Ohio is one of the many US states that is currently contemplating legalizing sports betting. Ohio sports betting opponents are pushing for legalized sports betting but there are a number of challenges that need to be addressed.
One of the biggest challenges to legalize sports betting is who is going to regulate sports betting in the state. The Ohio Senate Select Committee is currently hearing testimony from multiple stakeholders about legalizing sports betting in the state and how Ohio stands to benefit from legalized betting.
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Ohio like many states has suffered a lot of financial setbacks in 2020 due to the COVID-19 pandemic and the lockdown that followed. State legislators are looking for new ways to kick-start the economy and legalized sports betting is one main options on the table.
Casino operators are keen to get sports betting up and running at their venues as they have suffered millions of dollars in losses during the lockdown. However, small business owners that offer lottery and keno games are against the idea of having only casinos offer sports betting.
These small business owners who offer lottery games are pushing for the Ohio Lottery Commission (OLC) to regulate sports betting. Since they are licensed lottery partners, they would then get the necessary approval to offer sports betting at their premises. They believe that sports betting should not be restricted to only casino operators but small business owners should also be given the option to offer sports betting as it will bring in new customers for them and increase their revenues.
A group known as the Fair Gaming Coalition of Ohio (FGCO) is behind this push claiming that legalized sports betting should not just benefit casino operators. If Ohio legalizes sports betting, the state government must ensure that as many people and businesses benefit from the newly regulated industry.
FGCO also pointed out that when Ohio decided to legalize casino gambling, the market estimates on what the land based casino industry did not pan out. Greg Beswick who represents the FGCO said that casino operators failed to keep their promises to the Buckeye state by not creating the amount of promised jobs and not hitting the numbers in terms of what they would deliver financially.
The FGCO believes that if sports betting is regulated by the OLC, it would be a win-win situation for all stakeholders involved.
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