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June 16, 2021

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Ohio sports betting bill would allow esports, horse racing wagers

Ohio sports betting bill would allow esports, horse racing wagers
The bill, which was introduced a month ago, includes two types of sports betting licenses, Type A and Type B. Twenty licenses of each type will be available for interested parties.
United States | 06/11/2021

The Ohio Select Committee on Gaming accepted a sub-bill on Wednesday, and heard testimony on the bill the following day. An additional meeting has been scheduled for June 15, to take up amendments and hear additional testimony. A total of forty licenses will be available, and a 10% tax rate will be set on sports betting revenue.

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n case Ohio online sports betting is approved state gamblers will have the chance to place online and in-person bets on E-sports and horse racing.

The Ohio Select Committee on Gaming met Wednesday and accepted a sub-bill SB 176, which contains updated language for the state’s sports betting bill. June is the deadline set for the sports betting bill, according to Saturday Tradition.

Senator Kirk Schuring (R-29) unveiled the bill’s updates:

  • Management service providers will pay a non-refundable fee of $500,000 for both Type A and Type B licenses in years two and three. The initial fee for a license is $1 million.
  • The $500,000 non-refundable fees will go towards education and problem gaming.
  • Betting on E-sports will be allowed.
    Betting on horse racing will be allowed through online apps and in sportsbooks.
  • Management service providers may hold two Type A licenses. After having the first for a year, the provider may apply for a second.
  • Betting on events that include participants under the age of 18 will be prohibited.

The committee met again on Thursday at 10 a.m. to hear testimony on the bill. In addition, an additional meeting has been scheduled for June 15, to take up amendments and to hear additional testimony.

The bill, which was introduced a month ago, includes two types of sports betting licenses. Type A licenses will include state entities that have the ability to bank a bet, such as the state’s 11 casinos and racinos. Type B licenses will be for future brick-and-mortar sportsbooks. Twenty licenses of each type will be available for interested parties. A 10% tax rate will be set on sports betting revenue.

Both license types will allow for online sports betting partnerships. These partnerships will be decided by the free market and no special considerations will be made for any entities in the process.

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