Legal sports betting is rapidly spreading throughout the U.S. and as of now, 19 states have legal sports wagering. Unfortunately, thousands of sports bettors are still waiting for it and it will probably not happen this year. However, Ohioan gamblers, are still hoping to have Legal Sports Betting in Ohio before the end of the year.
According to the latest Bookie Software news, State Senator Sean O’Brien believes it has a 50/50 chance of happening. Senator O’Brien, one of the main sponsors of the bill to legalize sports wagering in Ohio believes it is a possibility. This is because Senate Bill 111 has been around for almost two years and is ready to become law.
The legal sports betting bill has undergone many changes since its inception. “We are on dash-17 on that bill, substituting and changing things” said O’Brien. Furthermore, he spoke the senate and that there is a good possibility that it will pass.
However, it is all a matter of timing since the legislative calendar is almost over.
Legal Sports Betting in Ohio
If Senate Bill 111 becomes a law, sports betting in Ohio will be run by the Ohio Casino Commission. However, only existing casinos and racetracks will be able to get a sports betting license. Therefore, in order to be an online bookie in Ohio, sportsbooks will have to make a deal with them first.
According to Pay Per Head blogs, the initial fee to obtain a sports gambling license in Ohio will be $100,000. However, the fee is only for the first 5 years. In addition, sportsbooks will also have to pay an 8% to 10% tax on their net gambling revenues.
The setup for running an online sportsbook will be done via skins for their websites. Thus, a casino would have a sports betting skin and an online casino skin. Of course, these gambling websites would only be available to residents of Ohio.
If the sports wagering bill does not pass this year in Ohio, then they will have to reintroduce it again. However, since most of the work is already done, it will probably be just a matter of voting on it.
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