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Sports betting is now legal in Ohio. What will that mean locally and for state tax coffers?

BAISHAMPAYAN GHOSE
/
CREATIVE COMMONS

Sports betting became legal in Ohio when the clock struck midnight Jan. 1, and plenty of local businesses are getting in on the action.

The Ohio Casino Control Commission has approved licenses for sports betting enterprises operated by Hard Rock Casino Cincinnati, Belterra Park and the Cincinnati Reds, all of which announced last year that they would be ready to open Jan. 1.

Other entities are licensed but weren't as clear about when they would be ready to take bets. The Ohio Casino Control has approved sports betting kiosks at bars, restaurants and multiple Kroger stores throughout the state.

The Ohio Legislative Service Commission estimates sports betting will generate $24 million in tax revenue in the fiscal year ending June 30, 2024, which will be its first full year of implementation.

But what could this new form of gambling mean for taxes generated by casinos and other wagering that's been legal in Ohio for years?

On Cincinnati Edition, we'll discuss what legal sports betting could mean locally and for state tax coffers.

Guests:

  • West Virginia University Professor of Economics and Contemporary Economic Policy Editor-in-Chief Dr. Brad Humphreys
  • WCPO 9 I-Team reporter Dan Monk
  • Associated Press reporter Julie Carr Smyth
  • New York Times investigative reporter Eric Lipton

Listen to Cincinnati Edition live at noon M-F. Audio for this segment will be uploaded after 4 p.m. ET.

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