Differences between the proposals
While both bills aim to legalize Ohio online casinos, the two bills are not companion bills and differ on some key issues. Most notably, Stewart has proposed a 28% tax rate, lower than the 36%-40% in Sen. Nathan Manning’s Senate Bill 197.
Even with this, Stewart expects the 28% rate to generate $400 million a year at a minimum, and possibly as much as $800 million in additional tax revenue.
The license renewal fee is also different with the new bill proposing a $10 million renewal fee every 5 years, compared to the $5 million fee proposed by Manning. Although Manning’s bill sets the same fee for third-party licensees.
New Ohio Casino Bill Proposes Ban On SweepstakesBan on sweepstakes
The other major difference is that Stewart’s bill also includes an explicit ban on sweepstakes casinos that is not present in SB197.
The bill defines an “online sweepstakes game” by its digital accessibility, using a dual-currency system and allowing players to engage in gambling activities, including bingo, sports betting, casino gaming, and lottery games.
Several other states also have active bills tackling sweepstakes and social casinos that have seen an exponential rise in popularity over the past few years. They are especially popular in Ohio, with platforms generating an estimated $3.7 billion last year from Buckeye State residents.
Ohio aiming to expand gambling market
New Ohio Casino Bill Proposes Ban On SweepstakesThe danger may be in too many different proposals, all differing slightly. Since the tax hike was rejected, lawmakers have also proposed taxing betting handle at 2%.
The latest proposal will now be reviewed by the House Finance Committee. All proposals have until the end of the legislative session to make it into law, which runs until the end of the calendar year.
Adam is an experienced writer with years of experience in the gambling industry. He has worked as a content writer and editor for five years on sites such as Oddschecker, CoinTelegraph and Gambling Industry News, bringing excellent knowledge of the world of sports betting and online gambling. Adam focuses on emerging stories in the ever changing landscape of betting in the US. Read the latest on prediction markets, changing legislation, and sweepstakes.
