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Updated Ohio Sports Betting Sponsors Look to Continue Momentum

by capitalizefinancial
June 22, 2021
in Sports
0
Updated Ohio Sports Betting Sponsors Look to Continue Momentum

Ohio lawmakers advanced a sports betting bill last week after months of negotiations, building sponsors’ hopes the bill can pass the full legislature by month’s end.

The bill, which was amended earlier this month to permit up to 25 online and 33 retail licenses, passed the Senate with only minor opposition last week. The House must pass an identical version of the bill before it can pass into law.

The latest version of the bill is designed to prioritize licenses to Ohio’s professional sports teams and organizations, which lobbied heavily for these changes during more than a dozen hearings earlier this year. However, this amended, sports league-friendly legislation could shut out some of the state’s casinos from retail sportsbooks, creating another possible conflict in what has already been a lengthy and complex legislative process.

Ohio Sports Betting Bill Latest Details

As many as 25 separate operators could apply for online licenses under the current bill, five more than an earlier version’s limits. Each licensee could then contract with two separate online operators apiece, meaning there could be as many as 50 online skins, one of the highest caps in the country.

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