Ohio won’t initially allow sports betting companies to deduct promo bets
Ohioans are seeing ads for new online sports betting services that will begin on the first day of the new year. Many of them offer promotional bet credits for signing up. In Ohio, the companies will be taxed at 10 percent of their proprietor's net revenue from sports gaming. Some states like Maryland and Virginia have already introduced their legal sports gambling. Ohio's law prevents the promotional credits from being deducted in the company's first four years of operation. It will limit the deductions of promotional credit wagers to 10% from 2027 through 2031 and to 20% in 2032 and beyond.
