Ohio Could Legalize Sports Betting By The End Of This Year
After the U.S Supreme Court, in May 2018, struck down a law that prohibited sports betting across the country, several states have already legalized the gambling activity and are in the process of developing major sports betting platforms. It seems the state of Ohio will soon be joining the list, hopefully by the end of this year, as state senator John Ecklund is pushing for the ill to be passed.
Even Ohio’s neighboring state, Pennsylvania has legalized sports betting, and Ohio wants to catch up. In the Ohio House and Senate, Senate Bill 316 proposes that the legalization of sports betting is something the General Assembly is intent on discussing and enacting.
A long road ahead for lawmakers
As of now, the bill is just two paragraphs long and there is a lot of work ahead if it is to be passed by the end of this year, which is Senator Ecklund’s goal. First, the body of this bill needs thorough research so that an amendment can be drafted. Ecklund says the most important question right now is not if they are going to legalize sports betting in Ohio, but rather, how they can do so in such a way that everybody in the state maximizes from it one way or another. In order to discuss this very concern, Ecklund has held meetings with different groups involved with sportsbooks.
There are several other pressing matters which must be finalized too before the bill can be presented. For instance, will there be regulating the body, and if so, who will it be? Who will be responsible for sports betting in Ohio and what kind of games will people be allowed to bet on?
Then, there is also the question of finances. How much will the rates be and how will taxing be carried out? Will the sports book company or the winning be taxed? Moreover, Ecklund still has to decide how the taxes collected will be distributed by the state.
Concerns regarding high fees
Ecklund has also taken into consideration the cost of high fees, which often discourages potential sports book companies from wanting to operate. This has often been the case with not just sports betting, but other forms of gambling as well. If the fees are too high, operators don’t make enough profits and it doesn’t make sense for them to operate in such states.
Despite these challenges ahead, Ecklund is still confident that he can get the bill passed by the end of 2018.