EXPLAINER: Sports betting to begin in Ohio with new year
The start of the new year brings legalized sports betting to Ohio. A year ago, Gov. Mike DeWine signed legislation allowing sports gambling. The legislation creates three types of licenses that will be overseen by the state’s Casino Control Commission.
The first legal sports betting begins as soon as the clock hits midnight after New Year's Eve. Pete Rose will place the first bet at the Hard Rock Sportsbook in Cincinnati. Rose was banned from baseball in 1989 after an investigation found he placed numerous bets on the Reds while playing for and managing the team.
Adults age 21 and older who are physically in the state will be able to place bets just about anywhere at anytime. Most bets will have to be made through sports gaming apps on phones. Casinos and racinos are opening sportsbooks. Pro sports teams and the Football Hall of Fame in Canton are making plans to open sportsbook. Gaming kiosks will also be set up in hundreds of licensed bars, restaurants, bowling alleys and grocery stores. Kroger is delaying opening kiosk in its 42 licensed stores until well after the beginning of the year.
The Ohio Lottery Commission will oversee the rules and operation of betting kiosks. The kiosk will take bets on point spreads, over-under, money lines and parlays.
Sports betting to begin in Ohio with the new year. It's allowed for pro sports in the U.S., college sports, some international sports and even esports. People can bet on auto racing, Olympic events and professional golf and tennis. There's no wagering allowed on high school games, pre-recorded events or prop bets.
Online sportsbooks will track a person's winnings. If you win big, you'll be sent a tax form. The IRS requires you to report gambling wins as income. Operators will pay a 10% tax on net revenue to help fund K-12 education and problem gambling programs.
