The Buckeye State’s gambling regulator has officially opened the 30-day license application window for retail and mobile sportsbooks. The state’s regulated retail and online sports betting market is expected to go live in January 2023.
The Casino Control Commission of Ohio is now accepting license applications from operators who wish to provide sports betting services to its residents. This phase of the sportsbook industry preparation process is a significant milestone ahead of the official market debut on January 1st, 2023.
Sports betting in the Buckeye State was formally signed into law back in December 2021. Still, the Commission thought that instead of hitting the ground running, 2022 would be the year it gets to vet and make better sense of the market before making things official.
So, now that the 30-day application window is open, it is estimated that about 3,000 applications will flock to the Commission’s office, seeking to have a piece of the pie. As a result, the 2023 launch has been dubbed the ‘largest ever simultaneous launch of sports gaming in the United States, and the most extensive gaming expansion in the state’s history.
Operators Can Apply for Any of Three Licenses
There are three kinds of licenses that operators can apply for in the period that began on June 15th and runs through to July 15th. These will be categorized into Type A, B, and C licenses.
The Commission has already reported that as of June 17th, two industry-leading operators had already submitted applications. If approved, it will allow them to launch online betting apps before the launch date on New Year’s Day. In addition, the two have applied for ‘mobile management service provider’ licenses, requiring them to partner with casinos, racinos, and other partners with proprietor licenses.
It is yet to be determined who the operators will choose as partners, but there are a few speculations about PointsBet, which already has a partnership with Penn National Gaming. According to a company spokesman, the partnership gives it an edge as Penn owns several properties in the state, making it eligible for a Type A license.
Ohio is Slated to be Among The Most Competitive US Markets
Ohio is the fourth largest state in the US, and after the big sports betting launch, it is expected to become one of the biggest markets. Experts are confident about the Buckeye State’s potential, especially given its permissiveness towards having several legal sports betting entities operating across it.
For example, there will be five times as many mobile betting apps as in New York, which has been leading in sports betting handle since officially rolling out sports betting in January 2022. This is despite the fact that the Empire State has a 51% tax on all revenue. Ohio operators will only be paying a 10% tax, and any revenue tied to promotions will have the tax waived. All this points to a more conducive environment for operators, who are expected to flock to the state for a taste of the favorable market conditions that Ohio is promising.
Head of government affairs at Sportradar, Brandt Iden, is one of the many lawmakers who have come out to express optimism for the upcoming sports betting market. He said:
Quote“It will be one of the most competitive markets in the country, if not the most competitive.”
State advocacy director at iDEA Growth John Pappas reiterated what other proponents had said in a statement that read in part:
Quote“It’s the place you’ll want to be if you’re betting on sports. You’re going to have a lot of opportunity for competition…Given the size of the market, you’re going to see some companies launching for the first time ever.”
Homestretch for Ohio After a Bumpy Journey
The journey to legalizing sports betting in Ohio has not been easy as it was full of setbacks. And so, waiting one year to go live after legalization doesn’t seem slow anymore. The delay in launching is meant to allow time for stakeholders to test different approaches to attracting potential players.
Currently, some sportsbooks are already launching beta versions of their online sportsbooks ahead of the application deadline and the New Year launch. So, although they may not be able to bet in-state on sports events in late 2022, as speculated earlier, they can look forward to wagering on several major sporting events starting in January 2023.
They include the Rose Bowl on January 2nd, the College Football Playoff National Championship game on January 9th, the rest of the NFL Postseason, and the Super Bowl on February 12th. The Commission will be updating the list of applicants every Friday until the deadline.
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