About two months after the governor called legalized sports betting "inevitable," the Ohio legislature issued a plan that would allow people within its borders to bet on both professional and college sports.

According to the report Washington Times the Senate proposal would allow for 40 sports betting licenses. These licenses would be divided into online and retail sports betting.

Half would be for state casinos and racino for partnering with companies like DraftKings or FanDuel to offer online sports betting, while the other 20 licenses would be awarded to operators operating land-based locations. At this point, it wouldn't make sense for states to legalize retail sports betting without an online option, as the overwhelming majority of sports betting revenue comes from online sportsbooks.

The legislation would emulate others such as Arizona, which allows professional franchisees to operate sports betting in their stadiums. It will also allow small businesses such as bars and restaurants to get a license as well.

Licenses would be good for three years and would cost $1 million, keeping most small businesses from trying to get one and leaving it mostly to large companies. The Ohio Casino Control Commission would oversee the market and operators would be taxed at 10% of net revenue.

Most of Ohio's neighboring states have already legalized online sports betting, and when Governor Mike DeWine said it was inevitable his state would legalize it as well, he argued in part that the money was leaving Buckeye State and headed elsewhere.

Pennsylvania, Michigan, Indiana and West Virginia have regulated markets. Only Kentucky doesn't have one, but its Governor Andy Beshear has also been a vocal advocate for the development of gambling in his state.

The bill will also allow the Ohio Lottery to run $ 20 betting pools that would be run slightly differently than traditional bookmakers. Lost tickets will fund payouts to winners.