Senate Sports Betting Bill Gives Authority to Casino Regulators
Ohioans have been speculating change in the course of casino expansions and the regulation related to the same. Apparently, the state is concerned about the revenue, and as a result, sports betting has been legalized. This is one way to look at it, but the other side tells a different story. The state is concerned about the illegally run casinos and racinos. After the establishment of this bill, the state of Ohio will have a leash on them and at the same time draw a hefty revenue. Perhaps, the consequence of this bill is beneficial for both parties.
According to the latest update, the Ohio Senate, in its latest attempt at legalizing sports betting, announced that there would be two types of licenses regulated under the Ohio Casino Control Commission. The type A license will cover the entities that are capable of banking the bet. This comprises Ohio’s seven racinos and four casinos. The license will also allow these entities to enter into a contract with online gaming vendors. Type B is for the facilities that offer a proper place for placing bets.
According to Senator Kirk Schuring, they are anticipating generating 10% of the state tax from sports betting alone. He added that the same would be used in education funding and services that address problems like gambling addiction and others.
The aforesaid bill will allow twenty types A licenses and twenty type B licenses, and each license would cost around $1 million.
On behalf of the Ohio Professional Sports Coalition, Curt Steiner wrote that they are looking forward to continuing engagements with lawmakers. The coalition members are a crucial part of sports betting as they produce sports. Providing a platform where betting can be done on the basis of fair play is a priority.
In the context of iLottery, the bill suggested creating a committee for reviewing the future impact of gaming. The Ohio attorney general will monitor the entire mechanism by establishing stringent rules for background checks.