Ohio’s sports betting market will launch on January 1, 2023, as every operator that receives a license must start on the same day.
The first application window for those that want to enter the state opens on July 15, while the second window ends on August 15.
How Will Ohio’s Sports Betting Market Look Like
The market launch in the Buckeye State will be one of the biggest in the industry’s history as Ohio is home to approximately 11.7 million people, which is the 7th most populous state in the nation.
Bettors and lawmakers across the state hoped that the market would be launched by the NFL, but the people will have to wait until the playoffs.
The first round of applications will tell the rest of the industry how the market will look when the launch date comes. On June 15, the Casino Control Commission stated that any entity that wants to get a mobile, retail, or lottery license can start submitting their applications.
Suppliers and management service providers can also apply for both retail and first-designated mobile licenses. The second window that starts on July 15 and ends on August 15 will also give the market the sense of which operators want a shot at entering one of the biggest markets in the history of the industry.
A mobile operator that is offered a second license by a casino or sports team can apply during this time. These licenses will not be guaranteed by any means, as the entity must show that it can make a positive impact in the Buckeye State. Any lottery retailers can also take this slot as an opportunity to apply.
How Does the Commission Keep Track of the Numerous Applications
It has been said that the gaming authorities in Ohio must do a background investigation on 3,000 applicants as they want the operation to run smoothly as the deadlines approach. Like the industry, sportsbook operators in Colorado are under heavy scrutiny, as shown in the audit, as the state may be losing on potential revenue.
As stated weeks ago, the Casino Control Commission will launch a new licensing website that will be available for the public to see who and what companies will be applying to join the market.
The website will also be updated on a regular basis. There could be 50 online casinos and 40 retail sportsbooks in Ohio, but many believe that the number won’t reach that mark.
Ohio Sports Betting Schedule and What to Expect
Unfortunately, operators in the state will miss out on taking bets at the start of the NFL season. The last quarter of the year is when the average betting volume starts picking up again and when several jurisdictions have record-breaking monthly handles.
Betting will not be available until the NFL playoffs and college football bowl games, but they will be able to place wagers on the Cotton Bowl and Rose Bowl.
The Buckeye State can expect an influx of sports betting ads before and after launch. Tax rates are set at just 10 percent, which is among the lowest in the nation.
