With a good amount of citizens being sports fanatics, governments worldwide use sports betting as a means to earn revenue via taxation. In Ohio however, betting is not operational yet, albeit being legal. This said, the state will soon be in a position to make sports wagers as the law will be effective in less than a year. This will see to it that every game fan who wishes to place sports bets will have apps and websites ready on their phones. On the same note, the state government will generate some income.
How Much Can the State Make Through Betting
As is the case with all other states in the United States, Ohio’s betting law has a sportsbooks tax rate of 10%. This rate is calculated after all bets have been paid out and will be imposed daily. With a 10% tax on sportsbooks, some estimates project the annual revenue from Ohio sports betting to be around $90 million. Most of this revenue is set to go to K-12 learning. The other part will go to gambling problems organizations. These are institutions that help prevent as well as treat gambling problems such as addiction.
What Applications Can One Use
For brick-and-mortar betting locations, Fubo Sportsbook is the official mobile sports betting partner according to Cleveland Cavaliers. As for online betting, Ohio sports betting permits the launch of more than 25 sportsbooks apps. Fans can hence choose from a range of apps. These include FanDuel which is already available in Ohio as a daily fantasy sports giver. In Buckeye State, BetMGM might apply for the betting license. Another application is Caesars. This company has the necessary footprint in Ohio to venture into sports betting. Other apps are Hard Rock,Jack Entertainment, Barstool and DraftKings among others.
Who Can Bet?
As stated above, Ohio allows several betting apps. This creates room for competition among the providers. However, there are features that overlap in all the software. For instance, a luring welcome bonus. Firms issue this bonus mainly after registration or after making the first deposit. Another trait among betting apps in Ohio is availability of various depositing methods. Sportbooks want to make it easy for wagers to put cash into their accounts. To this end, they usually allow deposits from Paypal, electronic checks, debit and credit cards,online banking as well as direct bank deposits.
Tips For Betting
As fun as betting sounds, it can be a bit tricky. Here are some tips to help betting participants. First, familiarize yourself with the jargon in the betting world. Secondly, find a betting software that suits you. With so many apps out there, find one that favours your interests. Use one that caters for all your betting needs including, deposit and withdrawal methods, bonuses available and the security of your information. During registration, betting apps require valuable details including banking information. Therefore, beforehand, ensure that a company is capable of protecting your data.
Who can bet in Ohio
According to Ohio’s sports betting law, anyone above the age of 21 can place bets. This said each sports betting services provider might have their own rules. The most important thing is for anyone willing to bet to equip themselves with all the vital information. To avoid addiction, gambling sites urge fans to read about it and if they feel they require aid, to consult necessary parties. Often, these sites have a toll free number available round the clock to help gambling addiction victims. They as well try to raise awareness about it.
Final Say
There are lots of popular sports teams in Ohio. Additionally, the state is home to various universities with leading athletic teams. This variety ensures that sports fans have an array of wagers to pick from. Among the sports that wagers should expect to bet on are football and basketball. These two games have an abundance of scoring, thus it is simple for betting hosts to use both team and individual players’ statistics. The other major games are baseball and hockey. Other sports are table tennis, tennis, boxing, soccer and mixed martial arts and others.
From the above, opening up sports betting to Ohio is beneficial. The state government will acquire revenue to help in the state’s education system as well as treatment of betting addiction, which is rising by the day in other states. More so, the availability of jobs in the betting industry will increase. Games wagering firms, especially the ones accessible remotely need to hire people to collect, payout and count bets. This means that they will have vacancies for the unemployed. Software developers will also have to hire experts to develop the betting apps.
