Prior to 2009, most types of gambling were illegal in Ohio. In 2009, voters passed a ballot allowing a physical casino in each of Ohio’s four largest cities. The first casino opened in 2012. In December 2021, Governor Mike DeWine legalized sports betting, and it was launched in January 2023. In the very first month of legal sports betting, consumers spent $1.11 million. In October this year, they spent more than $900 million betting on sports. This is the second-highest amount since January 2023.
Legal sports betting in Ohio
The Ohio Casino Control Commission (OCCC) has jurisdiction over sports bettors and operators of online sportsbooks in Ohio. It can make licensing decisions, including issuing and revoking licenses. It can also issue fines and act against sports gaming apps for violating gaming laws.
Ohio’s online gambling consists of sports betting at present since playing casino games online is still illegal. Four out of five states that border Ohio have legal online gambling options. For example, players in New Jersey can use the betPARX app to bet on casino games and place sports bets from their mobile devices.
Playing at a legal sportsbook is important. Regulation by the OCCC ensures that sports bettors in Ohio are protected. If a sportsbook refuses payment of alleged winnings, the bettor can file a complaint.
Other figures for sports betting in October
The OCCC reported that Ohio’s online sports betting handle was over $881 million and retail was $19.7 million in October.
Player winnings reached $814.7 million across online and retail in October. Taxable revenue was over $81 million. The monthly revenue figure is slightly above last year’s $80.7 million. The record is $209 million in the launch month.
Casino industry revenue expansion is largely being driven by sports betting and iGaming. Ohio is seeking to expand its online gambling offerings, and this could happen before long.
Many sports to bet on
Professional football is one of the most popular sports to bet on in Ohio and other states. However, operators of sportsbooks also offer many other games to bet on. These include live betting, college betting, Super Bowl, and March Madness bets. Ohioans can also use more than a dozen different sports betting apps. They may not have access to live dealer games such as live blackjack but daily fantasy sports (DFS) are legal.
Taxation
Operators are taxed at 10% on sports betting receipts. This tax revenue helps to fund various educational programs and helps to alleviate the effects of sports betting addiction.
Sports betting wins are taxable in Ohio and must be reported as income. Taxpayers can also itemize gambling losses as deductions if they track them accurately and have sufficient documentation.