Ohio Governor DeWine Aims to Double Sports Betting Tax Rate in Proposed Budget

Ohio Governor Mike DeWine is attempting to double the tax rate from 10 percent to 20 percent just over a month after sports betting became legal in the state. This increase is part of his biennial executive budget plan for the 2024–2025 fiscal years.

The budget doubles the tax on sports wagering that casinos and teams operating mobile sportsbooks must pay. A Bloomberg Tax analysis shows that the tax is just a little bit higher than the average 19 percent levied by other states.

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Commentary: Legalized Sports Betting Has Transformed the Fan Experience

A couple of days before Christmas, I went to see the NHL’s Nashville Predators play on their home ice against the defending Stanley Cup champion Colorado Avalanche.

Amid all the silliness of a modern pro sports experience – the home team skating out of a giant saber-toothed tiger head, the mistletoe kiss cam, a small rock band playing seasonal hits between periods – there was a steady stream of advertising for DraftKings, a company known as a sportsbook that takes bets on athletic events and pays out winnings.

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Ohio Sports Betting Companies Fined $150K After ‘Repeated Violations’

Mere days after Governor Mike DeWine cited concerns with Ohio’s new sports betting setup, the Ohio Casino Control Commission (OCCC) issued three more warnings for infractions on Thursday.

According to the OCCC, BetMGM, LLC (BetMGM); American Wagering, Inc. (Caesars), and Crown OH Gaming, LLC (DraftKings) violated state law and administrative rules regarding advertising.

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Sports Betting in Virginia Exceeds $2 Billion in Wagers Cast Since January Launch

Virginia’s new sports betting continues to set records, with $427 million in wagers cast in October thanks to five weekends of football, postseason baseball, and the opening of the NBA season. Sportsbetting was launched in the Commonwealth on January 21, and October’s results helped make Virginia the fastest state to exceed $2 billion, according to a PlayVirginia press release.

“It took Old Dominion a little less than nine months to reach the milestone. The previous record-holder, New Jersey, took about 10 months to reach $2 billion in wagers,” PlayVirginia said.

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David Vs. Goliath: BetMGM Picks a Fight with Tennessee Owned and Operated Action 24/7 Over Jerry ‘The King’ Lawler Ad

An attorney for the Las Vegas-based BetMGM sportsbook company has claimed trademark infringement against its Tennessee-based competitor Action 24/7 because of two advertisements that Memphis wrestler Jerry Lawler tweeted this week. The Jerry Lawler ad prompted Las Vegas-based attorney Lindsey A. Williams to send a cease and desist letter to Action 24/7.

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Sports Betting Projected to Net Millions in Tax Revenue for Tennessee

Sports fans in Tennessee placed the first legal sports bets in the state this week, as sports wagering became legal Sunday.

Sports wagering is estimated to generate up to $4.5 billion in revenue each year, according to a study by Oxford Economics. The state will collect about 20 percent of that revenue – the second-highest tax rate on sports betting in the country – to support scholarships in the state.

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