• Us States That Have Legalized Sports Gambling
• States That Legalized Sports Gambling Sites

States have shown that they can generate a lot of revenue and safely manage sports betting. But lessons can be learned about where the line should be drawn to avoid overtaxing bettors and the gambling industry. More states should continue to legalize and expand sports betting. BOSTON – Seven states in 2020 have passed some form of sports betting measure to legalize the market and more states are rumored to fall in line during the 2021 legislative sessions. In 2020, Louisiana, Maryland, Rhode Island, South Dakota, Virginia, and Washington all passed bills to open up industries for gambling on sporting events or add.

State Congress has agreed, measure will likely to go into effect in June 2021

By Curt Berry, Staff Writer

• The sports betting measure on the Maryland ballot doesn’t outline a framework for sports betting. The referendum simply asks for a yes or no from state voters on whether sports betting should be legalized. The lack of specifics for Maryland’s sports betting bill stems from complications due to the COVID-19 pandemic.
• In May 2018, the Supreme Court opened the floodgates. The water continues to rush through. Three more states adopted legalized sports wagering this week, with Maryland, Louisiana, and South Dakota.

So, can we gamble on our beloved sports teams, place our five team college football parlays, and take the Bengals against the spread? We can probably find a way, but can we do it legally in Ohio?

Let me fill you in on what’s new with Ohio sports betting. For starters, both sides of state Congress have agreed to legalize sports gambling.

The process to legalize sports gambling is taking awhile because there are still parts of the bill that congress has yet to look over, and with the election going on, they haven’t had a chance to do so.

After the election, however, they will be able to finish it and then pass the bill. It takes roughly six months for the bill to get into action, so it should be effective by June of 2021.

Once June comes around, all the major gambling operations will come to town, such as DraftKings and FanDuel. Gamblers will need to use Wi-Fi and a geolocation that shows they are in Ohio to be able to create an account with these two websites.

You don’t like online sports gambling? Head to the casino, and they should be ready to take your money.

Once this is legalized, you should be able to gamble on sports at every casino in Ohio.

As much as the state of Ohio loves seeing you happy and winning money, they will need a cut of this too.

Ohio Casino Control Commission will oversee all sports betting and will charge the following: A 8% tax rate, a $100,000 license at casinos and race tracks, a $10,000 management fee and a $1,000 renewal fee.

The two other major sportsbooks coming to Ohio when betting is legalized are BetMGM and PointsBet.

BetMGM is the online sportsbook partner of the MGM casino. This sportsbook has a history of being the first in line to be in operation once sports gambling is legalized in various states.

You should also expect to see MGM at the physical casinos itself.

The sportsbook has great promotions, so be sure to read up on those when it is legalized. The one I’m most excited for, however, is PointsBet.

PointsBet has all of your spreads, parlays, moneylines, futures, etc… but they also have-wait for it-points betting.

This means you can gamble on a spread, and depending on how many points you win by, you get more money.

Us States That Have Legalized Sports Gambling

For example, if you had the Bengals at +13 but they end up losing by three, you get more money because the Bengals covered the spread by 10 more points than they had to.

However, if they end up losing by 30, you lose more money than what you originally put in. It’s a crazy concept, I know, but I love it, and it’s a fun way to bet.

So we have a couple months before this train really gets rolling in Ohio.

However, it sounds like it will take off faster than Authentic did out of the gates when he won the 2020 Kentucky Derby in September, which definitely made everybody who bet the 8-1 odds happy.

Categories: Sports

While the U.S. presidential election process had not yet produced a clear winner by Wednesday morning, it was a night of decisive victories for the tide of legal sports betting.

Voters said yes to legalizing sports betting in all three states where the question was on the ballot: Louisiana, Maryland, and South Dakota (for the casino-friendly city of Deadwood). In Maryland, 66% of voters approved, and in South Dakota, 59% of voters approved. In Louisiana, where the vote was handled by parish, 55 of 64 parishes approved, including key cities like Baton Rouge and New Orleans.

That brings the grand total to 26 states (plus Washington, D.C.) that have either launched legal sports betting or passed the legislation and are waiting to launch. (Colorado, Nebraska, and Virginia voters also said yes to expanding casino gaming in their states.)

But the newest three states don’t just flip a switch now and turn on the gambling faucet. Lawmakers have to pass companion legislation to determine specific details like tax rates. In all three states, it will likely take until 2021 to fully pass and launch sports betting. (Legalizing mobile sports betting must happen separately; only a handful of the states that have legalized in-person sports betting have also legalized mobile sports betting.)

States That Legalized Sports Gambling Sites

DraftKings and FanDuel, the fantasy sports companies now rapidly launching legal sportsbooks across the country, spent heavily on TV and radio advertising in the weeks leading up to Election Day in states where sports betting was on the ballot. In Louisiana, each company spent more than $250,000.

Since 2018, when the U.S. Supreme Court struck down the federal ban on sports betting, gaming companies have been in an arms race to launch sportsbooks in states that have legalized.

And in the past year, a second arms race has unfolded: a battle to rack up betting sponsorships directly with pro sports franchises.

DraftKings has announced sports betting partnerships with the New England Patriots, New York Giants, and Philadelphia Eagles in the NFL, and with the MLB’s Chicago Cubs. (DraftKings went public in April by merging with an already-public SPAC; its shares are up 110% since.) FanDuel has signed betting partnerships with the Denver Broncos and with the Memphis Grizzlies, the company’s first NBA team betting deal. Meanwhile, the Tennessee Titans signed a betting deal with BetMGM.

“We’re seeing record engagement levels,” DraftKings CEO Jason Robins said on Yahoo Finance in the first week of the 2020 NFL season. “It’s not just because we’ve entered new states—even in the existing states we were in at the start of last NFL season, like New Jersey and West Virginia, we’ve seen enormous year-over-year growth in those markets as well.”

As the tide of legalization continues, expect the frenzied race to sign team betting deals to accelerate. And that trend is sure to change the fabric of U.S. pro sports leagues over time.

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Daniel Roberts is an editor-at-large at Yahoo Finance and closely covers sports business. Follow him on Twitter at @readDanwrite.