Everyone hoping to capitalize on some marquee NBA betting odds is in for a treat on Thursday night. What is usually a two- or three-game slate has grown to a four-contest affair. And every single matchup is just dripping with intrigue.
As more and more places in the United States continue to legalize sports betting, Ohio remains one of the biggest holdouts. Though legislation has been proposed in the form of HB 29, there has been very little movement on the subject, even as the state saw a stark decrease in local revenue streams over the past 24 months. Not even seeing nearby states like Illinois adjust their stance on sports betting has driven Ohio to action. It has made many wonder whether a real change will ever come.
But how soon? And what does this vote actually mean? And what can it actually do? Do we have a chance of seeing legal sports betting in Ohio over the near term?
As New York gets set to join all the other places in the United States that have legalized and officially implemented online sports betting, they have taken yet another step toward finishing the entire process. It isn't one that will necessarily excite prospective bettors or sportsbook providers, but make no mistake, it is an important one—not to mention one of the last.
New York State has set final tax rates for online sports betting as of late October. Here's the thing: We don't yet know what those rates are. They only impact prospective betting providers, and because New York is still hammering out the bidding among commercial casinos and sportsbooks, they have so far kept the rate under wraps.
For bettors specifically, this may not seem very consequential. But it is. If New York's tax rate is extremely high, it could prove prohibitive when trying to draw in the business of top online sportsbooks. And if that happens, it could, in turn, slow the overall rollout process of legal online sports betting.
Is this actually what we should expect? Let's figure that out.
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