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Free bets are not just a promotion. They can also help you make an actual profit. If you’re planning to enter the business of betting on sports, free bets may be a good way to earn money. This article will help you understand how to figure out whether you could make a profit with free bets in 2023.

Will there be legal sports betting in Ohio on New Year’s Day 2023?

The state is currently developing legislation to allow legal betting on sports. Bill 29 proposes 40 licenses for retail sports betting to be granted to the state’s casinos. This will allow Ohio’s four biggest casinos to offer sports betting facilities.

January 1st, 2023 marks the date for sports betting licenses in Ohio. Since January 1st, the Commission has not issued any revised timetable guidance. A number of states attempt to coordinate legal sports betting’s start with the NFL kickoff. However, the Ohio Casino Control Commission is moving more slowly. While sports betting in Ohio is not ready to go live on New Year’s Day 2023 it is still possible.

Sports betting has already become legal in Pennsylvania. Sports betting lounges for retail opened in November of 2018 and the first sportsbook online launched in May. The deadline for Ohio’s legal betting on sports is much later than the deadline for online gambling, it plans to launch brick-and-mortar sportsbooks and sports betting kiosks in bars. will require an enormous amount of logistical work to implement the state’s ambitious plans.

Is there a tax on betting for free?

Sports betting operators in Colorado will be able to deduct free bets from their net earnings from sports betting. The state has a tax rate of 10 percent. rate, meaning that free play revenue will be deducted at a reduced rate starting in January 2023. The deductions will be reduced to 2.5 percent of the total monthly sports betting handle between 2024 between June 30, 2025 and 2024 and two percent of the total monthly sports betting handle in 2026.