Sports Betting in Ohio – Another new sports betting bill in Ohio has been introduced, but this one has been in the making for months. The biggest takeaway from the latest piece of legislation is that there could be up to 40 sports betting licenses available if this bill becomes legal.
This bill also seeks to expand the current gaming industry in the state by allowing for iLottery and eGaming options. The Ohio Senate Select Committee on Gaming officially introduced this bill on Thursday after meeting on the subject in February.
New hearings on this bill are set to begin as early as May 12, and lawmakers are hoping that a final decision comes in the next few weeks. Ohio has been working on legalizing sports betting for months, but this could finally be the bill to do so.
This is a 252-page bill, and critical details of the legislation will continue to be leaked in the coming days. The Ohio Casino Control Commission would be the regulatory body under this proposal, and that decision has caused plenty of debate in the past.
Different Licenses Available
There will be two different sports betting licenses available, and there would be 20 of each kind available. The cost to obtain an Ohio sports betting license is $1 million, and the license would be good for a three-year time period.
Class A licenses would be available for the current casinos and racetracks that are already in operation in Ohio. These properties would be allowed to form a partnership with a sports betting company to take bets.
A Class B license is available for properties that want to establish a brick-and-mortar sportsbook. These properties can offer prop bets but would not have the same freedom as those in the Class A group.
Governor Continues to Be Positive
Governor Mike DeWine is a big supporter of sports betting and of expanding the gaming industry in Ohio overall. Having the governor on board helps give the lawmakers in the state the extra boost to get a bill past.
DeWine has gone on the record guaranteeing that sports betting would be legal at some point in 2021, but it’s not up to the legislators to get a bill passed. It does help that the legislative session extends all the way until December 31, but there is hope that a bill is passed by the end of June.
Professional Sports Teams Want In
The top professional sports teams in the state of Ohio are in support of sports betting, but only if they are able to profit off of the industry. A number of these teams testified at hearings held over the last few weeks as they want to ensure that they can offer sports betting at their stadiums. Take a look at the NFL Week 1 Picks from the Tipsters at BParlay.com
The gaming committee has had nine different meetings since the beginning of February, and more than 40 witnesses spoke at these meetings. A large majority were in support of launching the industry, but there were many different ideas that were presented.
Some of the top sports betting companies in the US also spoke at these meetings, and it is clear that the state could attract some of the biggest names in the industry.
