Ohio online casino legislation is gaining attention as lawmakers deliberate on its potential impact. During a recent House Finance Committee meeting, Rep. Brian Stewart presented House Bill 298, emphasizing the benefits of legal online casinos.
Proponents argue the industry could generate over $600 million annually, claiming residents already engage in illegal online gambling. However, opposition worries about the potential cannibalization of in-person casino and lottery revenues.
Tuesday Online Casino Hearing
Earlier discussions revolved around Senate Bill 197, which suggested expanding licenses and lowering fees. While the revenue boost is appealing, some stakeholders remain cautious about its implications. Organizations like the National Association Against iGaming, including Cleveland-based JACK Entertainment, oppose online casino expansion.
House Bill Details
The proposed legislation would grant 11 licenses to Ohio’s casinos and racinos, each with a $50 million fee. Sports betting revenue would face a 28% tax, and credit card funding and bonuses would be prohibited. Licenses hold a $10 million renewal cost.
Senate Online Casino Differences
Senate Bill 197, backed by Sen. Ethan Manning, proposes the same number of licenses but with higher tax rates, reaching up to 40% for contracted companies. It also legalizes iLottery and horse racing wagering, with a $5 million renewal fee.
Ohio Gambling Situation
A study submitted last year indicated favorable prospects for online casinos in Ohio. Despite Gov. Mike DeWine’s controversial tax hikes on sports betting from 10% to 40%, these proposals have faced legislative setbacks. A recent bill by Sen. Louis Blessing introduces a 2% handle tax for further revenue generation.
For more information on gambling legislation across the U.S., visit the American Gaming Association.
