Will Ohio’s sports betting bill be passed by the end of June?
The Ohio Senate is sticking to its plan to legalize sports betting in Ohio by the end of this month.
Sen. Kirk Schüring, Chairman of the Senate Committee on Gambling, held a brief meeting Wednesday Afternoon to introduce a replacement bill. The committee met again Thursday Hearing testimonies mostly from problematic gambling groups and people focused on electronic bingo.
A committee hearing too SB176 is planned for Tuesday for diplomas and to consider amendments that were previously submitted to Schuring 4 p.m. Friday.
Schuring hopes Tuesday will be the start of a quick road to legalizing OH sports betting:
“Our goal is to vote on the bill on Tuesday, bring it to the Senate on Wednesday and move it to the House of Representatives because we want to do something by June 30th.”
Major changes to Ohio mobile sports betting licenses
The potential mobile market created as part of the Ohio sports betting proposal is quite different after the replacement.
SB176 allowed now only two mobile skins for each Type A. License instead of unlimited. The license holder can start an app and apply for a second one after a year.
The name of the license holder must also appear on the mobile app, similar to mobile Illinois Sports betting. This Illinois law resulted in several name changes to the casino to include brands such as. to keep DraftKings Sports Betting and FanDuell sports betting front and center.
Type A licensees also can’t trade or sell sports betting access in Ohio, Schuring said. This could be problematic as market access agreements are already in place with Ohio.
Penn National and Rush Street Interactive traded in February access to several states, including entry to Ohio for BetRivers as a second skin.
Other changes in the ancillary calculation
Schuring also made a few other changes to sports betting:
- Type A and B licensees and their sports betting providers must pay now $ 500,000 in years two and three of his license, along with the $ 1 million License fee. These funds will be used for education and problem gambling, said Schuring.
- Fixed odds horse racing betting can be done through mobile and retail sports betting. Schuring didn’t specifically mention fixed odds, but the substitute still says pari-mutuel betting isn’t a sports game.
- Sports Bets are allowed as a betting option.
- There is no tax deduction for advertising credits through the through first five Years. That increases to 10% for years five to 10 and 20% of 11th year on.