South Dakota sports betting moves closer to launch
State approves tax changes that see the state legislature vote on amendments.
The South Dakota Commission on Gaming has approved and amended regulations that will see the state’s sports betting proposal move to the state legislature for approval on August 2.
Operators hope for sports betting to be regulated and licensed by the start of the NFL season.
A key feature of the newly approved regulations is a change to federal excise taxes, which will no longer be allowed to be deducted from sports betting revenue totals. Rather, sportsbooks will pay a state tax rate of 9% on all sports betting related income.
Also added to the regulations, which were drafted in May, is a $5,000 application fee that sportsbooks must pay to cover out-of-state travel for background checks and record-keeping commitments.
Sports wagering will only be allowed in Deadwood, the only town in South Dakota with a regulated casino. Even mobile services will be restricted to the town, with bettors having to register in person.
The law that legalized sports betting, Senate Bill 44, was signed in March 2021 by governor Kristi Noem after the public voted 58.5% to 41.5% in favor of legalizing the activity.
Following the public vote, the South Dakota Senate approved the law by 32-2, and the house voted 58-8 in favor of the legislation in early March.
Under the new law, any sports betting regulation that is legalized in Deadwood will also become law on tribal casino land.
South Dakota’s neighboring states Nebraska and Wyoming have both recently passed sports betting laws, while Iowa is already a regulated market.
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