Why Sports activities Betting Could not Look Like New Ohio Sports activities Betting Invoice Draft
When sports betting is in Ohio Legalized this year, it may not be as robust as expected after the bill reduced the number of licenses.
The latest design from HB 194 reduces the number of OH sports betting licenses to two for every casino and racino operator in the state. That’s down from three in the previous version of September.
It’s not a big surprise to see a change. Late. John Eklund, one of the sponsors of the bill, told LSR that he considers many important details of the previous draft to be placeholders. The original bill was passed by the House in May but would have to be re-approved with the changes.
Further input was required
In September, Eklund said the previous draft was based on discussions with some members. He wouldn’t commit to any details until everyone involved had their say:
“They are all the subject of discussions with other senators, representatives of the state and other interested parties,” said Eklund. “I make a commitment to everyone that their input will be collected and taken into account, and I think this is important for all parties interested to know. … To one degree or another, all of these things are placeholders. “
Legislators have until the end of the year to pass Ohio’s Sports Betting Act in the Lame Duck session.
Changes to Ohio Sports Betting Bill
The number of licenses approved by every gaming operator in the state was the most significant change in the bill for sports betting in Ohio.
The new maximum of two skins per casino / Racino means that the market would be limited 22 operators instead of 33. The Casino Control Commission remains the proposed regulator instead of the Lottery commission. This was one of the few details that Eklund was convinced of the final draft.
Other changes are:
- Casinos and Racinos do not need to hand over all of their sports betting licenses. The previous draft said that these gambling operators should “contract”, but the new draft said “may contract”.
- Management service providers continue to pay $ 10,000 for a license. Instead of $ 1,000 These providers pay for the renewal every year $ 10,000 every three years to renew the license.
- Operators can no longer subtract that 0.25% Federal excise tax paid on all bets from their total gross receipts. There is renewed movement to repeal this tax at the federal level.
- Former Offshore workers Now is your chance to work in the market. The previous draft banned anyone who had worked with offshore operators in the past. Now it’s only those who have accepted illegal bets from the US April 16, 2015 Forward.
What has stayed the same?
There are a couple of positives left in the bill:
- 8th% Tax rate.
- $ 100,000 Fee for a five-year license for casinos and racinos.
- No official league dates Mandate.