Legal Status
Sports betting is not yet legal in the state of Ohio.
Legislative Progress
There was reason to believe that sports betting would become legal in Ohio last year, but lawmakers have not been able to draft a workable bill. They have been hard at work recently trying to draft legislation. But the latest version has been met with a significant amount of resistance from stakeholders.
The bill has been called “unworkable” for bettors and retailers, and it was severely criticized during committee hearings, making it seem unlikely Ohio will have the necessary legislation anytime soon.
Casino Participation
In the interest of “competition,” lawmakers are looking to make any business in Ohio eligible for a sportsbook license, not just casinos. That happens to be one of the issues with the latest bill. Some of the state’s 11 casinos and racinos already have ties to sportsbooks and want to be guaranteed licenses.
But it at least looks like casinos will have the chance to apply for a license, just like anyone else. With their experience in the industry, it is hard to imagine them getting turned down over a business not related to the industry.
Role of the Lottery
Ohio does have a lottery, and the latest bill calls for lottery retailers to be involved in sports betting. They will be allowed to sell $20 tickets where bettors can select a particular outcome. Every bettor that makes the right choice will get a piece of the pot.
Professional Sports Team Involvement
A coalition of eight professional sports teams (and the Memorial Golf Tournament) has expressed its support of legalizing sports betting in Ohio. The major professional sports teams in Ohio are the Cleveland Cavaliers, Cleveland Browns, Cincinnati Reds, Cleveland Indians, Cincinnati Bengals, Columbus Blue Jackets, Columbus Crew SC and FC Cincinnati.
The coalition members want teams to get their own licenses for online betting and for retail betting. They are also advocating for mobile betting and for a retail location to be allowed in-stadium or close to stadiums.
Licensing
The state is talking about going with an open market, meaning a business entity that wants to and makes a good case could get approved for a license, not just casinos, racinos or sports teams.
Twenty online and twenty retail licenses are expected to be made available.
Annual license fees and associated calculation of tax on sportsbook revenue are still to be determined.
Expected Live Date
There is no legislating calendar restriction in Ohio. But since the legislature is struggling to craft a workable piece of legislation, it is hard to imagine sports betting is legalized in Ohio anytime soon. However, if lawmakers can stick to their looming deadlines, there is hope sports betting could go live early in 2022.
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