Ohio sports betting revenue will now be used to aid local veterans with the creation of the Ohio Sports Gaming Profit Veterans Fund.
This will see an estimated $70,000 per year to aid the Ohio Veterans Homes in the Buckeye State.
The funds will be distributed by the Ohio Department of Veterans Services.
COLUMBUS, Ohio – Ohio lawmakers have recently created the Ohio Sports Gaming Profit Veterans Fund. This will see revenue from sports betting be used to aid Ohio veterans.
Ohio is set to launch its regulated betting market on January 1, 2023, and the Ohio Casino Control Commission (OCCC) has been announcing its applicants weekly.
HB 29, the bill that regulates betting in Ohio, sees that 0.5% of sports betting license fees will be sent to the veteran’s fund.
Ohio Betting For Veterans
The Ohio Sports Gaming Profit Veterans Fund will be overseen by the Ohio Department of Veterans Services. This group oversees the funding of Ohio Veterans Homes.
There are two veteran homes that are under the department and these are located in Georgetown and Sandusky.
The funding will be used to aid veterans and military families. This includes healthcare, veteran nursing home, retirement benefits, and the Ohio Veterans Bonus Program. This program aids veterans who served in the Iraqi conflict, the Persian Gulf, and Afghanistan.
The funds will be issued out during a five-year licensing period where over $350,000 is expected to benefit veterans.
The fund is expected to impact the more than 750,000 veterans in Ohio. The Buckeye State has the sixth highest veteran population in the nation.
This is just another example of how legal sports betting can have a positive impact on communities.
News tags: Columbus | Georgetown | Ohio | Ohio Sports Gaming Profit Veterans Fund | Sandusky
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.