Ohio’s Senate and House have both passed the HB 29 sports betting legislation with a start date of January 1, 2023 earmarked for its launch. Several key changes were made to House Bill 29 before it passed through the Ohio Legislature.
Casinos and racinos will lead the charge along with sports teams and leagues who will all be able to launch one online offering or skin each with a chance to operate a second, if the licensee can prove it will bring tax revenue to the state. The first skin would cost USD3 million with the second pitched at USD10 million.
A limit has been set on 25 skins with mobile and retail betting licenses lasting for five years instead of three years. Sports betting revenue will be taxed at 10 per cent.
Type B licences will be issued for in-person betting at retails stores, costing from USD50,000 to USD100,000. Lottery kiosks will be allowed to take bets on the spread, moneyline and the over/under as well as parlays of two-to-four bets.
Bars can apply for Type C licenses to offer spreads and over/under bets on kiosks.
Senator Kirk Schuring commented: “It’s like negotiating an agreement with the Ohio State Buckeyes, the Michigan Wolverines, the Boston Red Sox and the New York Yankees. None of them like each other and they’re highly competitive.”
Source: GMB
