Image for Mike Lukas Mike Lukas - October 14, 2022

Ohio Gov. DeWine Signs Sports Betting Bill; Launch Set for 2022

Ohio Gov Signs Sports Betting Bill
  • On Wednesday, Ohio Gov. Mike DeWine Signed the Sports Betting Bill into Law
  • Ohio’s Legal Sports Betting Market Launch Planned for 2022
  • Sports Gambling Proceeds Taxed 10%, with Money Going to Ohio K-12 Schools

Play Fantasy Sports Here!

Hot

Logo #1

SI Sportsbook

9/10

Bet $20 Win $200

21+ CO, VA, MI Only | Terms and conditions apply

On Wednesday, Ohio Gov. Mike DeWine Signed the Sports Betting Bill into Law

Pop the champagne corks, Buckeye bettors, because in 2022, Ohio sports gamblers will be able to place legal wagers now that Governor Mike DeWine has signed off on HB 29, the sports betting bill that is now law as of Wednesday.

It took some last-minute changes by Ohio state Senators and House Reps to get HB 29 passed through the legislative body, which happened a few weeks back by overwhelming majorities in both chambers as we reported in Ohio Lawmakers Approve Sports Betting Bill, Gov. DeWine Up Next.

Now that Gov. DeWine has done his part with his pen, the sports betting operation in that state will be created step by step under the regulatory authority of the Ohio Casino Control Commission and the Ohio Lottery.

None of this would even be possible without the US Supreme Court having overturned PASPA back in June of 2018, a move that allowed individual states to decide whether they want to legalize, regulate, and tax the sports betting market that already exists illegally.

Now Ohio will join over half the states who have already legalized sports betting for their residents, but it won’ happen overnight.

According to the bipartisan bill that is now law, the Ohio sports betting market must set a start date no later than Jan. 1, 2023, which means gamblers there will most likely be able to make wagers there sometime in the next year.

First though, a few steps must take place, including the creation of the physical betting systems and venues as well as the regulatory concerns such as who exactly gets a license to run a sportsbook.

According to the legislation now in place, these licenses will govern:

  • Online wagering
  • Gambling in bricks-and-mortar operations run by casinos and racinos
  • Operations by professional sports teams and events
  • Bars and restaurants with gaming kiosks

The state Casino Control Commission will determine exactly which sports will be eligible for wagering but given Ohio’s vast athletic interests – pro sports like NFL, MLB, NBA, motorsports, Olympic sports, college football and basketball, plus golf and tennis – expect the betting choices to be broad.

After all, the more sports bets available, the bigger the potential handle, which means more taxable revenue for Ohio.

Sports Gambling Proceeds Taxed 10%, with Money Going to Ohio K-12 Schools

The 10% state tax that Ohio will charge sportsbooks is a more than fair rate, especially when you consider that other states have gone the more expensive route, like New York which will claim 51% of each operator’s gross gambling revenue.

Even with a lower tax rate, though, it’s big money for the state according to projections made by PlayOhio, who predicted that once the market matures after about three years:

“Ohio online and retail operators will generate between $9 billion and $12 billion in bets annually, which would produce between $700 million and $900 million in gross revenue each year.”

That money has been earmarked for Ohio K-12 schools, but it will most likely be spread around even more as the revenues grow, and soon those profits will benefit state residents instead of the bookies, offshore sportsbooks, and neighboring states that had been happy to take it before.

Play Fantasy Sports Here!

Hot

Logo #1

WynnBet

8.8/10

Bet $100 get a $100 FREE BET

21+ | T&Cs apply

Hot

Logo #2

BetRivers

9/10

$500 Free Bet

21+ | VA only | Gambling problem? Call 1-800-532-3500

Image for Mike Lukas

AUTHOR

Mike Lukas

1140 Articles

Mike Lukas is a retired standup comedian turned freelance writer now living in Dallas, Texas, originally from Cleveland, Ohio. His love for the game of football and all things Cleveland Browns turned Mike into a pro blogger years ago. Now Mike enjoys writing about all thirty-two NFL teams, hoping to help football gamblers gain a slight edge in their pursuit of the perfect wager. Email: [email protected]

More info on Mike Lukas
We've been featured on:
espn logo
reuters logo
cbs-news logo
forbes logo
entrepreneur logo
We only list licensed sportsbooks
18-plus
800 gambler black logo dmca logo gig media power affiliate ranking gig media igb best casino affiliate winner

© Rebel Penguin ApS 2022 (a subsidiary of Gaming Innovation Group Inc.)

We support responsible gambling. If you feel like you're losing control over your gambling experience, call 1-800-GAMBLER (NJ, PA, WV), 1-800-9-WITH-IT (IN), 1-800-BETS-OFF (IA), 1-800-522-4700 (NV), 1-800-522-4700 (CO, TN), 1-855-2CALLGA (IL), 1-800-270-7117 (MI).

WSN.com is registered with the New Jersey Division of Gaming Enforcement (DGE) under affiliate vendor ID 89744, with the Indiana Gaming Commission (IGC) under certificate of registration number SWR-000148, approved by the Pennsylvania Gaming Control Board as a gaming service provider, under certificate registration number 117656-1, possesses a Vendor Minor sports betting license from the Colorado Limited Gaming Control Commission (account number 94414163), granted a vendor registration number VR007603-20-001 by the Michigan Gaming Control Board, an interim Sports Wagering Supplier license, under license number SWS 066, issued by the West Virginia Lottery Commission, a sports betting vendor registration, under registration number #100400, issued by the Director of Gaming Licensing and Investigations of the Virginia Lottery to operate in the State of Virginia, and a Vendor Registration issued by the Sports Wagering Committee of the Tennessee Education Lottery Corporation.

Advertising disclosure: WSN contains links to online retailers on its website. When people click on our affiliate links and make purchases, WSN earns a commission from our partners, including ESPN and various sportsbooks.