Sports gambling is hugely popular throughout the world with an estimated $250 billion in bets made annually. The US already accounts for $40 billion of that, up from $20 billion in 2009, and is on pace to grow $10 billion annually.
However, it was only legal in the US in the state of Nevada - until May 2018 when the US Supreme Court made it permissible for individual states to pass their own laws surrounding sports gambling. Seven states took advantage of this change and instituted sports betting before the close of 2018, including West Virginia and Pennsylvania. (Indiana instituted it in 2019).
With the proposal of House Bill 194 and Senate Bill 111 Ohio became one of 29 states with pending legislation to permit sports betting. While the economic potential is enormous (consider the tax revenue), there are many concerns. Gambling addiction, regulatory questions, and the effect it has on teams, individual players (professional and amateur), and sports leagues leaves some people wondering if it's all too good to be true.
Our panel will feature David Greenspan (State Representative from the 16th District), one of the primary sponsors of HB 194, as well as Nicole Metzgar-Schall (Corporate Counsel at Sportradar) and host Doug Buchanan (Editor in Chief at Columbus Business First).
State Representative for District 16
Editor in Chief
Columbus Business First
June 19, 2019