There was more Ohio online casino discussion this week, but a bumpy road remains ahead.
Ohio legislators discussed Rep. Brian Stewart‘s House Bill 298 during a House Finance Committee meeting Tuesday. Stewart is the chair of the finance committee, and Tuesday’s hearing focused on proponents, while another hearing will focus on opponents.
It is one of two bills in the legislature aiming to legalize online casino in the Buckeye State.
Tuesday online casino hearing
Last week, Buckeye State senators discussed Senate Bill 197. That saw proponents advocate for more licenses and lower license fees and tax rates. Opposition largely pushed the thought that online gambling would cannibalize in-person casino and lottery revenue.
Legislative proponents like the revenue additions the industry would bring, potentially more than $600 million annually. Proponents also argue residents are already gambling online, just illegally.
Another hearing later will focus on opponents like the National Association Against iGaming, a group of casino operators opposed to online casino expansion. The group includes Cleveland-based JACK Entertainment.
House bill details
Stewart’s bill would create 11 licenses for the state’s casinos and racinos. Along with a $50 million license fee, the state would tax sports betting revenue at 28%.
Licenses would carry a $10 million renewal fee.
The bill prohibits credit card funding and online bonuses and promos. It would also ban online sweepstakes casinos.
Senate online casino differences
Sen. Ethan Manning’s SB 197 would also create 11 licenses at a $50 million fee. The state would tax sports betting revenue at 36%, or 40% for a contracted company.
Licenses would carry a $5 million renewal fee.
The bill also legalizes iLottery and pari-mutuel horse racing wagering.
Ohio gambling situation
Last year, legislators submitted a study on the future of gambling in Ohio, which included some favorable opinions on online casinos.
It also said Gov. Mike DeWine’s 2023 sports betting tax doubling, to 20% from 10%, was premature. That was before DeWine proposed this year to again double the rate to 40%.
Legislators stripped it out of DeWine’s proposed budget. However, this month, Sen. Louis Blessing introduced a bill that would add a 2% handle tax to sports betting.
