Ohio Sports Betting Bill a Model for the Other States

Ohio Sports Betting Bill a Model for the Other States

The Ohio sports betting bill allows betting on college and professional sports. According to bookie pay per head experts, it could be the standard of sports wagering laws in other states.

The Ohio Senate and House approved HB29 that legalizes betting on professional and college sports and eSports events. Also, the bill provides 25 Class A licenses for casinos and online betting operators. Type B licenses are for in-person wagering at retail stores.

Lawyer Daniel Wallach runs a law office dedicated to sports betting and gaming laws. He figures the enactment will permit more puts down to make a bet in Ohio contrasted with some other states in the country. In addition, it makes starting a sports betting website in the state easier.

Ohio Sports Betting Bill

Ohio Sports Betting Bill a Model for the Other StatesWallach adds that he thinks HB29 will be “the most common and broad betting as far as the number of areas, and the number of administrators in the United States.”

A ten percent duty would be assessed on the sports betting industry. Proceeds of the sports betting tax will fund the state’s public schools.

Contrasting states and lawful games betting like Michigan and Illinois, Wallach said those states see between $800 million and $1 billion every month.

Sports betting revenues tend to be around six to eight percent of the handle. Also, operators could earn revenues up to $1 billion, especially when setting sportsbook odds correctly. The state would earn around $100 million annually based on the ten percent tax rate. If Governor DeWine signs the sports betting bill, the wagering market will launch on January 1, 2023.

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