Ohio Sports Betting Bill Steams To Life And Moves Through The House

The introduction of sports betting across the entire state of Ohio is approaching.

The sports betting bill has been approved by the state’s House of Representatives and is now proceeding to the Ohio Senate. The objective is to present the bill to Gov. Mike DeWine by this fall.

The bill, stagnant for months, finally progressed out of the committee on May 27. The next day, the House promptly conducted a vote, resulting in the bill’s approval with an 83-10 majority.

The advancement of sports betting in the Buckeye State has been sluggish, but it’s finally starting to gain momentum. Nevertheless, numerous obstacles still need to be overcome before it can be legalized in Ohio.

Ohio has a second sports betting bill.

The state Senate, currently pondering on a different bill, continues to challenge the House bill, directly counteracting the plans of the House.

So, what sets the two bills apart? Essentially, it’s about the destination of the tax revenue from sports betting.

The proposed House bill indicates a 10% tax rate on sports betting, with the tax revenue designated for elementary school education. The industry would be supervised by the Ohio Lottery Commission.

The Senate’s proposed bill suggests a different approach, recommending a lower tax rate of 6.25%. It plans to direct the revenue towards Ohio’s general fund, which oversees the state’s daily operations. The proposed bill would also grant the Ohio Casino Control Commission control over the industry’s administration.

In comparison, Indiana imposes a 9.5% tax rate and is under the regulation of the Indiana Gaming Commission. The Senate bill proposes that Ohio adopt a system akin to Indiana’s, where a single regulatory authority oversees both its casinos and sports betting operators.

The two bills have been under discussion for over a year. Until now, no hearing had taken place for either bill since the preceding November.

In May 2019, Governor DeWine held a meeting with the sponsors of two bills. After listening to the presentations from both sides, he decided to support a portion of the Senate’s proposal.

However, DeWine has since shown hesitation to further involve himself. This has resulted in progress coming to a standstill and developments significantly slowing down.

The House bill, which has finally been approved, now has the possibility of advancing through the state’s Senate. Talks are anticipated to occur in the upcoming weeks.

Indiana’s advantage in the Midwest will gradually be reduced by Ohio.

Ever since sports betting was introduced in Indiana last fall, the Hoosier State has become one of the country’s biggest markets.

Without a doubt, the absence of competition from its neighbors has been beneficial.

Until recently, Indiana was the sole Midwest state to legalize sports betting. This gave it a significant advantage as residents from surrounding states had to travel to Indiana to place their bets.

Betting had finally begun in Michigan and Illinois, until nationwide casinos were compelled to shut down due to COVID-19.

Currently, only the physical casinos in Michigan and Illinois accept bets. Both of these states have not yet introduced mobile or online betting.

At present, this maintains a significant portion of Indiana’s advantage, but it will inevitably change in the future.

People from various states are allowed to visit Indiana and place bets on any of the state’s online sportsbooks. This is convenient for those who live near the state border.

As long as residents of Michigan and Illinois cannot place bets from their own homes, Indiana will keep profiting from additional business.

The last two neighboring states of Indiana that have not introduced sports betting are Ohio and Kentucky.

The advancement in Ohio highlights that Indiana’s supremacy in sports betting won’t be eternal. With the extension of sports betting throughout the Midwest, Indiana will probably see a decrease in the volume of out-of-state guests visiting for sports betting.