Sports Betting Weekly Review: Is Such Deception Required?
The Ohio legislative conference committee has reached an agreement on a new state budget, bringing a sense of closure to the budgetary process. One of the notable changes in the budget is the tax on wagering, which remains at 20%, as no new tax hike proposal has been implemented.
In 2023, Ohio doubled its sports betting tax from 10% to 20% following Governor Mike DeWine's initiative. Although DeWine proposed increasing the tax rate again from 20% to 40% in 2024 and early 2025, this proposal was rejected, leaving the current rate unchanged.
The sports betting market in Ohio continues to thrive, with total wagers nearing $5 billion in the first half of 2025. Despite earlier discussions on tax hikes, no new increase has been implemented in the latest budget cycle.
Meanwhile, the sports betting landscape is not limited to Ohio. Florida's sports betting market has taken a step forward, with a federal court overturning a ruling blocking sports betting in the state.
Elsewhere, Illinois has signed on with U.S. Integrity for integrity monitoring services and has also partnered with ProhiBet, a partnership between U.S. Integrity and Odds on Compliance. These partnerships aim to ensure fair play and prevent any potential fraud in the sports betting market.
The sports betting industry is also focusing on responsible gambling. The Entain Foundation U.S. has funded a partnership that will involve gambling harm education and awareness workshops delivered to the entire membership of the Major League Soccer Players Association. Additionally, EPIC Risk Management announced a three-year deal to provide gambling awareness educational programs to all MLS players.
In other news, Massachusetts now requires '21+' on sportsbook logos visible from sports venues, a move aimed at promoting responsible gambling.
The sports betting industry is not immune to controversies. The NFL suspended Colts DB Isaiah Rodgers, among others, for violating sports betting policy. There have also been developments in the sale of PointsBet's assets. Fanatics purchased PointsBet's U.S. holdings for $150 million, and DraftKings made a $195 million bid for PointsBet's American assets. It is speculated that DraftKings' bid may have been an act of revenge by its CEO.
Lastly, the NCAA has adopted more lenient policies for sports betting violators, marking a shift in its approach to sports betting.
As both chambers must now vote on the report by the end of the day, the future of Ohio's budget and its sports betting market remains uncertain. However, one thing is clear: the sports betting industry continues to evolve, with new developments and controversies arising regularly.
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