Sports betting in the Buckeye state is expected to launch in January 2023. The state of Ohio is currently in the process of completing the legislation regarding online sports betting. Governor Mike DeWine has signed the bill, and a regulatory framework is all that is left to establish regarding the new market. Currently, punters can only wager on horse racing.
The Casino Control Commission would begin accepting applications from gambling operators in June. There is a good chance of sports betting going live during the NFL season, but all hands are crossed for Jan 1, 2023. Additionally, sports betting is predicted to generate over $1.1 billion when it launches, and subsequently, this revenue would go up to $3.3 billion.
In this betting guide, we'll be discussing the current situation of sports betting in Ohio. There will also be an FAQ section where we will meet your crucial concerns with the most efficient solutions.
Laws Governing Sports Betting in Ohio
The journey to legal sports betting in Ohio began after the Supreme Court ruled that the Professional and Amateur Sports Protection Act (PASPA) is unconstitutional. This decision gave the state of Ohio the ability to decide on its own sports betting laws.
However, the initial attempts to legalize sports betting in Ohio failed until 2021, when state Senator Kirk Schuring introduced a bill eventually signed into law by the Governor of Ohio, Mike DeWine.
However, here is a concise view of what the Ohio sports betting law means;
- The state would provide a three-tiered system to license betting outlets. Type A is restricted to online apps, with a maximum of 25. Type B is set for retail facilities, with a limit of 33. Lastly, Type C provides a license to facilities with a liquor license to offer betting services via kiosks.
- The betting Bill gives the Ohio Casino Control Commission charge of licensing and regulation of prospective betting websites.
- The tax rate is set at 10% on sports betting revenue.
- Bettors willing to place sports bets should be at least 21 years to access this iGaming product.
- Players must be residents in the state of Ohio at the time they’re wagering.
- Key personnel from college or pro sports teams, including coaches, players, trainers, referees, and other officials, cannot engage in sports betting.
- Bettors must have a valid deposit and withdrawal method