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When Will I Be Able to Bet in Ohio?
Sports fans in the Buckeye State are celebrating the passing of House Bill 29, which has u shered in the time of legal online sports betting in Ohio.
Signed just before Christmas 2021, the landmark legislation paves the way for sports fans to bet on their favorite teams both online and at brick-and-mortar venues in Ohio.
But when does the legislation come into effect? And when are you likely to be able to place your first legal bet in the state of Ohio?
We take you through everything we know about the passing of House Bill 29, so you can prepare accordingly for the arrival of legal sports betting in Ohio.
Is Sports Betting Legal in Ohio?
On December 22, 2021, Ohio became the 33rd state in the United States to legalize sports betting when Governor M ike DeWine signed on the dotted line and entered House Bill 29 into law. While this is undoubtedly welcome and exciting news, Ohioans may be unable to place bets until January 2023.
The signing of the bill is very much the first step towards legal sports betting in Ohio. It’s now over to casinos, sportsbooks, stadia, and other venues (both online and brick-and-mortar) to apply for a gambling license with the Ohio Casino Control Commission (OCCC).
One of the bill’s conditions is that a ten percent tax on net revenue will be implemented. 98% of the tax will be used to fund public and private K-12 education in the state, while the remaining 2% will be reserved for supporting initiatives that support problem gamblers.
When Will Legal Sports Betting Be Up and Running in Ohio?
The agreed bill calls for sportsbooks to launch on or before January 1, 2023. There are three sports betting licenses that Ohio sportsbooks can apply for:
Type A License: A Type A license will be issued to casinos and sports teams operating within the state of Ohio at the cost of up to $2.5 million.
Type B License: From the outset, the OCCC will award 40 Type B licenses for brick-and-mortar betting shops in the Buckeye State at the cost of $90,000 to $140,000, with certain limits on venues in various counties.
Type C License: The OCCC will issue twenty self-service or clerk-operated lottery terminals to be opened in bars and restaurants at the cost of $1,000.
Ohio Sports Betting Timeline
December 2020: Lawmakers in the state proposed various competing versions of the bill to legalize sports betting, but no agreements were made.
May 2021: Senator Kirk Schuring introduced SB176 – a bill that would create 40 sports betting licenses split between brick-and-mortar and online sportsbooks.
June 2021: The Ohio State Senate approved the bill 31-2. The bill was then amended to increase the number of licenses to 53.
July 2021: The summer legislative session ends with no more progress made on passing the bill.
December 2021: Ohio lawmakers overwhelmingly approved sports betting legislation, and House Bill 29 was passed. The bill was officially signed into law by Governor DeWine on December 22.
January 2023: This is the deadline for sportsbooks to have implemented betting in the state, by which time you can celebrate by betting on the NFL and backing the Browns or the Bengals.
An Overview of the Sports Betting Bill in Ohio – What Do I Need to Know?
Given that the bill legalizing sports betting in Ohio is 225 pages long, we thought it would be helpful to bring you up to speed on some of the most important features of the legislation:
- House Bill 29 legalizes betting on collegiate and professional sports, as well as esports.
- Sports betting in Ohio must begin by January 1, 2023, but provisional licenses can be awarded until June 30, 2023.
- Sports betting revenue will be taxed at 10%.
- Ohioans must be at least 21 years old to place a bet.
- While there is a cap of 25 mobile licensees in the state, the OCCC may decide to issue more licenses if the applicants can demonstrate that ‘Ohio needs more online sportsbooks.’
- Licenses will be issued to mobile and retail betting companies for up to five years.
- Sports bettors can bet a maximum of $700 at a lottery kiosk per week. These kiosks can accept money lines, spreads, and totals bets, as well as parlays of up to four picks.
You can review the Ohio Legislative Service Commission’s overview of the most recent amendments to the bill here bef ore it was passed into law just before Christmas.
What is the Potential Market Size of Legal Sports Betting in Ohio?
As the fourth-biggest state to legalize sports betting behind New York, Pennsylvania, and Illinois, a publication from the Legislative Budget Office (LBO) confirms that ther e’s likely to be a good market when sportsbooks are up and running.
The LBO predicts that 2023 will see sports betting worth approximately $1.1 billion and believe it will grow to in excess of $3 billion by 2024, contributing significant tax revenue to the state as a result.
Is There Currently a Legal Way for Ohio Sports Fans to Bet Online?
While there’s a lot to be excited about with the passing of the new bill, January 2023 is a long time to wait to place your first real money bet.
In the meantime, the only way that Ohioans can bet on sports is by enjoying free-to-play sports betting. If you are new to betting , this is a good way to get familiar with the different types of bet without risking any money.
Another way that you can legally bet in Ohio right now is by traveling to a neighboring state, as sports betting is legal in Michigan, Indiana, Pennsylvania, and West Virginia. While this isn’t ideal for everyone, it’s a viable option if you live close to the state line and are happy to place your bet at a brick-and-mortar betting shop.
The Verdict: When Will I Be Able to Bet in Ohio?
Thanks to the passing of House Bill 29 in December 2021, sports betting is now legal in the state of Ohio. That being said, the terms and conditions of the bill still need to be agreed upon, and lawmakers have set a deadline of January 1, 2023, for sportsbooks to provide markets for sports bettors in the Buckeye State.
But given that there have already been calls to expedite the process, you might be able to place your first legal online sports betting wager with an Ohio sportsbook before 2022 is out.
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