Can You Make a Real Profit Using Free Bets in 2023?

Free bets do not just appear as a promotional offer. You can actually make a profit from free bets. Free bets could be an ideal way to start your career in the field of sports betting. This article will help you determine if you could make money with bets that are free in 2023.

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

The state is working on legislation that will allow legal sports betting. The bill, HB 29, calls for 40 licenses for sports betting retail that will be given to the state’s casinos. This will grant the four biggest casinos in Ohio the opportunity to offer betting on sports in a physical location.

January 1st, 2023 is date for sports betting licenses to be issued in Ohio. The commission hasn’t issued new timeline guidelines since January 1. While many states attempt to time the legalization of sports betting to coincide with the NFL kickoff however, the Ohio Casino Control Commission is moving slower. While sports betting in Ohio isn’t yet ready to launch on New Year’s Day 2023 it is still possible.

Sports betting has already become legal in Pennsylvania. Retail sports betting lounges were opened in November 2018 and the first online sportsbook launched in May. Although Ohio’s deadline to allow betting on sports is later than that for online gambling, it plans to open brick-and-mortar shops for betting and sports betting kiosks in bars. It will take lots of logistical effort to implement the state’s ambitious plans.

Will there be on any free bets?

Colorado sports betting operators will be able to deduct free bets from the net sports betting revenues. The state has a 10 percent tax rate, which means that free bet revenue will be deducted at a lower rate starting in January 2023. The deductions will be lowered to 2.5 percent of the monthly sports betting handling between 2024 between June 30, 2025 and 2024, and two percent of the total monthly sports betting handle in 2026.