Ohio to Join the Ranks of States That Have Approved Sports Betting

It has been in the works for over a year. While the rumblings had died down in recent months, ut was just announced the Ohio state legislature has passed legislation that will allow Ohioans to bet college and pro sports, as well as special events like World Cup Soccer and the Olympics.

At this point, there are still details that need to be addressed. So far, it looks like the state’s sports bettors will be able to wager online and through retail kiosks located in casinos, racetracks, professional sports venues, and some bars/restaurants. For bars/restaurants, the wagering would be limited to very small amounts to be determined.

Sports betting operators will need to submit applications for approval by the Ohio Casino Control Commission. The operators will be expected to pay an application fee and licensing fees to be determined. The tax rate on gross betting revenue will be set at 10% with the funds going mostly to support education and school programs.

While other details are being ironed out, the state is expected to start accepting applications from sports betting operators in the early part of 2022. The list of bookmakers that will eventually receive approval figures to include many of the top U.S. online sports betting providers in the U.S. Though the number of licenses to be issued is still to be determined, the list of prospective licenses includes DraftKings, Fanduel, Twinspires, Caesars Sportsbook, and BetMGM. More information will be disclosed when the application date is set.

Sports bettors will need to be at least 21 years of age to wager. They will also need to place their wagers while physically located in the state of Ohio. There is no word yet on whether or not bettors will be allowed to wager on Ohio’s college teams. However, it is hard to imagine the state would exclude the right for Ohio sports fans to bet on their beloved Ohio State Buckeyes.

The Ohio General Assembly passed a bill with bipartisan support at 31-1 in the Senate and 72 to 23 in the House of Representatives. The bill will now head to the desk of Gov. Mike DeWine where it is expected to be immediately signed into law.

Under the legislation, sports betting is expected to go live by no later than January 1, 2023. In reality, it should happen much sooner. As long as the Ohio Casino Control Commission is motivated to approve license applications, bookmakers can have things up and running within weeks. It would seem to be a certainty that Ohio sports bettors will be able to bet on the Ohio State Buckeyes, Cincinnati Bengals, and Cleveland Browns by the start of the 2022 football season.

More information should be forthcoming after the holidays. For now, Ohio residents can rest easy that at some point next year, they will be able to legally bet on sports without having to leave the state. It’s been a long time in coming, but the time has finally come.