Sports fans in Ohio can place their first legal wagers Jan. 1, 2023. The Buckeye State becomes the 33rd state to allow sports gambling. Legalized in 2021, under the bill, HB 29, that passed both legislative chambers last December and was signed by Gov. Mike DeWine, Ohio sports betting will launch New Year’s Day.
Bettors will be able to place wagers on professional, college and esports. The bill allows for casinos, sports teams, stadiums, bars and restaurants to apply for gambling licenses, which will be regulated by the Ohio Casino Control Commission. Cell phone apps that offer sports betting will also be legal.
A 10% tax on net revenue will be implemented, with roughly 98% of that going toward funding public and private K-12 education and the remaining 2% going toward problem gambling assistance. By waiting until Jan.1 for the launch, one of the longest waits among any state with legalized sports betting, industry group PlayOhio estimated the state could lose $130 million a week by bypassing the majority of the NFL season. That could add up to more than $1 billion by the end of the year.
It is expected that the majority of the wagers will be placed on such Ohio-based teams as the Cleveland Browns, Cincinnati Bengals, Cleveland Cavaliers, Cleveland Guardians, Cincinnati Reds, Columbus Blue Jackets, and college teams such as the Ohio State Buckeyes and Cincinnati Bearcats.
Ohio’s law creates three types of gaming licenses that last for five years and goes into effect Jan. 1. The licenses include those for mobile apps, brick-and-mortar facilities and kiosks at certain lottery retail agents at bars and taverns across the state. According to PlayOhio, the Ohio Lottery has already approved 920 businesses to host a sports betting kiosk.
The betting bill also included retail sports betting in counties with 10,000 or fewer residents, as well as a league date requirement and esports betting. The ebetting market should encompass such betting apps as Caesars Sportsbook, BetMGM Sportsbook, FanDuel Sportsbook, Barstool Sportsbook and DraftKings Sportsbook, which have applied for and/or received Ohio licenses. There could be as many as 25 online sportsbooks in Ohio from the outset. The casinos and sports teams that have those licenses can apply for a second skin if they can demonstrate to the OCCC that the second skin will benefit Ohio on an incremental basis.
All equipment must be ready for commission verification by Dec. 1.
SIDEBAR
Survey: Ohio betters say legal gambling important
By J.D. Davidson | The Center Square
(The Center Square) – Ohioans are already making plans to place their bets on sporting events, even though legal sports betting will not begin in the state until January, according to a new survey.
The process for legal betting began June 15 with the state’s first application window. Betting can begin Jan. 1, and 46% of current state sports bettors said they plan to bet weekly, according to the survey of more than 600 current bettors completed by PlayOhio.
“The survey results suggest that there will be plenty of interest in the new, regulated sports betting market once things launch in January,” PlayOhio Managing Editor Danny Cross said. “Current bettors are clearly interested in moving to legal sportsbooks and away from offshore accounts, and they’ll have plenty of options to do so.”
More than 90% of respondents said betting on a legal site was either very important or somewhat important. Also, nearly 50% plan to bet one to five times a week, even though specific legal options aren’t yet known.
More than half also plan to sign up for a sportsbook app once Ohio betting becomes legal.
PlayOhio’s report pointed to an American Gaming Association statistic that showed 52% of all sports bettors bet offshore. Recently, a bipartisan group of Ohio lawmakers sent a letter to U.S. Attorney General Merrick Garland asking the Justice Department to prosecute offshore sportsbooks.
