South Carolina Betting Legalization to Benefit the Equine Industry

South Carolina is one US state that is yet to legalize sports betting. Currently, there are no legal options for retail or mobile sports betting in the state. Yet, some users are still placing wagers either by using applications that enable them to show in different states or worse, by using the services of unlicensed operators.

In a state such as South Carolina, which is famous for its equine industry, legal betting is expected to bring benefits such as tax revenue, which is one reason why some lawmakers support the legalization of the activity. House Bill 3514 (HB 3514), a proposal titled the Equine Advancement Act, calls for the development of an advance-deposit wagering system for the Palmetto State. This system would enable bettors in the state to add funds to their accounts before placing a sports wager.

Introduced back in January this year, HB 3514 gained some traction in the spring. The proposal successfully passed the House Judiciary Committee. Now, its next destination is the South Carolina Senate where it is set to arrive next year in January. Ahead of the Fall Steeplechase in Aiken, scheduled for November 18, 2023, stakeholders highlighted the importance of advancing the legalization of sports wagering in the state and the benefits it may bring.

The State Misses Out on Sports Betting Tax Revenue

Frank Mullins, Aiken Steeplechase Association’s president, who was recently interviewed by WRDW/WAGT, spoke about the challenges the equine sector faces. He explained that the maintenance of the sector represents a significant financial investment. “Just to paint the fence is to cut the grass, drag the track, all the fertilizer, I can say that from the operation that we run, it is very maintenance intensive,” added Mullins.

Speaking about sports betting across South Carolina, he outlined that it is already happening. Moreover, Mullins warned that there’s a lot of money wagered online on sports, but the state doesn’t receive a share of that revenue because of the missing sports betting legislation.

“There’s a lot of money that’s being wagered in South Carolina, but we don’t get any cut of it, and we don’t regulate it.“

Frank Mullins, president of the Aiken Steeplechase Association

Besides creating an advance-deposit wagering system, HB 3514 proposes the establishment of an Equine Industry Development Fund. As the name suggests, the Fund is expected to provide vital support for horse racetracks just like Aiken Training Track.

Bill Gutfarb, Aiken Training Track’s president, explained that the legislation would positively impact the equine industry in the state. He predicted the proposal would help the sector grow by attracting horses and trainers. Finally, Gutfarb spoke about the importance of discussing the topic with lawmakers and supporting the change.