(The Center Square) – Just one day away from legal sports betting in Ohio, a new report showed that one segment of the market could generate approximately $80 million in total bets in the first year of betting.
Wagers can legally begin on Jan. 1 – the day after Ohio State plays Georgia in a national college football semifinal in the Peach Bowl and the same day that several traditional New Year's Day college football bowl games will kick off.
Betting can take place online and at casinos and retail sportsbooks established around the state. Ohio will also be the first state to offer more than 1,000 self-service betting machines in bars, restaurants, and grocery and convenience stores around the state.
It's those first-of-a-kind options that PlayOhio.com believes could generate $80 million in handle the first year. However, the kiosks are limited to a $700 weekly maximum, and prop bets or in-game bets cannot be made on them.
"The implementation of kiosks in Ohio does create room for more sports betting locations than just about any other market, but retail betting will still represent a small sliver of the total pie," PlayOhio.com lead analyst Eric Ramsey said. "The weekly stake limits are a limiting factor for kiosks in particular, but the ease and responsiveness of online betting apps, along with their around-the-clock availability, simply make them a more useful option for most bettors most of the time."
Some of the 1,000 kiosks will not launch on Jan. 1, though.
Kroger was approved for 42 locations around Columbus, Cincinnati, and Dayton but will not have the machines installed by the launch date, according to PlayOhio.com. The website estimated that even with the slower launch of self-serve kiosks, the Buckeye State could become one of the largest sports betting markets in the country. Officials projected that the state will have $8.5 million in total sports bets in the first year. Only New Jersey, Illinois, and New York would be higher.
The state issued 11 retail casino and racino sports betting licenses, and 22 of the maximum retail sportsbooks are likely to be approved for action on Jan. 1, PlayOhio.com noted. Also, 21 of the maximum 46 online sportsbooks will likely launch at the beginning of the new year.
