The American Gaming Association (AGA) says Ohio sports betting regulations will allow customers to gamble safely while protecting big-money bettors.
Ohio will become the 32nd state with legal, regulated sports betting in just under four days. Online sports betting will begin at 12:01 a.m. on January 1, while retail sportsbooks, like the one at the Cincinnati Reds stadium, will begin taking bets at 11 a.m.
Multiple Ohio sports betting options
Ohio regulators approved several sports betting options for Ohioans, including roughly 1,000 bars, restaurants, bowling alleys and grocery stores. Each location will host self-serving kiosks where customers 21 years and older can place a maximum bet of $700 per week.
The wagering cap is a safety precaution, according to State Senator Niraj Antani.
“We don’t want people rolling in with $100,000 in cash to get at your local pub, that’s more appropriate for full sportsbooks that have the security measures, the security cameras, the ability to payout a bet of that size.”
There are sports betting kiosks in other jurisdictions around the US. Each kiosk allows customers to place standard bets such as spreads, over-under, money line bets and parlay bets. Customers should note payout rules may vary depending on the kiosk they use.
Billions wagered each year
According to the AGA, in a mature market over $9 billion will be legally wagered each year. As a result, state and local communities could receive upwards of $63 million in tax revenue. In Ohio, sports betting tax revenue will go toward educational programs across the state.
“Americans are betting more than half a trillion dollars on illegal gambling alone,” said Clark.
“Illegal operators have no commitment to responsible gaming, no consumer protections, don’t pay taxes and don’t care at all for consumers. This system and bet limit protects the consumers at all costs.”
Last week, the Ohio Casino Control Commission approved another three online sportsbooks. Per Ohio regulations, the operators had to partner with an existing entity to gain a license.
- Bally Bet – Cleveland Browns
- Betway Sportsbook – Belterra Park
- Underdog Sportsbook – Cincinnati Reds
With the addition of the three new licenses, the state now has 20 online sports betting operators ready for launch.
