The Ohio Casino Control Commission this fall will likely release a wagering catalog of sports that have been approved for Ohio sports betting, a commission spokesperson said this week.
Jessica Franks, Director of Communications for the OCCC, said that the commission is working its way through the rules process first. Franks indicated that there may be news about the catalog as early as next week, but that it would not include a list of sports that Ohio bettors can wager on as of yet.
A catalog of sports lists the approved sports that a state will allow wagers to be accepted for. Sportsbooks may only list odds for those sports and competitions. A catalog typically evolves and is updated periodically.
Ohio passed legislation that legalized sports betting in December 2021, and in June announced the launch date to be Jan. 1, 2023. The OCCC is responsible for accepting applications for operation, licensing, oversight, sports betting rules, and administering responsible gaming, as well as monitoring revenues and taxes to be received.
Ohio Sports Betting Will Offer Various Ways to Wager
Ohio’s General Assembly passed House Bill 29 on Dec. 21, 2021, but the law did not go into effect until March 23, 2022. On June 1, the state revealed a schedule that set New Year’s Day of 2023 as the formal launch date. Ohio is the seventh-largest state in the U.S. and is expected to be a significant market for sports betting. Sports betting is legal in 30 states plus the District of Columbia.
The state has legalized sports betting for both retail and mobile betting apps. The law also creates the Ohio sports gaming lottery, which will allow betting throughout the state via terminals at certain liquor permit establishments. That facet of sports betting will be administered by the Ohio Lottery Commission.
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Second License Application Window to Close Aug. 15
On July 15, Ohio began accepting applications for Type C Sports Gaming hosts and second designated Mobile Management Service Providers. That process will continue to the deadline of Aug. 15. The first phase of applications ran from June 15 to July 15, for Type A, B, & C proprietors, first designated MMSPs and MSPs.
Another major milestone in the timeline is Dec. 2, when operators must be ready for equipment verification. That marks the period when state officials will check off all requirements to ensure a smooth rollout on Jan. 1, 2023, identified as the universal start date.
The OCCC has released a list of sports betting operators that have applied thus far, which includes BetMGM, Caesars, BetRivers, DraftKings, FanDuel, PointsBet, Barstool, Instabet, Tipico, and betPARX. As many as 20 sports betting operators have applied. Ohio can issue a maximum of 25 Type A licenses, which are required for online sportsbook apps.
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Ohio Will Receive 10% of Gross Gaming Revenue as Sports Betting Tax
Legislators in Ohio were aggressive in their effort to secure tax revenue for the state from sports betting. Lawmakers decided that sports betting operators will pay 10% of gross gaming revenue. In many other states, sportsbooks are only required to pay on adjusted gross revenue, which allows the companies to subtract expenses for acquiring customers via bonuses and promo offers, and marketing.
The bulk of tax revenue from sports betting will go to fund Ohio schools: 98% for that purpose. The rest is allotted to fund responsible gaming resources.