Wright Bet Ventures, a gaming solutions company based in Dayton, has entered into an agreement with Elys Game Technology to open sportsbook locations in Ohio.
Ohio will launch sports betting and online casino gaming no later than Jan. 1, 2023, by law. The Ohio Casino Control Commission has yet to issue operator licenses, but recently released a draft license application and is in the process of formulating regulatory approval steps for the expected launch either later in 2022 or by the New Year’s Day 2023 deadline.
Elys Game Technology is a business-to-business gaming solutions company with agreements and operations in place in several countries and at least six tribal nations in the United States for casino and sports betting. They provide sports betting operational services through their subsidiary USBookmaking.
On its website, Elys describes itself as a “fully integrated international betting technology company providing an innovative, world-class betting platform…” Based in Italy, Elys has offices in Las Vegas, San Francisco, and Innsbruck, Austria.
Wright Bet Ventures Eyes Local Gaming Establishments
In a statement, Wright Bet Ventures explained that it plans to target sports betting services for established local venues that apply for and receive certain levels of Type B or Type C licenses from the OCCC. The state allows bars and clubs to apply for and receive sports betting or iGaming licenses.
“There are many in the online and large casino sectors, but very few are singularly focused on technology that is appropriate to be implemented into smaller more private facilities such as local establishments,” Dr. Kamal Morar, Co-Founder of Wright Bet Ventures said. “Our vision with Wright Bet Ventures is to bring the sportsbook experience into our community without altering the identities of the local establishments with which we partner. Our goal is to create the next level of interactive gaming experiences for Ohioans while we are enjoying events with friends and family in the comfort of places we already know and love.”
Certain types of restaurants and bars with liquor licenses can qualify for online and mobile app betting licenses, according to Ohio state law. As in neighboring Michigan, these establishments may pay for a gaming license that enables them to offer kiosks that allow for betting on sports or the play of legal casino games. In Ohio, those licenses are good for five years.
According to a report from the Ohio Legislative Service Commission, the Ohio sports betting market could be one of the largest in the U.S., potentially growing to more than $3 billion within two years of operation.