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Ohio Senate approves legalized sports
Residents of Ohio can now start looking for the best Ohio sports betting sites since the Senate has approved the bill to legalize sports betting in this state. According to the bill, 53 licenses will be provided for taking bets on college sports and professional sports events. The original bill included only 40 licenses. 25 out of these will be made available for casinos and horse racing tracks. These are permitted to tie up with outside companies for sports betting sites and apps.
With this bill it will also be possible to place wagers on basketball and football games. The Inter University Council CEO states that legalized betting requires universities to monitor sportspersons to ensure they do not provide inside information to the bettors. This bill even permits betting kiosks to be set up inside nightclubs and bars. Here, betting will be limited to the point spreads, money lines, and total points in a game. Finally, the bill will allow sports pool betting by Ohio Lottery Commissions and electronic bingo at fraternal and veteran organizations supervised by the Attorney General’s Office.
Applications for sports betting can be sent to the Casino Control Commission and they should grant permits by April. It is expected that the state will earn almost $17 million as tax revenues. The bill suggests that 98% of taxes be deposited in educational funds.