Large economic impact
As states continue to dream of ways to generate more tax funding, the turn to online gambling has gained credence in multiple states.
Ohio already allows customers to place sports bets from their phones and laptops anywhere within state lines. The only difference with the new pair of bills is that, instead of backing the Ohio State Buckeyes on the spread, they’d be hitting on a 16 at the online blackjack table or spinning an online slot wheel.
“It would expand a consumer base of players who prefer an online setting,” John said during a committee hearing Tuesday. “We already have online gambling in other forms—this just takes it to the next level.”
Stewart estimated that Ohio’s prospective iGaming market could result in $400-800 million in annual tax funding once it develops. Stewart’s bill would allocate 99 percent of revenue generated from online gambling into the state’s general fund, allowing lawmakers to divvy it up at their discretion.
The addition of iGaming and iLottery platforms would also create more careers in the booming technology industry.
“It’s a job creator — job creation in technological development,” said John.
Split opinions
While the economic benefits of legalization hang over the discussion, lawmakers are not convinced that either bill would be to the benefit of locals.
“I know we’re supposed to say gaming because it doesn’t sound as bad as gambling,” Ohio House Speaker Matt Huffman (R-Lima) said of SB 197. “Gambling is like other various vices, and the more you have of it, the more people are going to be injured by that.”
Ohio Senate President Rob McColley (R-Napoleon) said that, with gambling already legalized, adding iGaming would simply give consumers more personal choice.
“I think there’s a different tone and tenor about some of these things than maybe there was ten years ago,” said McColley. “I think a lot of times, Ohioans want to have a little bit more choice as to how they spend their money and spend their recreational time.”
Manning previously noted that Pennsylvania, one of seven states with online casinos, received $964 million in iGaming revenue and $195 million in iLottery revenue.
SB 197 is set for its second hearing on Thursday.
