Step by slow step, Ohio lawmakers’ inch closer to approving sports betting. The latest modification, approved by a state gaming committee, permits casinos to submit an application for a retail sportsbook.
If passed as is, the bill would open up online licensure to all 11 casinos and racinos. Look for the usual sportsbook names to seek licenses: BetMGM, Barstool, FanDuel, PointsBet, and DraftKings to name a handful.
Under terms of the bill, 20 Type A licenses for the four casinos and seven racinos can contract with an unlimited number of mobile apps. The 20 Type B licenses for brick and mortar sportsbooks can also be awarded to casinos or racinos.
Each online license holder can also contract with an unlimited number of sportsbook partners, which will likely create one of the largest sports betting markets in the country, according to The Action Network.
One of the oddest elements to the bill permits non-gaming concerns to hold a license, even Ford Motor Company… theoretically.
It remains to be seen which entities will apply, or ultimately be eligible to do so, but the bill’s proponents believe this will help spark controlled sports betting participation beyond the established brick-and-mortar gaming establishments.
Under the legislation, license holders would be charged a $1 million fee renewable every three years. The fee could keep smaller, less lucrative businesses away. Online and retail sports betting gaming revenues would be taxed 10 percent, the median national average.
The Casino Control Commission would oversee the sportsbooks. Lawmakers also require commissioners consider regional distribution so license holders are spaced out throughout the state.
The bill would also legalize e-bingo at fraternal and veterans’ organizations, according to the Statehouse News Bureau.
The House and Senate split last year over control between the Commission and the state lottery, a split that helped tank 2020 sports betting efforts. To soothe ruffled feathers after lawmakers tapped the Commission over the lottery, the latter will offer be able to offer sports betting options.
Sponsors hope the bill mollifies sportsbook operators, casinos, sports leagues, small businesses and other entities that lobbied for sports betting rights. Still, someone is likely to be upset at the final bill.
