What the sports betting boom means to Ohio
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The Super Bowl is the pinnacle of sports betting, an industry that could mean even more to Ohio in the years to come.
Why it matters: Ohio is one of 38 states with legalized sports betting that receive some level of tax revenue on their residents' gambling.
Driving the news: Earlier this week, Gov. Mike DeWine proposed doubling Ohio's tax rate on sports-betting operators from 20% to 40%.
- DeWine suggested the added revenue from the tax could help fund sports stadium projects, including the Cleveland Browns' potential new stadium.
By the numbers: Ohioans collectively bet nearly $8.9 billion in 2024, up from nearly $7.7 billion in 2023, the first year of legal bets.
- The wagers have resulted in more than $1.8 billion in taxable revenue since January 2023.
The big picture: DeWine's proposal comes during peak betting season. When it comes to legalized sports gambling, there's football, and then there's everything else.
- Americans tend to wager far more money during the NFL and college football seasons than during other periods of the year, an Axios review of a dozen states' betting data finds.
Zoom in: In Ohio, sports betting surges during fall and winter months through January, at times surpassing $1 billion gambled.
The latest: Sunday's Super Bowl between the Philadelphia Eagles and the Kansas City Chiefs could break records in legal betting in the U.S.
- The American Gaming Association estimates Americans will wager $1.39 billion on Super Bowl LIX.
The bottom line: Sports betting has been legal in Ohio for just two years, and we may be just scratching the surface of its impact on the state.
Go deeper: Why football is peak season for sports betting
