Oklahoma Education Lottery Act; authorizing board of trustees to enter into agreements or contracts for the implementation of sports pools; promulgating rules; authorizing development of certain criteria; providing for licensing fees; creating the Sports Pools Fund. Effective date.

SB 164 authorizes Oklahoma's lottery commission to implement sports betting pools under the Education Lottery Act, directly affecting retailers seeking to offer this service. It requires the commission to establish licensing criteria for retailers, collect licensing fees, and create a dedicated "Sports Pools Fund" to channel these fees toward education programs. The bill mandates annual reporting, internal audits, and rulemaking for this new program while repealing a prior prohibition on sports-contest-based gaming. This legislation expands the state's lottery offerings to include regulated sports betting, with revenue flowing to educational initiatives.