40 is projected to be the number of US states that will legalize sports gambling in the next three years. There are at least five that could enter their own markets this year, bringing the number of legal states to 30, excluding Washington and Puerto Rico. Ohio may be one of the next states to legalize sports betting, provided lawmakers are able to come to terms with the new sports gambling law introduced into the Senate yesterday.
Ohio has solid plans for sports gambling
Senate Bill 176 (SB 176) is the result of the work of three senators in this state. Some kind of legislation was expected to come, and the new law contains a lot of information to digest. In particular, it would be possible to issue 40 licenses divided into two categories.20 Type A licenses would be awarded to casinos and casinos that are able to cover all potential payouts, known as "bet bank", and type B licenses would be granted to companies wishing to cooperate with operators online games for the purpose of starting sports gambling.
The latter would also be available to professional sports teams to introduce bookmakers to their stadiums. Ohio has teams in the NFL, NBA, NHL, MLB and MLS which means there can be a lot of bookmakers in stadiums and arenas. In addition, bars and other businesses fall under this category, and any Type B license holder would be able to offer in-game prop betting among other things. All licenses, type A or B, will cost $ 1 million, valid for three years, and Ohio will receive a 10% share.
Legalizing Sports Gambling in Ohio Inevitable
While gambling opponents may try to contain expansion, they are waging a losing battle. All types of gambling will continue to be introduced in the United States, and Ohio Governor Mike DeWine has already indicated that it is "inevitable" that the state legalizes this activity. It is an established fact that sports gambling is practiced throughout the United States, legally or not. Legalization gives state governments the ability to capture revenues that are sent elsewhere, and it also allows them to create programs to protect consumers and gamers. Ohio Senator Nathan Manning, one of the sponsors of the bill, said it best when he pointed out that "sports gambling is here, Ohio just isn't taking advantage of it."
Despite the optimism surrounding the new bill, there is still a long way to go. Previous attempts to investigate legalized sports gambling in Buckeye State have failed, but this time the situation is different. Neighbors Ohio, Pennsylvania, Michigan and Indiana all have their own sports gambling markets, which means Ohio is losing money. Determining the fate of the bill may not take long, as supporters expect the Ohio legislature to vote - and approve - by the end of June.