EXPLAINER: Sports betting will start in Ohio from the new year

COLUMBUS, Ohio (AP) – At the start of the new year, sports betting is legal in Ohio with a plethora of betting options.

A year ago, Republican Governor Mike DeWine signed into law legislation allowing sports gambling. The move was made possible by a 2018 U.S. Supreme Court ruling overturning a federal ban on states legalizing sports betting. Ohio joins over 30 other states where fans can bet on sports.

The legislation establishes three types of licenses, which will be controlled by the State Commission for the Control of Casinos. These licenses govern betting on mobile devices, such as the phone app; gambling at betting shops operated by casinos, casinos and professional sports teams; as well as bars, restaurants and other retail outlets with self-service gaming kiosks.

The State Legislative Service Commission has calculated that sports betting will eventually become a multi-billion dollar industry in Ohio.

WHEN DOES THIS BEGIN?

It begins as soon as the clock strikes midnight after New Year’s Eve. Cincinnati bookmaker Hard Rock invited Pete Rose to make his first legal bet there. Rose, of course, agreed to a lifetime ban from baseball in 1989 after an investigation revealed he had made numerous bets on the Reds while playing and managing the team.

WHERE CAN PEOPLE BET?

Adults aged 21 and over who are physically in the state will be able to wager almost anywhere at any time. Most bets will be placed through sports gaming apps on phones. Casinos and casinos open betting shops where you can place bets and watch games. Professional sports teams and the Canton Football Hall of Fame are also planning to open betting shops. Game kiosks will be installed across the state in hundreds of licensed bars, restaurants, bowling alleys and grocery stores.

While the biggest sports betting apps are expected to accept bets immediately, some bookmakers and kiosks will be postponing their launch so bettors may want to check before they go. Kroger, the country’s largest chain of traditional grocery stores, is postponing the opening of kiosks at its 42 licensed stores until the start of the year. The Ohio Casino Control Commission said that on January 1, 16 companies will be ready to offer online betting.

WHERE AND HOW WILL BETS WORK?

The Ohio Lottery Commission will monitor the rules and operation of the stalls and plans to compile a list of locations. The kiosks will have instructions for players and will be limited to accepting certain bets: spread bets, over-under, money lines and parlays.

WHAT BETS ARE ALLOWED?

Professional sports in the US, college sports, some international sports and even esports. People can also bet on auto racing, Olympic events, professional golf and tennis. But you cannot bet on school games, pre-recorded events, or certain side bets, such as whether a certain player will be injured or how many penalties or time-outs will be called.

WILL THE WINNINGS BE TAXED?

You bet. How much will depend on how much the player earns in a year. Online bookmakers will track a person’s winnings. If you win big, it is likely that you will be sent a tax form. The IRS requires you to report gambling winnings as income. Meanwhile, operators will pay a 10% tax on net revenue to help fund K-12 education and anti-gambling programs.

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