As of January 1, 2023, sports betting is legal in Ohio for both retail and online sportsbooks. Now, anyone over the age of 21 and inside Ohio may place a wager on sports. The process of legalizing sports gambling started on December 8, 2021, when the General Assembly passed House Bill 29.

Canada Sports Betting. Sports betting in Canada is legal, with each province able to regulate the activity with its own set of rules. Most provinces have some form of sports betting available via provincial lotteries, and the options are likely to continue to grow.

Since a 2018 Supreme Court decision removed a federal ban on sports betting, a number of states, including New York, Michigan and Pennsylvania, have legalized this pastime that millions were taking part in even before it was legal.

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Bottom line. Any winnings from a sports bet must be reported as income on your tax return. You can deduct gambling losses, but only if you itemize your deductions and they don’t add up to more than your winnings.Feb 12, 2024