New sports betting bill is being considered by lawmakers of Ohio

A new sports betting bill is being considered by lawmakers of Ohio. It is not surprising though, given the current trend. Once passed, this bill would legalize land-based as well as online sports betting. Operators and bookies can now ensure better services to customers too. This bill has been put forth by two local senators, John Eklund, and Sean O’Brien.

As per their report, this bill, also called SB111 shall make amendments to allow 11 casinos and racinos in Ohio to offer online as well as offline sports betting services. They shall operate locally though. This SB111 is also meant to serve remote sign-up services for players acting as introductory sports betting bill.

Conditions for Entry

Any operator that wishes to go ahead with these new services will have to comply with an authorization fee. It is set to $100,000 or €75,000/€88,300 in other currencies. Only when they have obtained a license, they can go ahead with it. They can, if they wish, collaborate with other operators, form partnerships for sports betting services.

It has been also mentioned in SB111 that these casinos and racinos will have to comply with a 6.25% tax on the total income of the firm. However, some charges have also been omitted, such as integrity fees for holding professional sports competitions. As it turns out, this has made everyone happy.

Ohio was the only state post the PASPA repeal to not have a legalized sports betting policy in the entire US. Because, this is a highly demanded service, the senators want to legalize it as soon as possible. The details of the bill are listed below.

  • The minimum age for betting should be 21.
  • Employees of sports betting businesses cannot participate in bets.
  • Sports operators can use both mobile apps and websites.
  • All websites must be operated by the company themselves, and the hosting servers should be within legal US facility.
  • Customers must open online accounts under their valid names only.

In addition to this, the Ohio Casino Control Commission will further address the following points

  • Issuing of certificates for sports betting purposes.
  • Setting conditions for opening new sports betting businesses.
  • Collecting a one-time $10,000 fee for the certification, and a five-year fee of $100,000, post five years of operation.
  • Handling possible contracts with licensed management providers for sports betting purposes, those involving an online pool.

So, things have been well thought and put forth in the bill.

State of Affairs in Other US States

Ohio is the latest US state to put forth a bill to legalize the sports betting business. Pennsylvania approved this law just a few months ago allowing Hollywood Casino and Parx to test out their systems for the first time. In August of 2018, West Virginia passed this law and made sports wagering services legal in the state. It is worth mentioning that two other states, Kentucky and Indiana also have in place a system that is very close to complete legalization of sports betting and operators.

“Sports betting services to local customers”

When asked about the delay in the process, senator Eklund had something to say. He put emphasis that being the best is more important than being the first or the last. And, it makes sense too.

On the other hand, President Larry Obhof stressed that such powers should be exercised by voters and not legislature.

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