Ohio to issue 40 Sports Betting License under the Gaming Bill

On Thursday, Ohio senators proposed offering 40 three-year licenses of sports betting costing $1 million. Out of 40, 20 licenses will allow applicants who can bet on 11 Ohio casinos and racinos. Moreover, they can partner with online and mobile app betting sites.

Senate Bill 176 will create 20 licenses, which will be called the type B to use for in-person sports betting. The prop bets allow fans to bet on the result from the game at the length of the National Anthem.

If the location needs to practice in-person and online betting, owners will have to use two licenses. According to the bill, the entity will not have any right to hold more than five licenses for online betting. Similarly, professional sports teams in Ohio won’t be guaranteed to receive the permit but can apply only for one.

Senate Kirk Schuring also mentioned that the PGA Tour Memorial Tournament and teams had requested their licenses to create entertainment to bet.

The team, in its statement, said that their coalition members have been producing games that allow betting. Our business must carry a fair market for those who bet using mobile and offline. No sports betting is possible without playing sports.

Under this new Senate bill, the Ohio Casino Control Commission will control the casino betting industry. All the incomes coming from betting will be going towards public and private schools, and 2% in gaming addiction problems. Similarly, the license fees will be distributed.

However, Schuring, who drafted the bill, isn’t sure how much earning Ohio State will bring. According to the senate, it is not about the revenue generation but is about illegal things happening around Ohio sports betting. So they want to put a halt to it.

With this proposed bill, Ohioans will be able to bet and earn on collegiate sports. However, the decision on teams’ eligibility will be undertaken by the Ohio Casino Control Commission.

Meanwhile, the Inter-University Council of Ohio, representing the state’s 14 public universities, asked senators to exempt all its collegiate sports from betting grounds in Ohio.

This bill and other changes will be in effect after Jan 1, 2022, giving Ohioans enough time.