EXPLAINER: Sports betting to begin in Ohio with new year | News, Sports, Jobs


COLUMBUS (AP) — The start of a new year brings legal sports betting to Ohio with plenty of betting options.

A year ago, Republican Gov. Mike DeWine signed legislation allowing sports gambling, made possible by a 2018 U.S. Supreme Court ruling that struck down a federal ban on states legalizing sports betting. Ohio joins more than 30 other states where fans can bet on sports.

The legislation creates three types of licenses, which are overseen by the state’s Casino Control Commission. These licenses regulate mobile betting, such as phone apps; gambling at casinos, racinos and sports books operated by professional sports teams; and bars, restaurants and other retail sites with self-service gaming kiosks.

The state Legislative Services Commission estimates that sports betting in Ohio will eventually become a multibillion-dollar industry.

WHEN DOES THIS START?

Also Read :  Jail officials sound alarm on mental health | News, Sports, Jobs

It begins at midnight on New Year’s Eve. The Hard Rock Sportsbook in Cincinnati invited Pete Rose to place his first legal bet there. Rose, of course, accepted a lifetime ban from baseball in 1989 after it was discovered that he had placed numerous bets on the Reds while playing and managing the team.

WHERE CAN YOU PLAY?

Adults 21 and older in the state can bet anywhere, anytime. Most of your bets will be made through sports games apps on your phone. Casinos and casinos are opening sportsbooks where you can place bets and watch games. Professional sports teams and the Football Hall of Fame in Canton also plan to open sports books. Gaming kiosks will be installed in hundreds of licensed bars, restaurants, bowling alleys and grocery stores around the state.

Also Read :  Flyers Co-Founder Ed Snider is 'The Last Sports Mogul'

While the biggest sports betting apps are expected to offer live betting, some sportsbooks and kiosks will delay the start, so bettors may want to check before they go. Kroger, the country’s largest traditional grocery chain, is delaying the opening of kiosks in its 42 licensed stores until later this year. The Ohio Casino Control Commission announced that 16 companies will be ready to allow online gambling on January 1st.

WHERE AND HOW WILL THE SPORTS KIOSK WORK?

The Ohio State Lottery Commission plans to oversee the rules and operations of the kiosks and create a list of locations. The kiosks will have instructions for the players and will be limited to certain bets: betting on the spread, over-under, money line and parlay.

WHAT BETTING IS ALLOWED?

Professional sports in the US, college sports, some international sports, and even esports. People can bet on auto racing, Olympic events, professional golf and tennis. However, high school games, pre-recorded contests or certain props such as whether a specific player will be injured, how many penalties or timeouts will be taken are not allowed.

Also Read :  Warren officials review options for mobile market | News, Sports, Jobs

ARE WINNING TAXABLE?

You bet. How much depends on how much the bettor makes per year. Online sportsbooks will keep track of a person’s winnings. If you win big, you’ll likely be sent a tax bill. The IRS requires you to report gambling winnings as income. Meanwhile, operators will pay a 10 percent tax on net revenue to help fund K-12 education and gambling programs.



Today’s breaking news and more in your inbox











Source

Leave a Reply

Your email address will not be published.