Ohio

Ohio Sees Two Sportsbooks Apply for Early Licensing

The Ohio Casino Control Commission has finally taken the next step as it pertains to legal online sports betting as it is now accepting applications. Online sports betting in Ohio will not officially begin until January 1, 2023, and it will take that group that long to receive applications and hand out licenses.

Ohio could have a massive online sports betting market when things are fully operational, and it is a state that is going to attract plenty of big names. When the first application period opened up in the state, two of the top names in this industry were quick to apply.

BetMGM and PointsBet were the first two companies to submit a license, and they opted for a service provider license. Even though the Casino Control Commission will ultimately have to approve these sportsbooks, that is expected to happen in the coming weeks.

These online sports betting operators had to find a partner in the state of Ohio before they were able to apply for a license. While there are some big names that are still working on this process, it wasn’t a challenge for BetMGM or PointsBet.

BetMGM was the first sportsbook operator to submit an application as it applied for a mobile and online sportsbook license on June 15. BetMGM will be able to launch in Ohio through the MGM Northfield Park Casino.

PointsBet Sportsbook has been preparing for launch in Ohio for a couple of years as this company partnered with Penn National Gaming. Penn National has a number of properties, and PointsBet submitted an application on June 16.

Not Much Time Left

The first application period in Ohio began on June 15, and it’s actually set to close on July 15. That doesn’t give operators much time to get their application in, but the state is going to continue opening up new windows.

The second application period is set to close on August 15 after opening up on July 15. This time is reserved for those retailers that want to offer retail sports betting with a lottery kiosk.

The Casino Control Commission has warned sports betting operators that it will be overwhelmed with the second period and that sportsbook operators should get applications in quickly. There could be close to 40 online sportsbooks going live on January 1 and hundreds of retailers.

The language of the sports betting law does require that all forms of sports betting begin on the same day. After the industry initially launches on January 1, then sportsbook operators will be approved on a rolling basis.

Promotions Will Come Quickly

Sportsbook operators played a large role in getting sports betting legalized in the state of Ohio, but things have been pretty quiet since that time. That is going to change as soon as the first application is approved.

Since the Ohio online sports betting market is expected to be so competitive, sportsbooks will have to start working quickly to get customers signed up. Hard Rock Sportsbook has already announced plans to offer a pre-launch promotion to get everything in line for a January 1 launch.

Not only is Hard Rock offering a pre-launch promotion, but this offer will actually decline in value over time. BetMGM and PointsBet have experience in offering a pre-launch bonus or promotion as well, and this is when the competition will really start to heat up.