The Ohio Casino Control Commission on Wednesday, Sept. 21, approved 13 platforms for sports betting licenses when Ohio online sports betting launches on Jan. 1. The sportsbooks named include BetMGM, Caesars, and FanDuel. among others.
The new sportsbooks approved on Sept. 21 come two weeks after the first batch of sports betting licenses were approved.
- Prophet Exchange
Sports betting operators and their key representatives must pass background checks and financial scrutiny, and partner with an approved proprietor in the state of Ohio. Conditional approval does not guarantee final approval to operate in Ohio, but it indicates that most of the due diligence has been completed, and that licensing will be forthcoming.
The Ohio sports betting market will launch on Jan. 1, 2023, with at least 20 online sports betting apps expected to be in place on that date. The state passed legislation legalizing sports betting in December 2021 and has been carefully planning the coordinated launch of its market — both for online and retail sportsbooks.
Regulated sports betting is a safer and more secure way to wager on sporting events, which is the primary reason Ohio legalized the activity. Bettors in Ohio age 21+ will be permitted to wager on both professional and college athletics.
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Sportsbooks Licensed in Ohio
Under the authority of the Ohio Casino Control Commission, sports betting operators can apply for a five-year license to provide a sportsbook in Ohio. The licenses are available in three categories: Type A, Type B, and Type C.
Below we examine the status and expected plans for each of these sportsbooks, all of which have been conditionally approved by the OCCC, as of Sept. 21.
DraftKings has applied via a partnership with Hollywood Casino Toledo for a Type-A operator’s license. It’s expected that DraftKings will be available for Ohio sports bettors when the market debuts on New Year’s Day 2023.
Barstool is applying for a mobile operator’s license in partnership with Hollywood Casino Columbus. Barstool Sportsbook is available in 13 states, and the company’s casino game app is operating in Pennsylvania, New Jersey, Michigan, and West Virginia.
Through a deal with the Cleveland Guardians, bet365 is expected to offer a mobile sports betting app, and also potentially have a branded retail location or betting windows at Progressive Field in downtown Cleveland. Currently, bet365 is only available online in Colorado and New Jersey, but it has retail sportsbook operations in two other states.
The Cincinnati Bengals named Betfred as a gaming partner before the 2022 season. The company’s license application is for a mobile (Type-A) license. Relatively new to the industry, Betfred is available in four states: Arizona, Colorado, Iowa, and Pennsylvania.
One of the leaders in the sports betting and gaming industry, BetMGM seeks to operate a sportsbook at MGM Northfield Park, its racino in Northfield, Ohio. The company also has a working arrangement with the Cincinnati Reds, and could potentially have a sportsbook operating at Great American Ballpark.
Offering some of the best odds in the industry in a variety of sports, BetRivers is a popular sportsbook. Currently, the BetRivers app is available in 10 states: Arizona, Colorado, Illinois, Indiana, Iowa, Louisiana, Michigan, New York, Pennsylvania, and Virginia. BetRivers has applied for a license in partnership with the parent company of the Pro Football Hall of Fame.
Other sportsbooks to receive conditional approval from the OCCC include Betway, Caesars Sportsbook, Fanatics, FanDuel, Fubo, Prophet Exchange, and Superbook. For a complete list and more details, visit the OCCC website. More sports betting operators and vendors are expected to be approved in the coming weeks.
Important Dates for Ohio Sports Betting
At the stroke of midnight on Jan. 1, 2023, sports fans in the Buckeye State will be able to wager via online sportsbooks and retail sportsbook locations. Parlay bets, prop bets, and futures bets, will all be allowed under Ohio sports betting rules. For online betting, customers will need to be in the state and at least 21 years of age to participate.
As the seventh-most populous state in the U.S., Ohio is expected to be one of the bigger sports betting markets. In 2021, the Legislative Budget Office estimated that $10 million could be generated for the state from license revenue in 2023, and ultimately as much as $3.35 billion in total handle could come from the Ohio sports betting market in the first three years of operation.
With Ohio taxing gross revenue from sports betting operators at 10%, that could potentially mean hundreds of millions for the state treasury.