Contributing author, Jeff Ifrah, presents key economic benefits for legalized online gaming in Ohio
May 17, 2019
Opinion: Revenue awaits with legalized mobile sports betting
This legislative session is the opportunity for lawmakers to provide a safe and legal environment for Ohioans to take part in online betting and gaming, as well as the anticipated economic boon that would result from a new source of state income. There’s growing momentum in Ohio to pass sports betting, and this week the House is taking a step forward on legislation.
Our association, iDEA Growth, was in Columbus last week to meet with lawmakers and their staff, the governor’s office and the Casino Control Commission. We shared best practices from other states to generate the most revenue, create economic growth and protect consumers in Ohio.
If done properly, sports betting in Ohio is anticipated to generate between $37 million and $60 million in annual tax revenue, and that would make it one of the largest markets in the country for sports betting. The boost in revenue will be seen here in Cincinnati, which is home to the highest number of professional sports stadiums in Ohio.
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