COLUMBUS (AP) — The start of the new year brings legalized sports to Ohio with plenty of betting features.
A year ago, Republican Gov. Mike DeWine signed a law allowing sports betting, a resolution that became imaginable through a U. S. Supreme Court ruling. UU. de 2018 that overturned a federal ban on states legalizing sports betting.
Ohio joins more than 30 states where enthusiasts can bet on sports.
The law creates 3 licenses that will be overseen through the state’s Casino Control Board.
These licenses govern cellularArray as in a telephone application; betting on controlled sports through casinos, racinos and professional sports teams; and bars, restaurants and other retail sites with self-service gaming kiosks.
The State Legislative Services Commission has estimated that sports betting will eventually be a multibillion-dollar industry in Ohio.
WHEN DOES IT START?
It starts as soon as the clock strikes after New Year’s Eve.
The Cincinnati Hard Rock Sportsbook invited Pete Rose to place the first bet.
Rose, of course, accepted a lifetime suspension from baseball in 1989 after an investigation revealed he had bet on the Reds while playing and managing the team.
WHERE CAN PEOPLE PLACE BETS?
Adults 21 and older who are physically in the state will be able to place bets anywhere, anytime.
Most bets will be placed on sports gaming apps on phones.
Casinos and racinos open sports where you can place a bet and watch matches.
Professional sports groups and the Guangzhou Football Hall of Fame are also opening sports betting.
Gaming kiosks will also be installed throughout the state at many licensed bars, restaurants, bowling alleys and grocery stores.
While larger sports apps are expected to accept bets right away, some of the sports and kiosks will delay their launch, so punters may need to check before leaving.
Kroger, the nation’s largest classic grocery retail chain, is delaying the opening of kiosks at its 42 licensed retail stores long after the start of the year.
The Ohio Casino Control Commission said 16 corporations would be in a position to offer online gambling on Jan. 1.
WHERE AND HOW WILL THE PARIS KIOSKS OPERATE?
The Ohio Lottery Commission will oversee the regulations and operation of the kiosks and plans to have a list of locations.
The kiosks will have commands for players and will be limited to taking bets: points margin bets, over-under, cash lines and parlays.
WHAT BETS ARE ALLOWED?
Professional sports in the United States, school sports, some foreign sports and even esports.
People can also bet on car races, Olympic events, golf and tennis.
But bets are not allowed on the best school games, pre-recorded events or safe bets on props, such as a player who will be injured or how many consequences or timeouts are requested.
WILL PROFITS BE TAXED?
Your bet
How much will depend on how much the bettor earns in a year.
Online sports will track a person’s earnings.
If you win big, you’ll likely get a tax form.
The IRS requires that gambling winnings be income.
Meanwhile, operators will pay a 10% tax on the net source of revenue, to fund K-12 education and gambling programs.
Local Business Directory
Thank you for sharing our on social media.
Remember us by clicking below.
Send this to a friend