After a long struggle the last few years in the U.S. to legalize sports betting, this form of entertainment is finally available in the state of Ohio.
However, another important step was taken by Governor Mike Dewine who finally signed House Bill 29 (HB29) and thus legalized sports betting in the Buckeye State. But why did it all take so long?
In May 2018, the Supreme Court overturned PASPA which further complicated this process and led to a couple of failed attempts to legalize this form of entertainment.
Although the Ohio House and Senate, meanwhile, did their best to legalize sports betting by passing a series of laws, no attempt succeeded until the signing of HB29.
The draft law stipulates that players will be able to invest their money in sports betting until January 1, 2023, but on the other hand, Ohio Sen. Kirk Schuring (R-Jackson Township) hopes the Punters from this state will get a chance to do so sooner.
Under the new law, players will be given the opportunity to bet on college and professional games.
Words From Representatives
Ohio Sen. Kirk Schuring gave his comment so he said: ” We want to get this up and running as soon as possible, but we’re building a whole new industry. We’re hoping it can be done sooner [than 2023]. ”
Casinos, stadiums, bars and restaurants will also have the opportunity to apply for gambling licenses after the law is introduced, and whether they will be allowed to do so will be decided by the Ohio Casino Control Commission.
Rick Anthony, Ohio Casino Control Commission continued and said, ” We have a year, and we don’t feel a year is needed. Because of the across-the-board universal start date, including the retail components in the bill, we feel it will be the date. ”ill), Caesars Entertainment’s Horseshoe Casino (Baltimore), Cordish Companies’ Live! Casino & Hotel (Hanover), as well as the Penn National’s Hollywood Casino (Perryville).
What Do Others Think About Ohio Market?
Catena Media-owned PlayOhio recently announced that it believes the Ohio market will be one of the strongest in the US. It is predicted that this market will be able to guarantee $900 million in gaming revenue in a year, $12 billion in bets, but also $90 million in Ohio taxes, which is only 10%.
However, for all this to be possible, experts say that the market must first “mature”.
’’Ohio Governor Mike Dewine signs House Bill 29 into law’’, gamingamerica.com, 23. December 2021.
The post Ability to Wager on Sport in the Buckeye State Will Be Accessible by 1 January 2023. first appeared on RealMoneyAction.com.