Ohio Sports Betting Bill and Amendment Updates
Sports betting in Ohio continues to push ahead as lawmakers discuss SB 176 and amend the measure. While far from a done deal, the Senate Gaming Committee decided to add an omnibus amendment that will delay the new market opening to April 1, 2022. The delayed start date may disappoint local sports fans, but lawmakers did choose to add more licensing options to facilitate a more open market.
Senate members pushed back the start date to give every operator equal footing when the industry begins offering services in the state. Initially, the measure included a start date of October 1.
Of course, it’s contingent upon legislation passing. And time is running out.
SB 176 Amendment Changes
SB 176 offers two types of licensing, Type A and Type B. With a Type A license, operators can provide online sports betting with one brand name each. A single controlling entity is not allowed to have more than five of the A license.
With Type B licensing, operators can offer retail sports betting. This license type has restrictions in place based on city size. Each city will offer only a certain number of Type B licenses. When lawmakers first introduced the bill, it only allowed 20 Type-A and 20 Type B licenses. Now, the amendment has boosted Type A to 25 licenses and Type B to 23.
If the legislation is approved, the state regulator will start accepting applications for sports betting licensing on January 1, 2022. Approvals will begin on April 1, 2022.
Additional amendment changes include allowing electronic bingo machines in the state. As many as 900 locations may offer these games. The Ohio Attorney General and the Casino Control Commission must review the gaming machines and determine if they are considered a slot game.
The bill now has the potential to move forward for a full vote in the Senate.
Professional Sports Teams Can Offer Sports Betting In Ohio
The Ohio sports betting bill also allows professional sports teams in the state to take part in offering sports betting. Retail licensing is available, and the new amendment gives such teams preference for approval. The PGA, NASCAR, NHL, NBA, MLB, and NFL teams in the state are eligible.
In anticipation of legalization, WynnBET just announced a new partnership deal with the Cincinnati Reds. The MLB team signed a corporate partnership with the casino and sports betting brand, planning to work together during the 2021 season.
Reds fans will be introduced to WynnBet in Indiana as expansion efforts continue in the state. For Ohio, the partnership will set up both the team and brand to offer services if/when lawmakers legalize sports betting.
With the partnership, WynnBET can access the official marks and logos of the Reds and use them within its online products. Promotional offers are also in the works, with sports bettors gaining access to co-branded options via the Indiana app.
WynnBET will offer sports fans a chance to win Reds tickets and memorabilia during upcoming promotions.
WynnBET continues to grow its portfolio of sports franchise partnerships with this new deal. The brand already has partnerships with the Detroit Pistons, Memphis Grizzlies, and NASCAR.
The Ohio Lottery Can Also Offer Sports Betting
The lottery will also be able to offer sports betting services. Retailers that offer lottery games will be able to provide sports betting once the option is legalized. The Ohio Lottery Commission will be in charge of this sector. A specific product will be provided via the lottery that will take place in a sports pool format. Each bettor pays $20 to take part.
In the measure, it gives an example as to how the pool style of betting will work. For example, let’s say 1,000 people bet on an NFL game and buy the $20 ticket. The lottery keeps 10% of the total, and the remaining money would go to the winning ticket holder.
The bill was introduced by Senator Schuring and joint sponsors Senator Niraj Antani and Senator Nathan Manning. When presenting the information, Schuring talked about how gaming is already taking place in the state but not legally.
My priority is to make sure this bill focuses on broad-based economic development that provides no special privileges for any gaming business or organization.
The measure is free market-driven and has oversight from existing regulators in the state. According to Schuring, the regulators have the experience needed to ensure citizens of the state are not taken advantage of by illegal gaming operators.
Additional Information About Ohio Sports Betting Legislation
The Senate measure goes on to provide information on the taxes paid by Ohio sportsbooks as well as the addition of electronic bingo. As far as taxes are concerned, the state will receive 10% of net revenues from operators. The money will be used to benefit private, and public education needs.
A 2% portion will be used to assist with gambling addiction and problem gambling. In addition, programs and information will be readily available to ensure that players are protected as they start to enjoy the new entertainment options.
The measure also opens electronic bingo to charitable organizations. The Attorney General’s office of the state still has oversight in this regard. The Casino Control Commission must authorize any electronic bingo machines used by charitable organizations. The regulator will check to see if the games are correct and not slot machines.
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