Ohio has decided against a proposal to increase its sports betting tax from 20% to 40%. However, North Carolina is doubling its rate from 18% to 36%, after seeing revenues exceed initial estimates. Ohio Governor Mike DeWine initially advocated for the increase to fund stadium construction and youth sports, citing aggressive gaming operations affecting local players. Meanwhile, North Carolina’s new tax will place it among states with the highest rates, potentially generating substantial revenue for the state budget.
These sports gaming [groups] are extremely aggressive... they're in your face all the time. They're getting Ohioans to lose massive amounts of money every year and it seems to me only just and fair that some of the stadiums be paid for by them or a portion of it.
The move to raise rates in the Tar Heel State comes just over a year after legalized betting launched. The industry brought in $135 million through the end of March, surpassing initial expectations of about $100 million per year.
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