Ohio lawmakers working on new efforts to legalize sports betting

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hio lawmakers are working to pass a bill legalizing sports gambling, and experts say it could be operational in Ohio a year from now.

“Ohio has the potential to be one of the top sports betting markets in the country,” said Nick Wojcik, Chicago-based analyst at sports betting advice and analysis firm Odds.com, as reported by Cincinnati Business Courier.

Local venues, including Hard Rock Cincinnati, Belterra Park Cincinnati and Miami Valley Gaming, are eagerly waiting for the legal sports betting market to kick off. Hard Rock has already started construction of a sportsbook site for gamblers, who will likely also bet on sports through their mobile devices.

Estimates have placed illegal sports betting in Ohio at $5 billion a year. And money is flowing into neighboring states where it’s legal. That is why Ohio Rep. Brigid Kelly, D-Hyde Park, co-sponsored a bill to legalize sports betting that passed the Ohio House last year. That never became law, but she’s co-sponsoring legislation again this year to legalize it.

“We ran out of time,” Kelly said of last year’s effort. The Ohio Senate has also formed a committee on gaming to examine the issue. The basic plan at this point, she said, is based on where the House bill left off last year:

The Ohio Casino Control Commission would run sports betting. Last year’s House bill had the Ohio Lottery Commission running it, while the Senate preferred the Casino Control Commission.

Sports betting revenue would be taxed at 8%, although a Senate proposal calls for 6.5%. Betting would be available at casinos, racinos and on mobile devices. Tax money would go to fund extracurricular activities at Ohio schools. However, the Senate plan calls for money to go to the general revenue fund for broader use. The Senate plan would also charge a $100,000 licensing fee every five years to venues that host sports betting.

Kelly feels like the two legislative branches don’t have the differences they did last year. “We both have the same goal, which is to legalize sports betting,” she said.

Ohio Sen. Cecil Thomas, D-North Avondale, is one of five members of the Senate Select Committee on Gaming who is studying the situation and working to close a deal. “Let’s find the best solution and get something done,” he said.

Thomas wouldn’t set a timetable for Ohio’s legislature approving a bill. But he feels the wave of support and expects one soon. “Based on the comments I’ve heard, I feel confident we’re going to get it, based on the economic standpoint,” he said. “It just makes practical sense. All the individuals that came and spoke said this could be very profitable for the state of Ohio. Let’s get to the point we all want to get it done.”

Kelly certainly wants the legislation to be passed soon. “I think it’s something we need to act on as expeditiously as possible,” she said. “The longer we wait, the more money we leave on the table. We don’t want people to go to other states.” Whenever it does pass, Kelly expects it to take another six months for systems to be set up and betting to be operational.