Ohio sports betting market will launch on January 1st, 2023, as all the operators that receive an approved license must start on the same day, as noted by HB 29. This means that mobile, retail, kiosks, and lottery retailers must all launch during the first day of the new year.
What are the Two Sportsbook Operators that Applied for a License First?
Most lawmakers in the Buckeye State wanted the market to launch by the start of the NFL season but were unsuccessful in pushing for that initiative.
The NFL is the most wagered sport in the industry as monthly handles across many jurisdictions hit record highs, especially in the October and November months.
The Casino Control Commission will launch a new website showing what companies applied for a license to enter the market. As of June 15th, applicants for mobile, retail, or lottery licenses can submit their applications to the Casino Control Commission.
BetMGM and PointsBet are the first ones to apply for a mobile management service provider license in order to operate an online platform. The two applicants are the first to lead the way as the gaming authorities will have to go through 3,000 applications before the set launch date.
BetMGM applied for a mobile and retail license on June 15th, and PointsBet followed the very next day. As of right now, neither company has listed its potential partner to enter the market, but the public has a general idea of who it may be.
MGM Northfield Park is a potential launch venue for BetMGM, while Penn National is a potential launch venue for PointsBet as the partnership dates back to 2019.
When Does the First Application Window Close?
An influx of applications should start coming in as the first window closes on July 15th for any entity that wants to conduct business in the Buckeye State by the set launch date. The second application window will begin on July 15th and end on August 15th.
This second window is dedicated to lottery retailers that want sports betting kiosks and for mobile operators that want a second skin so that they can also launch by the New Year. Applications that are deemed incomplete or are submitted after the windows close will not be guaranteed to launch by January 1st.
Sports betting is technically legal across the state as customers are permitted to sign up on as many mobile platforms as they would like but can’t place a wager until the launch happens. Hard Rock is another operator that is looking to launch by the start date. More sportsbooks should also be offering promotions to get new users to join their platforms.
Ohio Sports Betting Market Summary
Ohio will most likely be home to one of the biggest launches in the industry’s history, as numerous neighboring states have pulled in big numbers from the operation. The Buckeye State is home to approximately 11.7 million people and is the 7th most populous state in the nation.
There will be more updates as the first application window will close in a few weeks. More sportsbooks and other entities should receive licenses in the next coming weeks.