PROTECT LEGAL SPORTS BETTING
A 300% tax increase would hurt local Ohio businesses and mean fewer promotions, worse odds, and fewer options for consumers — driving people back to the shady illegal market.
- Operators are paying their fair share of taxes, despite a surprise tax hike in year one and Ohio already having one of the highest tax rates in the country.
- Maintaining a fair and competitive legal market is the best way to protect consumers from the shady, unregulated market.
- Unlike unregulated sportsbooks, legal operators are committed to responsible gaming practices that protect Ohioans.
Legal sports betting drives down the illegal market, but a 300% tax hike on legal sports betting threatens to jeopardize all Ohio’s progress, pushing consumers back to illegal sites that don’t pay taxes or protect consumers.
Legal sports betting has delivered for Ohio, resulting in hundreds of millions invested into the local market, job creation, and increased support for local businesses and Ohio sports teams.
“DraftKings Sports and Social to open bar in Columbus’ Short North” NBC4 — 05/02/2024 Article Link
“Fanatics Betting and Gaming partnering with Blue Jackets to open retail sportsbook location” ABC6 — 07/25/2023 Article Link
“Coming to The Banks: Nation Kitchen and Bar with a side of Cincinnati Reds sportsbook” Cincinnati Enquirer — 06/21/2023 Article Link
“FanDuel Sportsbook at Belterra Park holds opening with former Bengal T.J. Houshmandzadeh” — Cincinnati Enquirer 01/12/2023 Article Link
“Bringing BetMGM and Nation Kitchen & Bar together adds another exciting destination to our vibrant downtown.”
Illegal sports betting hurts consumers
Legal and regulated online sports betting offers a safe alternative to the illicit offshore marketplace, which continues to flourish in states that haven’t yet legalized online sports betting.
Experts estimate customers spend tens of billions on the illegal sports betting market each year, depriving state and local governments of significant tax revenue. These illegal and unregulated offshore sports betting websites are unsafe products – offering no consumer protections, age verification or responsible gaming protections. Illicit market users also routinely fall victim to scams and find themselves unable to remove funds from their accounts.
THE LATEST FROM OHIO
The move has raised many eyebrows, primarily because it could result in a decline in Ohio’s sports betting sector. There are also fears that a surge in betting costs could see sportsbook operators leaving the state and encourage bettors towards using illegal offshore sites
Ohio lawmakers are being warned that “Bob and Betty Buckeye” will also feel the pain of another doubling of the state’s tax rate for sportsbook operators, not just gambling companies
Gov. Mike DeWine’s budget plan to help pay for a new Cleveland Browns’ stadium and other stadium projects by doubling the state’s sports-gambling tax could be sacked just after kickoff, as Ohio House leaders from both parties expressed hesitation at best about the proposal