The biggest gaming expansion in Buckeye State’s history. Ohio sports betting will begin on January 1, 2023, after Gov. Mike DeWine signed into law that the operation would begin on or before the new year.
Things Leading Up to the Ohio Sports Betting Market Launch
The Casino Control Commission decided to set the sports betting launch date to January 1, 2023, on Wednesday. Lawmakers that supported the sports betting bill wanted the market to launch sooner so that bettors across the state could take part in betting on NFL games.
In sports betting, the last quarter of the year is the most prized because it starts in the fall and ends early in the winter. Operators notice that the average betting volume starts to pick up when the summer months come to an end.
The monthly handles across the industry usually note a solid decline during the summer months as the MLB, and other sporting events don’t attract even the sporadic bettors. Unfortunately, bettors will have to wait until the NFL playoffs and college football bowl games which include the Cotton Bowl and Rose Bowl.
The state will certainly miss out on a plethora amount of revenue as bettors within the state won’t be able to partake in wagering on the World Series. However, gaming officials must ensure that the process runs smoothly before, during, and after the launch date.
Going Into Further Detail on the Ohio Sports Betting Market
The anticipation could be hard to wait for bettors across the state, but this is a big leap forward as Ohio is the seventh most populous state in the country. There is another important task the gaming officials have on their hands before the operation begins.
The gaming authorities must investigate 3,000 applicants as numerous sportsbook operators, and other entities are looking to launch their mobile platforms or set up shop at retail casinos.
All the bookmakers that receive approved licenses to conduct business in the state must all start on the same date, which is January 1, 2023. Ohio could have 50 online casinos and 40 retail sportsbooks.
The Commission, in a report, stated that these in-person sportsbooks can be found in four casinos, seven racetracks, and ten professional sports venues throughout the state. The Commission will also be launching a new licensing site on June 15 that will reveal which bookmakers and entities are applying for a license.
Bars, restaurants, bowling alleys, and other establishments with liquor licenses will have betting kiosks in them so players won’t miss out on whatever the circumstance may be.
Will Ohio Sports Betting Hype Live Up to the Hype
Like every new state that enters the industry, some jurisdictions live up to the expectations, and some don’t. On paper, Ohio should be a prominent market in the industry in 2023 and beyond. Bettors across the Buckeye State will be able to wager on in-state collegiate programs, the Olympics, and other events.
The Vice President for Governmental Affairs, Stacy Rastaukas of Ohio State, wrote to the Commission detailing the issues that could arise if bettors get to place wagers on in-state teams. In many states that don’t allow betting on in-state teams or don’t have specific restrictions, athletic directors have outlined the potential issues that could affect student-athletes.
The Cincinnati Bengals lost to the Los Angeles Rams in the Super Bowl by a score of 23-20 and are looking to go back to win. The Cleveland Browns made solid acquisitions to make them strong contenders, and the Cleveland Cavaliers are an upcoming team in the NBA.
Ohio also has one of the most elite college football programs in the nation in the Ohio State Buckeyes. It seems that Ohio has the makings of a strong sports betting market.