Ohio senator advocates for reduction of sports betting taxes

The senator noted that Ohio may lose business to neighboring states with better tax policies, like Kentucky, Michigan, Indiana, and West Virginia. He issued a warning that maintaining a higher tax rate could harm local sports bettors and cause financial difficulties for smaller bookmakers, which could impede the industry's expansion.

He stated that a return to 10% would be a reasonable compromise, but he would prefer to have a tax rate of 6.75%, which is the lowest in the nation.

 

[gwolf666]

I agree with the senator's concerns. Ohio’s current tax rate could indeed push businesses and sports bettors to neighboring states with more competitive policies. This would not only harm local bookmakers but also slow down the growth of the industry in Ohio. A return to a 10% tax rate seems like a fair middle ground, ensuring the state remains competitive while still generating revenue. However, aiming for 6.75%, as the senator suggests, could make Ohio a leader in the market and attract more business in the long term. Balancing growth and revenue is key.