Ohio Sports Betting Bill Passes Congress, Heads to Governor’s Desk

Ohio sports betting coming in 2022

sports betting Ohio start at the latest January 1, 2023after Congress passed HB29 Wednesday afternoon.

Work on HB 29 proceeded quickly after a delay of nearly four hours.The Congress Committee gave a favorable report on the bill within 5 minutes and took less than 10 minutes accept a meeting report on Senate floor.

The House passed the bill late in the afternoon.

the last task Governor Mike DeWinehas been outspoken about his support for legalizing sportsbooks in Ohio.

Changes to Ohio’s Sports Betting Bill

The modified HB 29 is 225 The page is long, but fortunately Ohio State Legal Services Commission I have uploaded a summary of the amendments agreed by the conference committee.

A key bargaining point that has dragged this issue on for months centered around mobile sports betting. Under the original bill, sports leagues and teams each allowed him to get only one skin, while Casino and Racino allowed him to operate two skins.

Now these teams, leagues, casinos and racinos can launch 1 Chance to skin each The secondA second skin can be launched, but the licensee must prove it brings economic benefits to the state.

There could be more than 25 mobile licensees, as long as applicants can demonstrate that Ohio needs more online sportsbooks. Licensees approved after the first 25 will only get one skin each.

Another important note is that the tax system has not changed.Sports betting earnings are taxed as follows Ten%.

Other adjustments for HB 29

Aside from the mobile betting update, there have been some changes.

  • Mobile and retail betting licenses are Five years instead of three.
  • Current, Ohio Casino Regulatory Commission Establish rules for the size and cost of retail sportsbooks. Instead, applicants include that information in their application.
  • Eligible lottery retailers that wish to host sports betting kiosks and are recommended by the State Lottery Commission must be approved.those retailers 20 Before.
  • Lottery kiosks can accept spread, moneyline, over/under bets and parlays of 2-4 bets.
  • Bettors are limited to $700 per week At bets at lottery kiosks.
  • official league data No longer required for live betting.
  • Sports betting in Ohio must start by January 1, 2023, but can start earlier than the date set by the regulator. A Provisional Gaming License may be granted in the following ways: June 30, 2023.
  • Businesses can no longer carry forward negative earnings for tax purposes.
  • The provision allowing sportsbooks to bet on horse races has been removed.bet on pros esportsmeanwhile, was included in the bill.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *