DeWine proposes sports betting tax for Browns stadium funding

Ohio Governor Mike DeWine has strongly advocated for his plan to increase taxes on sports-betting companies. He aims to use the extra revenue, estimated at $288 million over two years, to help fund a new stadium for the Cleveland Browns and support youth sports. DeWine emphasized that 98% of sports betting is done online and the majority of profits go to out-of-state companies. He argued that those profiting should help contribute to Ohio’s stadiums. The governor also highlighted that this funding would not directly affect bettors in the state. While DeWine is pushing his tax increase, state lawmakers are instead considering issuing $600 million in bonds for the Browns' new stadium. This plan has raised concerns among some lawmakers about whether future tax revenues will be sufficient to pay off the bonds. The Browns’ ownership has committed to covering any shortfalls with upfront cash. However, some House Democrats question the reliability of the financial projections and are urging for a detailed review before moving forward with the funding plan.