This morning, South Carolina representatives Herbkersman and Rutherford introduced a bipartisan sports betting bill; it has been sent to the House Judiciary Committee.
Under the bill, up to 12 mobile sportsbooks would be available in South Carolina, and cryptocurrency would be available for deposits and withdrawals.
COLUMBIA, S.C. – South Carolina could be on the fast track toward legalizing and regulating sports betting after a bipartisan sports betting bill was introduced in the legislature this morning.
South Carolina Introduces Bipartisan Sports Betting Bill
The bill, SC H5277, calls for between eight and 12 mobile sportsbooks in South Carolina. This would put South Carolina’s sportsbook market on par with neighbors including Virginia (10 mobile sportsbooks) and Tennessee (nine mobile sportsbooks).
SC H5277 was sponsored by Rep. William Herbkersman – a Republican – and Rep. Todd Rutherford – a Democrat.
The bipartisan nature of the bill is a good sign for its eventual passage, as other states have seen sports betting turn into a partisan battle. With representatives from both sides of the aisle supporting the bill, it increases its chances of support from the broader legislature.
The bill was sent to the House Judiciary Committee where it awaits further action.
Cryptocurrency A Key Feature In SC Bill
Another key component of the bill is that it would allow for sportsbook deposits and withdrawals to be performed using cryptocurrency.
Currently, only sportsbooks in Wyoming allow cryptocurrency to be used for sports betting; however, it has long been an option at internationally-based online sportsbooks.
Cryptocurrency allows for the nearly instantaneous transfer of funds as well as security and anonymity not available through typical means.
One reason for South Carolina’s inclusion of cryptocurrency in their sports betting bill could be neighboring North Carolina’s decision to include cryptocurrency in their recently-introduced sports betting expansion bill, SB 688.
Other features of the bill include the creation of the Lottery Commission Sports Wagering Advisory Council to oversee regulation, the creation of licensing requirements and procedures, and other regulatory provisions.
Crypto: The Next Big Thing In The Sports World?
Cryptocurrency has seen a strong push in the world of sports recently. The Portland Trailblazers became the first major American professional sports team to sign a cryptocurrency partnership when they partnered with StormX, a cryptocurrency cashback provider.
Another NBA team, the Dallas Mavericks, is currently accepting the cryptocurrency Dogecoin for ticket purchases. The UFC similarly signed a deal – worth approximately $175 million over 10 years – with crypto.com, which included advertisements on fight kits.
Cryptocurrency, despite its relative novelty, is shaping up to be a key component in the future of sports betting. If South Carolina is to pass their new sports betting bill, other states will likely have their collective eyes fixed on their industry.
If the new bill and cryptocurrency betting are successful in South Carolina, it may not be long until other states follow suit.
News tags: Crypto.com | Cryptocurrency | Dallas Mavericks | Dogecoin | House Judiciary Committee | Lottery Commission Sports Wagering Advisory Council | NBA | North Carolina | Portland Trailblazers | SB 688 | SC H5277 | South Carolina | StormX | Tennessee | Todd Rutherford | UFC | Virginia | William Herbkersman | Wyoming
Jerad has been a welcomed addition to the LegalSportsBetting.com writing team. Covering topics regarding the expansion of sports betting in the US, Jerad focuses on legislative efforts, bill signings and other methods for sports betting legalization. Finishing his education as a college baseball player, Jerad has first-hand knowledge of competitive sports, paired with years of personal sports betting as well. As a political science major at the University of Central Florida, Jerad covers the political, legal, and legislative aspects of sports gambling without any issues.