By comparison, the legal sports betting market produced a handle of $93.2 billion last year, according to the American Gaming Association. horseplayers wagered $12.1 billion in 2022. He said the gambling industries may “cannibalize” one another.Īccording to The Jockey Club, U.S. Seitz admitted that sports gambling has the potential to hurt horse racing. Those farms, which pay property taxes, rely on horses for boarding or breeding as well.” “And each of these horses has a mother and father who aren’t racing, so they’re living on a farm in a rural part of the state.
They need shoes, and vets and dentists,” he added. That’s so not what this industry is about,” said Annechino, who bought his first horse in 1981. “People think of horse racing and picture a bunch of old guys with cigars making bets in a dark room. He called his sport an important part of Ohio’s economy. One of Annechino’s greatest fears is the potential wide-reaching effects taking money away from horse racing would have on several industries, particularly in rural communities - veterinarians, breeders, farmers, etc. The goal, Seitz said, was to attract “superior quality of horse” to Ohio’s eight total racetracks.Īnnechino described that action by Ohio legislators as an acknowledgment that the new gambling options would take money away from the sport. The state constitutional amendment directed 3% of all casino tax revenue to the Ohio State Racing Commission for race purses and day-to-day operations. Racinos are horse tracks that have video lottery terminals or slot machines. No consideration was given to horse racing in Ohio's legislation because of a previous decision to use 3% of casino tax revenue to race purses and track operations. He said the state’s horse tracks and horsemen already received a “very generous” chunk of casino tax revenue when the state legalized racinos in 2009. Seitz admitted there was no specific consideration given to horse racing in the gambling bill. “There is no point in losing revenue to neighboring states.” “Ohio needed sports gambling because there is a tremendous appetite for sports gambling and because many of the states surrounding us already adopted it,” Seitz added. The remaining 2% goes to addressing gambling addictions. Almost all that money goes to K-12 education and athletics and other extracurriculars. The Sports Gaming Profits Education Fund receives 10% of all money wagered on sports and additional money from certain licensing fees. The longtime politician specifically referenced “how much additional money the state has generated” for schools and youth athletics in just the first few months. “I am very pleased with the sports gambling rollout,” said Seitz, the House’s majority floor leader. Jay Edwards, District 94-Nelsonville, and Bill Seitz, District 30-Cincinnati. Kirk Schuring, District 29-Canton, and State Reps. The push to legalize sports gambling in Ohio was led by State Sen.
“I just wish there was a little bit more recognition of how they really will impact things like horse racing, and we could have gotten something from that.” ‘No consideration’ of horse racing in Ohio’s sports betting law It’s part of our culture now,” he continued. “We knew sports betting was coming, but we felt that horse racing should have got a piece of the sports betting pie,” Annechino said.
“Sports gambling can’t help but have at least a little negative impact on racing.”īased in northeast Ohio, Annechino’s 15 horses race at all three thoroughbred tracks across the state, including Belterra Park, a turf course on the east side of Cincinnati. “If somebody bets $10 on the Browns or the Bengals, that’s $10 less they have to bet on a horse,” he added. The group advocates on topics ranging from breeding rules and training and track conditions to the races. “There’s only so much money people have to bet,” said Annechino, executive director of the Ohio Thoroughbred Breeders and Owners Association. That number is up from 18 last year.įrom January until March, bettors wagered $2.5 billion on sports in Ohio, with more than $2.4 billion being done online or via a mobile app, according to a report from the Ohio Casino Control Commission. Ohio and 25 other states have also legalized mobile sports betting. 1, 2023, Ohio became one of 36 states and Washington, D.C., to legalize sports betting in some capacity. But with the emergence of sports gambling, Annechino’s fear is those numbers could run a different direction in the future. The betting action follows a trend in recent years that shows more money being injected into purses and betting. Wagering on sports became legal in Ohio on Jan.
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