It looks like Ohio is considering a significant increase in its sports gaming tax. Governor Mike DeWine’s proposal to double the tax rate from 20% to 40% would make Ohio one of the highest taxing states for sportsbooks.
If passed, the increase could generate an additional $130 to $180 million annually, with the funds earmarked for new sports facilities and education.
The move comes just two years after the legalization of sports betting in Ohio, when the tax rate was initially set at 10% before being raised to 20%.
Ohio’s sports betting industry saw impressive growth in its first year, generating $779 million in revenue.