(THE CENTER SQUARE) – At $82.5 million in handle sending 10% of net revenue to the state, Ohio certainly won’t be playing like a sportsbook rookie in Super Bowl LVII.
The Buckeye State legalized gambling on Jan. 1. Projections for the first year are about $8 billion, and gambling publication PlayOhio has pegged the Super Bowl showdown to generate one of the top six takes for any state.
“No legal U.S. sports betting market has as many unknowns surrounding the Super Bowl as Ohio does,” Eric Ramsay, lead analyst in the play-branded sites of the Catena Media network, said. “The Bengals’ loss in the AFC Championship game certainly tamps down our expectations a bit, but we still expect to see Ohio sneak into the top five states for sports betting handle – barely a month removed from launch.”
Kansas City and Philadelphia will clash outside of Phoenix in Glendale’s State Farm Stadium on Sunday, Feb. 12, with kickoff scheduled for 6:30 p.m. EST. The American television audience is expected to be near 100 million, and the legal sportsbook handle is estimated to set a U.S. sporting event record at $1.1 billion.
Ramsey said the Ohio projection would have gone higher had the Cincinnati Bengals defeated the Chiefs in the AFC Championship.
Similarly, PlayPennsylvania pegged the Eagles’ participation to add about a $15 million bonus to the Keystone State’s sports handle.
Only Nevada ($176 million), New York ($161 million) and New Jersey ($115 million) are expected to definitively top Ohio this year. Illinois ($86 million) and Pennsylvania ($80 million) are also in that next level.
State government’s 10% take on net revenue of operations goes to public and private education, gambling addiction and problem gambling. Ohio, with a population just below 12 million, was the fourth-largest state to legalize the industry.
In the fall, PlayUSA estimated Ohio to have a first calendar year of more than $8 billion in handle and about $600 million in operator revenue.
When sports gambling in the Buckeye State became legal, 10 different sportsbooks – Bet365, Betfred, BetMGM, BetRivers, Caesars, DraftKings, Hard Rock, PointsBet, SuperBook Sports and Tipico – were up and running. According to PlayOhio, today there are 28 online and retail sportsbooks, including 16 sportsbook apps, and 12 retail sportsbooks at Ohio casinos, racinos and professional sports stadiums. Kiosks are available at bars, restaurants and grocery stores statewide.
