Ohio Governor Mike DeWine is reportedly pushing to double the current sports betting tax rate in the FY2024-25 state budget.
Ohio Governor to Push for 100% Hike in Sports Betting Tax, DeWine is unhappy with the revenues collected since sports betting in Ohio launched earlier this year and has proposed a tax hike from the current 10% to 20%.Although the Ohio Casino Control Commission has yet to release its revenue data since the industry launched on January 1st, projections put the overall sports betting handle at around $10 billion for the year. At the current tax rate of 10% and with player winnings and the cost of operations taken into account, this would mean taxes of $10 million per year. However, there is no guarantee that it will reach that figure.
Ohio Governor to Push for 100% Hike in Sports Betting Tax with its 51% tax has collected over $700 million in its first year of mobile sports betting. While local reports suggest that DeWine is not inclined to push for a comparative rate in Ohio, he does feel that the industry should be putting more back into the local economy. Ohio Governor to Push for 100% Hike in Sports Betting Tax
Jenny Tang
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.