Sports

Ohio might be on the brink of Sports Betting Legalization

A bill to legalize sports betting, allowing 20 physical and 20 online licenses, plus a lottery offer, was introduced in Ohio in May 2021. Under the new legislation, which would open the market in January 2022 in the state, two types of licenses are allowed. The new law will enable you to bet on any professional sport or athletic event, collegiate sport, Olympic event, or international competition.

Bill 176 of the Senate was presented by Niraj Antani and details the legalization and regulation of the sports betting market, which may be inaugurated in January 2022 in the interior of the state. Websites are now enticing new customers with generous bonuses and promotions as they wait for the legislation to go through.

Two types of licenses are allowed under the new legislation. Type A licenses enable providers to offer sports betting through an online sports pool under one brand each, with a single controlling person not able to obtain more than five of these licenses.

Type B licenses (limited to a maximum of 20 per vendor) allow sports game agents to offer sports games at a retail facility. Both types of licenses require a $1 million non-refundable license fee deposited with the Sports Gaming Revenue Fund. There is also a non-refundable $10,000 application fee. Sports bets will be taxed at 10%.

The new bill allows betting on any professional sport or athletic event, college sport, Olympic or international sporting competition event, motor racing, and any other special event authorized by the appropriate sports commission.

The bill also requires the State Lottery Commission to operate a sports game lottery whereby the Commission accepts bets on sporting events from individuals at least 21 years of age and physically located in Ohio.

The lottery will be conducted as a pool in which participants pay a fixed price of US$20 per ticket, and the Commission retains a fixed fee.

The bill also allows for the regulation of bingo “conducted by charitable organizations for charitable purposes.”

Traditional bingo, instant bingo, raffles, and drilling boards are allowed as long as the proceeds are donated to a public charity, a veterans organization, a fraternal organization, or a volunteer firefighters organization.

State Governor Mike DeWine is one of the proponents of legalizing sports betting in the state of Ohia. The governor has already pointed out that the games will be legalized in November 2020. As of June 30, the state has been defining the possibilities of legalization in the committee and passing new laws for an appropriate jurisdiction in the sports betting environment.

The US can become a world reference in the betting market

A survey showing how US industry players can increase the potential for legal sports betting in the country. The information contained in the report was broadcast on the SBC Americas portal.

The document was prepared based on consultation with operators, suppliers, and regulatory bodies, aiming to establish the main challenges that the industry has faced since its early days. The conclusion pointed out was that technology, education, and responsible gaming will be decisive for the US to become the largest sports betting market in the world.

PointsBet Director, Patrick Eichner, heard during the drafting of the report, commented: “Education is a big hurdle in every state you start. And that’s really because sports betting is not a national opportunity; it’s very state-to-state. It’s a new process, and more and more you need to make adjustments to attract the consumer”.

Daniel Graetzer of the Carousel Group also contributed to the production of the survey. “As competition is moving at an accelerated pace, we are doubling products this year, with a significant investment in growing our UX and development teams as we grow from a single state carrier to national.”

Simon Noble of Champion Sports noted: “American sports are perfect for live betting and this, combined with the amount of data available, means players will quickly come to expect these markets and odds, provided the legislation in each state allows them to be offered remotely.”

 

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