Bill > SB2081

This bill allows charitable organizations to host and participate in wagering events, provided they are held on organizational premises, for charitable purposes, and meet specific conditions, including that all participants must be 18 or older, individual winnings and prizes are capped at $1,000 per ninety-day period, and events are one-day, in-person, private affairs without advance bookings or credit use. Charitable organizations must report winnings exceeding $1,000 per quarter to the Oklahoma Tax Commission, and individuals must report all winnings on their income taxes, with the Oklahoma Tax Commission responsible for creating necessary rules and tax forms. The bill also permits individuals to host and participate in private wagering events in their residences, with similar age and in-person requirements, but with a limit of two events per month, individual wagers capped at $100 per day, and total prize pools not exceeding $1,000 per event, and hosts cannot profit from these events; failure to report taxes or winnings from private events can result in a misdemeanor penalty. Both types of wagering events exclude high-stakes games, casino gaming, electronic devices, online betting, and certain animal contests, and the bill specifies that these provisions will take effect on July 1, 2026, with an emergency clause for immediate implementation.

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http://www.oklegislature.gov/BillInfo.aspx?Bill=sb2081&Session=2600