Ohio House Votes Down Senate Sports Betting Tax Increase

by | Jun 21, 2023 7:12 pm | Legal | 0 comments

Ohio House Votes Down Senate Sports Betting Tax Increase

Ohio House of Representatives

  • The Ohio House of Representatives did not concur with the Senate-approved tax rate amendment.
  • A legal sports betting tax rate increase from 10% to 20% was approved in the Ohio Senate on Thursday.
  • The Ohio Casino Control Commission recorded over $45 million in tax revenue since their launch in January 2023.

COLUMBUS, Ohio. – A sports betting tax rate increase to 20% from the current 10% rate was voted down by a 3-1 margin in the House on Wednesday afternoon after being approved by the Ohio Senate. The amendment to House Bill 33 would’ve been a small portion of the $85.8 billion dollar Ohio budget.

Ohio lawmakers from both chambers meet in a conference committee to reach a compromise. The bill must be signed before June 30 in order to become law for the 2023-2024 fiscal year beginning on July 1.

Governor DeWine has pushed for a tax rate increase just weeks after legal sports betting launched in Ohio on January 1, 2023. The Senate amendment to the budget bill would double the State’s tax revenue come football season, which reached $44.9 million in just four months.

According to the Ohio Casino Control Commission’s monthly gaming revenue reports, the state had just under $450 million in taxable revenue across four months with legal sports betting. With Ohio’s launch at the end of the NFL season, fans were only able to bet on the hometown Cincinnati Bengals in four games.

Still, excluding the $319.9 million in promotional funds, legal Ohio online sportsbooks saw over $770 million in gross gaming receipts in January. With Ohio betting so much, its understandable why Governor DeWire wants to double the state’s sports betting tax revenue.

There are currently seven legal US betting states with a sports betting tax rate of 20% or higher. Smaller states like Rhode Island and Delaware tax at a 50% rate, while more comparable markets to Ohio, such as Massachusetts and Tennessee, have online sports betting tax rates at 20%.

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