If approved, a bill recently introduced by Ohio Republicans would position the state as the first to repeal online sports betting.
House Bill 971 (HB 917), dubbed the “Save Ohio Sports Act,” aims to implement significant changes to sports betting within the state, restricting online wagering exclusively to physical casinos. Representative Jonathan Newman (R-Troy) argues that Ohio’s educational institutions — initially intended to benefit from online sports betting — do not truly gain from this type of gambling.
“Profiting from gambling addiction to fund public education leads Ohio in the wrong direction,” he stated while introducing the legislation. “Who profits when gambling takes advantage of the vulnerable? Certainly not our schools! The only beneficiaries are massive gambling corporations. Is this really beneficial for Ohio?”
The state legalized sports betting in 2021, and online wagering commenced on January 1, 2023. Governor Mike DeWine (R-OH) has openly expressed regret over endorsing the related legislation, describing it as his most significant misstep since taking office.
Ohio Takes a Firm Stand Against Online Sports Betting
Should the Save Ohio Sports Act pass, the state could become less appealing for operators.
This legislation not only eliminates the lucrative online wagering model but also seeks to restrict numerous popular bet types that generate substantial profit for operators. The authors advocate for the removal of live betting, parlays, and player prop bets. Additionally, they propose banning wagers on collegiate sports — a move that may be unpopular given the popularity of Ohio State football.
Other stipulations include capping maximum bets at $100 and limiting gamblers to a maximum of eight bets within any 24-hour period. This bill exemplifies Ohio’s stringent approach towards sports wagering; previously, the state increased taxes on sports betting, and last year, lawmakers introduced a proposal for an additional 2% tax hike aimed at generating $200 million for school athletics and other extracurricular programs.
Meanwhile, the Ohio Casino Control Commission (OCCC) is nearing the establishment of regulations to prohibit online sportsbooks from accepting credit cards for account funding. Major sportsbooks like FanDuel and DraftKings have already banned credit card use for deposits.
Other states, including Connecticut, Illinois, Massachusetts, Tennessee, and Vermont, have also enacted laws disallowing credit cards for online sports betting transactions.
Potential Impact of Ohio Abandoning Online Betting
Identifying “winners” if Ohio abolishes online sports betting is complicated due to various factors at play. Revenue-wise, the state could face losses, as estimates suggest that about 90% of legal sports bets in the U.S. are made via mobile devices.
If Ohioans continue to prefer sports betting solely through retail outlets, local brick-and-mortar casino operators could see a revenue boost. This includes companies like Boyd Gaming, Caesars Entertainment, JACK Entertainment, and Penn Entertainment, with Penn being the largest operator in terms of properties in the state.