Ohio To Legalize Sports Betting
Earlier this week Bill 176 passed in the Ohio Senate to legalize sport betting in Ohio. Since 2018 four states that border Ohio have all passed laws making this industry legal. These states are Pennsylvania, West Virginia, Indiana and Michigan. Sports Gambling is a million dollar industry and the states that have legalized it have brought in significant revenue through tax dollars. Ohio looks to fully legalize sport betting by April 2022 with the projected revenue for the state looking to be between $17 to 23 million in the first year.
Another aspect of the law will be in relation to where the sports books are held. With the Bill that is being passed, 58 licenses will be available for sports books in the state of Ohio. Of the 58 licenses, 33 of these will be for brick-and-mortar establishments, and 25 will be for online sports books. The number of brick-and-mortar sports books each city will receive is based on population, so a city like Cleveland in Cuyahoga County would likely receive three sports books. This would essentially make each professional sports team in Cleveland their own sport book and the casinos and racinos would be left out. The Indians, Cavaliers and the Cleveland Browns would all benefit from taking part in this industry.
Baker, Money Maker
One of the hottest NFL bets right now is that of NFL MVP. The players that sit at the top five on this list right now are all expected names. Patrick Mahomes, Aaron Rodgers, Josh Allen, Tom Brady and Lamar Jackson. Other than Mahomes all of these players have relatively similar odds to win MVP. One player that is sneaking under the radar right now is Baker Mayfield. Mayfield is 12th right now in MVP odds with +3300 odds (via Draftkings) which is surprising for a quarterback who won 11 games last year and has a star studded roster to work with. Putting a mere $100 on Mayfield would end up paying out $3300 if the quarterback were to bring home the award.
Other Notable Odds
The Cleveland Browns shocked the world last year, winning 11 games and making it to the playoffs for the first time since 2002. This year they look to better their performance. Other than Mayfield’s MVP odds there are also quite a few good bets this year for the Cleveland Browns. The AFC North was very tight last year. The Pittsburgh Steelers ended up at 12-4, with the Baltimore Ravens and Cleveland Browns tied at 11-5. This year the Browns odds are +145 to win the division, +750 to win the conference and +1600 to win the Super Bowl (via DraftKings). This should be very encouraging for Cleveland Browns fans as +1600 is top seven for Super Bowl odds.
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