Ohio just legalized sports gambling, but it will be several more months before you can place your first bet on the Bearcats and Bobcats or Cavaliers and Crew.
Gov. Mike DeWine signed House Bill 29 into law Wednesday, kicking off rulemaking that will allow Ohioans to place bets on professional, college and esports by Jan. 1, 2023 at the latest.
“We want to get this up and running as soon as possible, but we’re building a whole new industry,” said Sen. Kirk Schuring, R-Canton. “We’re hoping it can be done sooner (than 2023.)”
But crafting rules and regulations surrounding a new industry will take months, according to an Ohio Casino Control Commission presentation. The commission estimates it will start accepting applications for businesses that want to offer sports betting in the summer or fall of 2022.
The law was made possible by a 2018 U.S. Supreme Court decision that allowed states to set up their own rules on sports gambling. Ohio follows 32 states, and most of its neighbors, who have already legalized sports betting.
Ohio’s sports gambling market is expected to be $3.35 billion after several years of operation, according to an Ohio Legislative Service Commission estimate.
A 10% tax on net revenue from sports betting could bring in $7 million during the first half of 2023 and $24 million in the first full fiscal year, according to that analysis. Most of that money, 98%, is earmarked for public and private, K-12 education. The remaining 2% goes toward problem gambling assistance.
Casinos, racinos, sports teams and local bars who want to offer some form of sports betting must also pay application fees, which will likely exceed $10 million statewide in the program’s first months. A portion of those fees, 0.5%, will go toward helping veterans and their families.
Some, including Cincinnati Mayor John Cranley, would rather all proceeds from sports gambling go toward K-12 education.
“Just because the house always wins doesn’t mean public schools should always lose,” said Cranley, a Democratic candidate for governor.
He said having the Ohio Lottery Commission oversee the new industry was the right – and constitutional – thing to do.
Schuring, a key negotiator on the bill, disagreed. “The Constitution is silent to sports gaming, pure and simple.”
Those who want to offer sports bets in Ohio will need to apply for licenses with the Ohio Casino Control Commission. The five-year licenses are divided into three types:
Ohio’s eight professional sports teams and two events – NASCAR and PGA – and its four casinos and 11 racinos are expected to apply for licenses.
Jessie Balmert is a reporter for the USA TODAY Network Ohio Bureau, which serves the Akron Beacon Journal, Cincinnati Enquirer, Columbus Dispatch and 18 other affiliated news organizations across Ohio.
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