The Changing Face of Sports Betting
The NHL playoffs aren’t the only game going on.
As we get deeper into this year’s NHL playoff rounds, it’s a good time to revisit the subject of sports betting.
It’s been almost a year since the U.S. Supreme Court legalized sports betting outside of Nevada. And while several states have already begun to legalize sports betting within their own borders – Ohio has taken a more measured approach to ensure that the issue is handled in the right way.
Senate Bill 111, sponsored by Senators John Ecklund and Sean O’Brien would legalize wagers in casinos, racinos and other places with video lottery terminals. Under the bill, people must be 21 to place bets – and other aspects include:
- Employees of legal sports wagering businesses could not bet.
- Sports wagering operators could have mobile apps – along with their website for their sports pool.
- The server hosting the site would have to be within a legal gaming facility in the U.S. that is owned and operated by the sports wagering operator or its management services provider.
- Online players would have to establish accounts under their actual names and not through a beneficiary.
- Casino operators and racinos or video lottery terminal sales agents would apply to the commission for certificates to conduct sports wagering.
- The commission would adopt rules with qualifications for someone to become a sports wagering operator.
- A nonrefundable $10,000 fee would be required with the application for the first certificate issued.
- Five years after sports betting begins at a business, casino operators or video lottery terminal sales agents would have to pay $100,000 to the commission and $100,000 every subsequent five years.
According to Senator Ecklund, sports wagering operators would have to pay a tax to the state of 6.25% of gross income – minus some expenses that the law would allow. He also added in a recent interview that he’s not in a rush and wants to make sure to get the law right.
For more information on the issue of problem gambling in Ohio, visit BeforeYouBet.org.