COLUMBUS, Ohio — Ohio is wrapping up its first year of legalized sports betting.

What You Need To Know

  • Ohio brought in over $761 million of revenue from sports betting so far in 2023

  • In July, the state doubled the tax on the revenue generated 

  • There is now a law that can ban sports betters who threaten or cause harm to athletes

“Sports betting has done very well and generated millions of dollars in revenue for the state of Ohio and its services across the state,” said Steve Bittenbender, who serves as an analyst and writer with BetOhio.com.

Since the beginning of the year, Ohio sports gamblers have hit the ground running. The state has generated $761,701,415 in revenue so far in its first year. Experts attribute the success to the state’s number of sports teams. 

“Major professional sports do attract betting interest, but so does major college as well, and Ohio is fortunate enough to have a number of those teams,”  said Bittenbender. 

In July, lawmakers decided to double the taxes, which increased withholdings from 10% to 20%. Ohio will end its first year accruing $99,453,727 in taxes. 

“If I remember correctly, the legislative commission, in their fiscal note, expected Ohio to get, I think $31 million in sports betting taxes,” said Bittenbender. “That's my understanding. Obviously that number has, you know, exceeded what's been expected, but part of that is also because of the tax increase.”

Sports betting hasn’t come without challenges and controversy. Earlier this year, Anthony Grant, the head coach of the Dayton Flyers men's basketball team spoke out about the emotional and mental toll sports betting could have on players. 

“When we have people that make it about themselves and attack kids because of their own agenda, it sickens me,” Grant said during a January press conference.

The state quickly took action and in July Gov. Mike DeWine signed a law that would help protect athletes. It is the first of its kind in the U.S.

“They also included provisions that would allow the Ohio Casino Control Commission to bar individuals from placing bets if they make any type of threat toward an athlete.”

The city of Columbus recently announced the expansion of the Hollywood Casino area. The goal is to turn the area into a tourist attraction. The number of sports books available in the state is also growing by the day.

“I think this is something that's going to continue well into the next year,” said Bittenbender. 

There are around 20 operators in Ohio and experts are expecting that number to increase by the end of next year. Most of the money the state generates in taxes is earmarked toward the general revenue fund for school. The state also sets aside 2% to help those struggling with a gambling addiction and 0.5% of license fees goes toward a fund for veterans.