Ohio Governor proposes increase on sports betting tax rate
The increase on sports betting tax would go towards funding professional sports facilities and youth sports education.
Key Points
- Governor Mike DeWine announced his budget priorities for 2026-2027 on February 3, which also included a new child tax credit
- The proposal would increase the current sports betting tax rate in Ohio from 20% to 40%
Ohio Governor Mike DeWine has introduced his budget priorities for 2026-2027, including an increase on the current sports betting tax rate in Ohio from 20% to 40%, which would help to fund professional sports facilities and youth sports education.
Governor DeWine’s priorities were laid out on February 3 as part of a $218m budget plan for Ohio, which would cover both 2026 and 2027.
He stated that he believes an additional $130m-$180m would be generated from the increase on sports betting tax each year, and that the money would be allocated by a group selected by the Governor and Legislature.
He also stated that some sports betting companies have acted “extremely aggressive” and that residents have been losing heavy sums of money to operators each year. His budget plans were presented as the Cleveland Browns professional football franchise prepares to move to a new facility located in Brook Park.
Good to know: The Ohio Casino Control Commission reported the state’s sports betting revenue for the month of December 2024, including a total of $55.5m generated during the period
The Cincinnati Bengals franchise is reportedly looking to make major renovations to its home facility as well, Paycor Stadium.
Among Governor DeWine’s other priorities were an increase on taxes for cigarettes and a new child tax credit which would provide $1,000 annually for Ohioans with children under the age of seven.
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