated from North Carolina sports betting. And make no mistake, this path will be crossed once The Tar Heel State has offered wagering services for a full 12 months.

However, North Carolina is ninth in total population. As of now, they have more than double the amount of people. It would be unwise to use The Tar Heel State as South Carolina’s primary analog.

Using the returns from sports betting in Kentucky is a better baseline. They rank 26th in total population and just wrapped up their first full year of sports betting operations. They also do not have a pro sports franchise in-market—though, the prevalence of horse racing betting acts as an offset that can’t be found in South Carolina.

Still, The Palmetto State has nearly 1 million more residents than The Bluegrass State. That feels like a nice trade-off. To that end, Kentucky generated $43.2 million in Year 1 from sportsbooks operating in the state. That is with both online sportsbooks and retail locations being licensed to operate.

From where we are standing, then, it seems overly ambitious to think online sports betting in South Carolina can generate up to $100 million in tax revenue. Over time? Perhaps. As we have already mentioned, sports betting in the USA remains on the rise. And it does not seem to be nearing its cap. A half-decade from now, South Carolina sports betting could absolutely be worth nine figures per year.

But let us be blunt: It is not happening from the outset. So unless Murphy plans on appealing to the long-term financial implications, he may have a tough time selling his South Carolina sports betting bill to existing skeptics.

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