Ohio governor aims to double sports betting tax rate
Mike DeWine wants to take the tax rate to 20 per cent.
US.- Ohio governor Mike DeWine is already looking to double the state’s tax rate for sports betting. In his executive budget, DeWine has proposed changing Ohio’s sports betting tax rate from 10 per cent to 20 per cent.
The revenue would go to schools for athletics and extracurricular activities, to tackle problem gambling and to cover the administrative costs of overseeing sports betting, including monitoring ads for sports gambling apps.
A spokesman for DeWine said the tax increase, as well as proposed reforms related to promotional credits and threats against athletes, is due to some sports betting operators and customers not following the rules after Legal sports betting began in the state on January 1.
DeWine wants to ensure that any “free or risk-free” credits that sportsbooks offer don’t require bettors to make a deposit or risk their funds in order to use or withdraw winnings. Operators violating that would be subject to penalties from the Ohio Casino Control Commission (OCCC), including a possible ban on offering promotional credits or bonuses.
Legal sports betting in Ohio
After three years of debate, Ohio approved sports betting in December 2021. DeWine signed legislation to allow sports betting in the state following the approval of House Bill 29 by the House and Senate.
The Ohio Casino Control Commission formulated rules and regulations for sports wagering before starting licensing on April 1. The legislation allows for 65 licences: 25 online sports betting licences and 40 retail sportsbook licences.
