COLUMBUS – The Ohio Senate on Wednesday passed bill legalizing sports betting in Ohio along with a bill allowing college athletes for the first time to make money based on the use of their names, pictures, and similarities.
Both bills are now being examined.
The Sports Betting Act would allow the issuance of 53 licenses for betting in professional and university sports. This is an increase from 40 licenses in the original version of the bill.
The law was passed with 30 votes to 2.
25 of these licenses would be available to Ohio’s casinos and racecourses called Racinos, which could then work with outside companies to offer online sports betting or mobile apps.
Another 33 licenses would be for stationary locations, which could include casinos, racinos, sports bars or betting shops where people can watch games and bet on them.
“Our coalition is grateful for the care taken in drafting a bill that will provide opportunities for fair market access for Ohio’s professional sports organizations that produce the games that make sports betting possible.” The Ohio Professional Sports Coalition announced in a statement.
The bill also allows betting on Ohio University soccer and basketball games, which the Inter-University Council of Ohio rejects. Council CEO Bruce Johnson says legalized sports betting will require universities to monitor athletes to make sure they are not involved in the spot shave and that students are not giving inside information to bettors.
The bill also provides for betting kiosks in bars and nightclubs that serve liquor. Bets are limited to point spreads, total points scored in a game and moneylines, which are odds wagers on which team will win. There is also a wagering limit of $ 200 per day.
In addition, the legislation would allow electronic bingo in veteran and brother organizations monitored by the Ohio District Attorney and sports betting operated by the Ohio Lottery Commission.
The Ohio Casino Control Commission will begin accepting applications for sports betting licenses on January 1 and begin issuing licenses on April 1. Ohio could generate approximately $ 17 million in tax revenue for fiscal year beginning July 1, 2022 and $ 23 million the following year. after a legal analysis. The bill will put 98% of the tax into an education fund and the remaining 2% into a problem sports gambling fund.
Under the College Athlete Compensation Act, universities or college sports conferences would be prevented from punishing athletes if they were compensated based on their athletic performance. The law was passed unanimously.
Such compensation can include anything from a book signing at a bookstore to doing business with a local restaurant. Exceptions are sponsorship for marijuana, alcohol, tobacco, and casinos, which the bill doesn’t allow, according to lawmaker Sen. Niraj Antani, a Republican from the Dayton area.
Athletes would have to notify universities 15 days before signing endorsement contracts. The Senate Committee on Labor and Higher Education approved the bill on Tuesday, the same day Ohio State University soccer coach Ryan Day testified that a quick passage was needed to ensure other states with similar laws closed the schools in Ohio would not disadvantage.
As of 2019, at least 16 states – including Arizona, Nebraska, and Michigan – have passed laws that allow college athletes to make money through advertising, sponsorship offers, and other types of promotions based on their athletic success.
Five of these bills – approved by Alabama, Florida, Georgia, Mississippi, and New Mexico – become law on July 1st.