Ohio Sports Betting Bill Signed by Gov. Mike DeWine, 33rd State to Legalize

Ohio sports betting is officially legal, though it will follow some clip until the number 1 sound wager is placed.

Ohio Gov. Mike DeWine (R) signed House Bill 29 in conclusion night. The lawmaking allows casinos, racinos, and professional person sports stadiums to seek retail and roving sports betting licenses. Bars are permitted to partner with third-party gaming firms such as DraftKings and FanDuel to station self-service sports betting kiosks inwards their establishments.

The statute allows oddsmakers to tender lines on professional person and college sports, plus esports. The measure to boot allows the Buckeye State Lottery to partner with a sportsbook business firm and come in sports wagering kiosks inward watering holes, convenience stores, and restaurants.

With DeWine’s signature, Ohio River becomes the 33rd country to flip a sports betting visor since the US Supreme Court gave states such rights with its turning point sports betting ruling inwards May of 2018.

Second Half 2022 Launch

DeWine signing the sports betting bill is a monumental daylight for Ohio’s gaming industry. But gamblers wishing to station a bet on the OH State Buckeyes for the upcoming Rose Bowl Game won’t hold a legal outlet inward time inward their home state.

Before sportsbooks put up open, the Ohio River Casino Control Commission (OCCC) is tasked with determining rules and regulations that testament oversee the expanded gambling. The only if concrete detail, on with sanctioning betting on pro, college, and esports competitions, is that porcine revenue from sports play testament live subjected to a 10 percent tax. The majority of that money will go to K-12 public education.

HB29 requires that such operations lead live before Jan 1, 2023. But lawmakers expect the first-class honours degree sound wager to live made around the midsection of 2022.

We require to let this upward and running as shortly as possible, but we’re building a unit unexampled industry,” Sen. Kirk Schuring (R-Canton) explained to the Cincinnati Enquirer.

Upon securities industry maturation, the OH Legislative Robert William Service Commission projects that around $3.35 billion will live wagered on sports inwards the nation apiece year.

Licensing Costs, Details

While the state casino military commission will dictate governing rules for sports betting, HB29 exercise set out the associated costs interested businesses will need to pay for such rights.

Casinos, racinos, and sports stadiums will want to compensate a one-time $2.5 zillion fee to the country inward exchange for a Type A sportsbook license. The permit allows such entities to build an on-site sportsbook and partner with upwardly to deuce online sportsbooks.

The first of all peregrine sportsbook peel runs an additional $3 million. The secondly costs $10 million.

Forty Type B licenses are available for brick-and-mortar small businesses such as convenience stores and restaurants. They cost betwixt $90,000 and $140,000 depending on the location and associated population.

Finally, HB29 sets by 20 Type c licenses for restauranteurs and chains that allows them to localise sports betting kiosks operated by the OH Lottery into their locations. Since most of the revenue generated by the kiosks will move to the state, Type c licenses cost only $1,000 per location.

All of the licenses bleed for quint years. Renewal rates will be exercise set past the OCCC.