A bill to legalize sports betting has officially been introduced in the state of Ohio that could allow 20 land-based and 20 online licenses as well as an offering from the lottery.
Two types of license are permitted under the new legislation, which would open the market within the state in January of next year, with the new bill allowing for betting on any professional sport or athletic event, collegiate sport, Olympic or International Sports competition event.
Niraj Antani introduced Senate Bill 176 detailing the legalization and regulation of the sports betting market, which could possibly open within the state in January 2022.
The new legislation permits two types of license with Type A licenses allowing vendors to offer sports betting through an online sports pool under one brand name each, with a single controlling person not being allowed to obtain more than five of these licenses.
Sports gaming agents are permitted by offer sports gaming at one retail facility with a Type B license which is capped at a maximum of 20 per vendor.
The license types both require a non refundable US$1m license fee, deposited into the Sports Gaming Revenue Fund as well as a US$10,000 non refundable application fee with Sports Betting to be taxed at 10%.
Any professional sport or athletic event, collegiate sport, Olympic or International sports competition event, motor racing and any other special event authorized by the appropriate commission for sports gaming can be bet on with the new bill.
The bill also requires a sports gaming lottery to be operated by the State Lottery Commission, whereby the Commission accepts wagers on sporting events from individuals who are at least 21 and physically located in Ohio. The lottery will be conducted as a pool with participants paying a fixed price of US$20 per ticket with the Commissioner retaining a fixed fee.
The regulation of Bingo is also permitted by the Bill, conducted by charitable/table organizations for charitable purposes.
As long as the proceeds are given to either a public charity a veteran’s organization, a fraternal organization or a volunteer firefighter organization, traditional bingo, instant bingo, raffles and punch boards are all permitted.
The Senate has not yet assigned the bill to a committee or set a date for any hearings.
