Legalized sports betting is coming to Ohio, but not in time for Ohioans to bet on the Super Bowl-bound Bengals. In 8 Dec 8, 2021 the House and Senate passed amendments to HB 29 with overwhelming support. Merely three days since Sen. Schuring confirmed lawmakers had reached an agreement to have legal wagering in place by the beginning of 2023. When legalized sports betting becomes available, Ohio might become one of the most popular sports betting markets in the United States. The state of Ohio’s sports betting law covers both mobile and retail betting.
Is it legal to gamble on sports in Ohio?
As the autumn of 2021 approached, Rep. Bill Seitz, Sen. Schuring, and Rep. Jay Edwards reached an agreement on the issue. The agreement was on Ohio in the HB 29 and forwarded to the Legislative Service Commission. The modified law was quickly enacted by the House and Senate on December 8, 2021, at their final meetings of the year. While it looks that Ohioans will have to wait a long time for Ohio sports betting, the good news is that both retail and mobile sports betting will be available when all is said and done.
Who Is Allowed To Bet In Ohio?
When sports betting is allowed in Ohio, everyone over the age of 21 will be eligible to place a wager. Sports betting in Ohio should be convenient and accessible, with store front sports books in major cities and internet sports books just a click away. Soon players will be able to register, fund their accounts, and place bets at Ohio online betting sites from anywhere in the state. Since Ohio’s sports betting law requires more than a dozen licenses for internet operators, betters should have lots of alternatives when it comes to selecting a sportsbook.
Crossing The State Lines
Sports bets may only be placed by persons physically located in states where sports betting is legal and regulated. This will also be true in Ohio. When online sports books become available, Ohioans will need to authenticate that they have both feet on the ground in Ohio before making a bet. Unfortunately, legalized sports betting is unlikely to arrive in Ohio before January 2023. However, mobile and in-person sports betting are permitted in Michigan, Pennsylvania, Indiana, and West Virginia. You can place a sports bet as long as you are physically present there.
Retail sports books And Taxes on Winnings
In Ohio, there are no regulated retail sports books yet. HB 29, on the other hand, seeks for the issuance of 42 retail sports betting licences in 2022. These “Type B” licences are available to casinos, and professional sports stadiums. When legalized, it stands to reason that Ohio’s four largest casinos Cleveland, Cincinnati, Columbus, and Toledo will have actual sports betting facilities on or off-site. Let’s not forget taxes. In Ohio, all gambling earnings are taxed at both the federal and state levels. Winnings from sports bets will be treated the same way.
Reading the odds
Ohio, like other jurisdictions, will use American odds as the default choice for displaying betting odds. To identify favourites, look for a negative symbol (-). The figure that follows will inform you how much you’ll have to bet in order to win $100. For example, -180 odds indicate that you must risk $180 to gain $100. Underdogs are denoted with a plus symbol (+). The figure below reflects the amount you’ll earn if you stake $100. For example, +110 odds suggest that a $100 wager would return $110 if the underdog won the placed bet.
How to start betting in Ohio
Ohioans will be able to place their initial wagers either remotely or in person. Wagers can be placed online by the use of a betting app or in some cases an online sports book site. Physical shop sportsbooks will be available too. Before signing up with a sportsbook, gamers should read some (early) reviews and compare the bonuses provided. This way players will have more insight on which sites to try out first. Complete the registration by submitting basic personal information and validating your identify with a driver’s license or Social Security Number.
After you’ve decided on a betting site, registered and claimed your bonus offer, it’ll be time to fund your account. Ohio will follow the lead of other states that have legalized sports betting by enabling the use of PayPal, credit cards, debit cards, bank transfers, PayNearMe, among other methods. Players will have access to all common bet kinds so before placing your first wager, you should do some research. Because not all Ohio sports books provide the same betting lines, take your time identifying the most advantageous betting possibilities when the choices are available.