Sports betting has a chance of coming to Ohio, with legislation proposing its regulation introduced in the state.
If the bill is passed, online and land-based sports wagering would become legal – with the state lottery also permitted to offer the vertical.
No committee has been assigned for the legislation, while the Senate also has yet to set any hearing dates.
What would the bill entail?
If Senate Bill 176 passes the necessary steps, 20 online and 20 land-based licences would become available – in addition to the Ohio Lottery.
Aspiring permit holders would be able to apply for two different licences. The first, Type A, would enable sports betting to be offered by vendors online. They would be able to offer these games through one brand name per licence holder in an online pool.
Single companies are allowed to apply for a maximum of five Type A licences.
Meanwhile, Type B licences would enable sports betting to be offered at a retail location. Vendors can apply for a maximum of 20 of these each.
Applicants would need to pay $1 million for either of these licences, which is not refundable. To apply, there is an additional charge of $10,000.
The licence fee would be placed in the Sports Gaming Revenue Fund.
A tax rate of 10% will apply to all permit holders for sports betting in Ohio.
Players in Ohio would be allowed to wager on professional sports, as well as college events.
The State Lottery Commission would also need to offer sports betting via a lottery, where players pay $20 to enter a pool.
Players in the Buckeye State would need to be at least 21 years of age to wager on sports within state borders.
The earliest that sports betting would be allowed to commence in Ohio would be the beginning of 2022. Licences are also on a first-come, first-served basis.
Ohio attempted to legalise sports betting in 2020. However, it fell short.
House Bill 194 came close to coming into effect, but proposed changes came too late in the legislative session for them to be implemented.