Rep. Brian Stewart of Ohio intends to introduce legislation legalizing iGaming in an effort to boost state revenue. Critics raise concerns about the economic and social ramifications, arguing that it could damage physical casinos and encourage gambling addiction.
A Republican state legislator from Ohio is drafting legislation that would enable citizens to use their phones or other electronic devices to play online casino games.
The chairman of the House Finance Committee, Rep. Brian Stewart, intends to propose legislation to legalize iGaming and bring in more money for Ohio.
Additionally, Stewart is the sponsor of House Bill 96, which is the House’s version of the state budget for the next two years. Following their mockery of Governor Mike DeWine’s plan to boost the sports betting tax rate from 20% to 40%, Republicans approved it.
Some opponents, however, raised worry about the impact on current land-based casinos.
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“What appears to be fairly consistent is your brick-and-mortar properties are being cannibalized by iGaming,” Daniel Reinhard, Senior Vice President of Government Affairs for Cleveland-based JACK Entertainment, told the Commission.
He went on to say, “When you look at a dangerous product with a high prevalence of gambling addiction that’s going to eat into your existing brick-and-mortar base, you consider what it’s going to do.” How does it benefit Ohio? Ohio might lose employment.
Ohio Among Top-Performing Sports Betting States
Ohio has 15 active online sportsbooks, which include bet365, BetMGM, Caesars, DraftKings, Fanatics, and FanDuel. In 2024, sports bettors wagered $8.88 billion, with online platforms accounting for almost 98% of total income. Only three states had higher handles: New York, Illinois, and New Jersey.
Ohio’s 20% sports betting tax has been in effect since 2023, when DeWine raised it from 10%.
Courtesy: https://igamingexpert.com/, https://www.igbnorthamerica.com/, https://www.covers.com/industry/
