Ohio Lottery Guides Businesses Making Sports Betting Kiosks Payouts
Ohio’s sports betting bill will allow small businesses to have sports betting kiosks in their establishments. So, Ohioans could find betting kiosks in local bars and restaurants. But those small businesses would need the money on hand to pay winnings immediately. The Ohio Lottery has released guidance about how to overcome this small business challenge. […]
The SPIRE Institute: How the Strangest Ohio Sports Betting Application has Merit
Many organizations have submitted an Ohio sports betting application. They include sportsbooks in other states and businesses that want a piece of sports betting’s revenue stream. But one retail sportsbook applicant has raised eyebrows. The SPIRE Institute applied for a retail sports betting license in Ashtabula County. It’s surprising because of its influential role in […]
What to Expect from Ohio Sports Betting Revenue at Launch
Ohio sports betting revenue will follow a seasonal pattern that may initially surprise Ohioans. Sports betting is a seasonal business. Bettors place money on the events that they’re most interested in. So, sports betting handles peak during the most popular sports seasons. Sports betting’s peak season runs from September to March. This time includes football, […]
How Awarding an Ohio Sports Betting License can Go Wrong
The Ohio Casino Control Commission is deciding which gambling companies can earn an Ohio sports betting license. It has to weigh different variables, including hardware, software, finances, the executive team, and legal compliance. One small challenge has been a handful of tweets from one prospective sportsbook company, betJACK. Some of its summer tweets: Explicitly linked […]
International Marketing Challenges Come to Ohio Sports Betting
Ohio is facing international marketing challenges that the sports betting industry continues to grapple with. Ohio’s draft sports betting rules prohibit advertisements that: “Promote irresponsible or excessive participation in sports gaming, or suggest that social, financial, or personal success is guaranteed by engaging in sports gaming.” This goes a step further than Ohio’s current […]
Long Wait for Ohio Sports Betting Launch Could Prevent Potential Pitfalls
By the time the Ohio sports betting industry launches, Ohio regulators will have had just over a year to write industry rules. That’s a generous timeline compared to other major sports betting markets. Colorado had five months between sports betting legalization and the industry’s launch. That makes the Colorado Division of Gaming’s recent excoriation make […]
Ohio Sports Betting Legal Rules Foreshadow Coming Change
Ohio sports betting legal differences from other states are easing a much-needed change into the sports betting industry. It will not allow sportsbooks to advertise bonuses as “risk-free” unless customers can earn credits without spending their own money. This targets risk-free bets, which behave more like first bet insurance and are not risk-free. Recently, FanDuel […]
Unethical Marketing Shows Value Of Ohio Sports Betting Marketing Regulations
One of Ohio’s aspiring sportsbook brands has already begun a social media marketing push. betJACK is offering free-to-play sports betting until real money sports betting goes live on Jan. 1, 2023. But some of its early ads, if not illegal, are examples of the unethical marketing that advertising regulations are designed to prevent. The ads […]
Ohio Sports Betting Regulations Include Ontario-Style Marketing Rules
The updated Ohio sports betting regulations draft includes new guidelines on sportsbook marketing. While that doesn’t sound groundbreaking for bettors, those guidelines determine whether Ohioans will see welcome bonuses everywhere. Ohio, which will launch sports betting statewide on Jan. 1, 2023, has adopted slightly stricter marketing restrictions than other American markets. It seems to have learned […]
How Much Money Ohio Sports Betting Could Generate For The State
Ohio sports betting will launch on Jan. 1, 2023. When it launches, it could make millions for Ohio. The fiscal note on Ohio’s sports betting bill estimates that Ohio sports bettors could wager $2.7 billion in the first fiscal year of sports betting. The fiscal note further assumes taxable revenue of $177 million in sports […]