*Blog postings do not necessarily reflect the views of Fantini Research

By Steve Norton
CEO, Norton Management

Where Will Sports Gambling in Ohio Take Place?

My comment: 

Restricting sports betting, just to casinos and racetracks, will be a big plus for these gaming establishments, but will not produce the expected new tax revenue or eliminate Ohio residents’ use of Illegal overseas sites or bookies.

The convenience of betting on smartphones and computers, available at home and work, will produce the most play, but it becomes a real problem for those with compulsive tendencies and adds the risk of minors, using a parent’s credit card or bank info, to bet illegally.

In communities where casinos and racetracks are further than a 25 to 30 minute drive from resident population the state might consider a limited number of sports betting parlors that offer a superior game watching experience, and take bets on game outcomes, plus in-game and proposition bets.

These parlors could also include food and beverage services, and in order to make them profitable, considering the low margin of sports betting, the state might allow them to install a small number of video gaming terminals. VGT's would also provide a reason to visit these betting parlors when sporting events aren't available.

These parlors should be owned and operated by the existing licensed casinos and racetracks, paying the same tax rate.

Convenient locations would help reduce the number of Ohio citizens using bookies and illegal overseas sites that pay no taxes, provide no employment, lack oversight, and provide inferior odds.

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