(The Center Square) - Oklahoma Governor Kevin Stitt unveiled a proposal Thursday that would legalize sports betting in the state and tax the revenue at the retail level at 15 percent and mobile betting at 20 percent.

Only federally recognized tribes could conduct retail sports betting, which would require an update to their gaming compacts.

Mobile sports wagering companies would pay an initial licensing fee of $500,000 and an annual fee of $100,000.

“I promised Oklahomans if we pursued sports betting, we would do it right— and this plan does just that,” Stitt said. “Thirty-five states have already legalized sports betting, and it’ll be a great revenue stream for the state. Tribes will be able to add it onto their existing infrastructure, and Oklahomans can access it right from their phone.”

Stitt said he would ban betting on individual athlete's performance or player injuries. The governor said he is waiting for input from collegiate conferences.

Lawmakers have previously rejected bills to introduce sports betting. A bill by Rep. Ken Luttrell, R-Ponca City, was defeated in 2022.

Two of Oklahoma's neighbors allow sports betting. Colorado legalized it in May 2020 and has brought in $50.1 million in revenue since then, according to according to the website Legalsportsreport.com. Arkansas has brought in $7.9 million since July 2019.