Sports Betting Coming To Ohio: Awaits Governor’s Approval

By Matt Speakman,
Betting Expert at online-gambling.com

Matt Speakman Betting Expert at online-gambling.com

A die-hard fan of the Patriots, Matt Speakman is an expert on everything related to sports betting and DFS sites. Over the years, he has proven a valuable asset for our team at online-gambling.com. You can find Speakman's professional tips and tricks in any of his many articles on the website.

• Twitter
• Email

More About Matt Speakman

Last updated: January 10, 2022

Ohio has a final opportunity to add another win in sports betting in 2021, and Ohio is currently on the verge of legalizing sports betting. A while ago, the current legislative measures paid off as the Ohio House of Representatives and Senate passed an amendment to the Sports Betting Act (HB 29), which has anticipated to be signed into law by Governor Mike DeVine shortly.

After the sports betting measures slow-down this summer, Ohio lawmakers continued to perform, reaching a preliminary contract a few days ago. The new vehicle was announced a few days ago, and lawmakers had directed to get it through a meeting panel before it was approved by the House of Representatives (72-12) and the Senate (Jan.31).

Highlights Of The Bill

The Ohio bill states that sports betting is easy for operators and players alike.

The main and final elements of the law are:

• Bill on the legalization of mobile and retail sports betting.
• The regulation falls under the purview of the Casino Control Commission (CAC).
• Players must be 21 years of age or older and reside in Ohio.
• Provide an official championship date for betting support when available and at a reasonable cost.

Licensing and Launch

The Ohio gambling market will go live soon, possibly in the spring of 2022. According to the executive summary of the law, the license application procedure began On January 1, 2022, and the licenses will be given by April 1, 2022.

Classes of Sports betting licenses:

• Up to 25 class A
• Up to 40 class B
• Three to 20 class C.

Legal Bets

The law does not exclude many bets, as it allows betting on professional and college sports, horse racing, international competitions, Olympic, motorsport competitions, and eSports organized by one organization. Illegal bets contain wagers on players under the age of 18 and high school sports.

Class A and B licensees may offer exchange bets, live bets, odds bets, pools, over/under, money line bets, teaser bets, in-game bets, singles, proposition bets, or other authorized types. Class C Licensees have been limited by the type C sports gaming to “spread, over-under, and moneyline” betting on sports matches.

Tax Rates

Sports income (SGR) is subject to 10% tax. SGR is described as profitless winnings paid and bet void. 98% of accumulated contributions will go to a new Sports Education Fund that will have been utilized to help K-12 education, and one-half will have been utilized to help athletics between K-12 schools and other operations.

The law applies to betting issues, as 2% of tax proceeds will go to the New PSGF. In addition, taking gambling into account, the law forms a nine-member ad hoc panel on sports betting and problem. The Special will investigate a number of problems linked to the allocation of funds from the revenue fund and the prevention of forced gambling.

Ohio isn’t Just Another State

With a population of 12 million, Ohio is the 7th crowded state in the US. It was also one of the few to oppose sports gambling in the region. The bill’s structure – an open market with moderate transaction fees – is intended to make Ohio one of the best gambling markets in the USA when it has introduced.