As some states continue to debate about whether sports betting should be legal or not, others are reaping the benefits of legalized gambling. The latest Ohio State sports betting update paints a promising picture in the Buckeye State.
In 2022, the U.S. set a gambling record with more than $61.43 billion in revenue generated. 31 of the 33 commercial gambling jurisdictions in the country reported year-over-year revenue growth1.
Online sports betting had a pivotal role in contributing to these staggering figures. Going into 2023, there was approximately $80 billion wagered from sports betting alone. NFL and March Madness betting raked in the largest bets last year2.
Ohio did not contribute to the sports betting handle in 2022, but that changed for the new year in 2023. Legal as of January 2023, industry insiders expect Ohio sports betting to be a big player within the industry and directly contribute to new records for revenue and wagers in the U.S. this year. After the state’s early success, all signs are pointing to these expectations coming true.
Ohio Sports Betting Timeline and Locations
On December 22, 2021, Ohio Governor, Mike DeWine, signed House Bill 29 into law. The bill legalized sports betting and set guidelines throughout the state3.
This followed overwhelming support in the Senate and House. The Senate voted in favor, 31-1, while the H.B. 29 cleared easily in the House, too, 72-124.
On January 1, 2023, sports bettors in Ohio were finally able to place their first legal sports bets. The Ohio sports betting bill legalized betting on sports at brick-and-mortar locations and via the internet and mobile devices5.
Ohio recognizes legalized sports betting through licensed retail and mobile sports gaming proprietors. The regulatory oversight of the sports betting industry is the responsibility of the Ohio Casino Control Commission6.
Ohio Sports Betting Locations
Lawmakers in Ohio wanted to make gambling as accessible as possible to the public. Currently, there are still states that can’t agree on where sports betting should be made available. However, that was not an issue in the Ohio Legislature.
When it comes to Ohio, the state essentially said let’s put sports betting in as many places as possible. That includes online sports betting via private operators, such as DraftKings, FanDuel, BetMGM, Caesars, BetRivers, etc.
The sports betting legislation in Ohio outlined three different licenses: sports betting via mobile apps and online; sportsbooks at land-based casinos, race tracks, and sports teams; and bars, restaurants, and Ohio sports betting kiosks7.
More than 40 mobile and retail sports betting licenses have been granted in the state so far8. Expect this number to continue to grow in the future.
According to 500 Nations, there are 11 casinos and racinos throughout the state of Ohio. This includes four stand-alone casinos and four race tracks that offer casino gaming9.
The legalization of sports betting was a big win for casinos in Ohio. Operators have been advocating for legal sports betting since the Supreme Court gave states the go-ahead in 2018.
Sports betting @UbetOhio now live!!! Stop by and play on the March Madness games with us!
-must be 21+ to play
-call 800-589-9966 if you have a gambling problem pic.twitter.com/HGKB6UsV7y— Action Palace Ohio (@ActionPalace) March 15, 2023
Ohio Sports Betting Kiosks
If online sports betting or going to a casino doesn’t work for you, Ohio wants you to be able to bet on sports at your local supermarket and bars.
As part of the sports betting legislation in Ohio, sports betting kiosks are legal at select bars, restaurants, grocery stores, and even bowling alleys.
In January, gamblers placed $850,000 in wagers throughout 772 Ohio sports betting kiosk locations10. The number is only going to continue to grow over the next year.
One of the most popular supermarket chains in Ohio, Kroger, is working on launching its own sports betting kiosks. Kroger has been approved to offer sports betting at 42 locations in Ohio, but is not accepting bets at the moment11.
The grocer has not announced an official date for when the Ohio sports betting kiosks will be live. This should be coming soon.
When Kroger launches their sports betting platform in stores, expect a substantial increase in sports betting revenue from kiosks.
Billions Wagered In The First Month
According to the most recent Ohio sports betting update from the state, legalizing sports wagering has been a major boon.
In the first month of legalized sports betting, Ohio residents recorded $1.1 billion worth of bets. This accounts for the total amount of bets placed, including promotional wagers in Ohio from January12.
What does this mean for the state’s bottom line?
There was $208.9 million in taxable revenue generated from sports betting, with approximately $21 million going to Ohio. Out of the $208.9 million, online sports betting accounted for $205 million13.
There was so much interest in sports betting that it eclipsed geolocation data from New York. The state of New York was regarded as the leader in geolocation checks before Ohio beat them in January.
Ohio notched 8.62 million geolocation transactions, while New York had 6.22 million geolocation hits in January14. The geolocation data did not equate to more bets placed, though.
Ohio’s $208.9 million in revenue was second only behind New York’s $1.8 billion in bets15. In 2022, New York had a population of 19.68 million16. Conversely, around 11.76 million people lived in Ohio last year17.
With this in mind, the number of dollars wagered in Ohio per capita was a spectacular accomplishment.
Future of Sports Betting In Ohio
Sports betting launching in Ohio happened at the right time. This past January, the NFL postseason was underway, and the Cincinnati Bengals were playing. Combined with pent-up demand for sports betting and online casinos in Ohio, there was a perfect recipe for success out of the gate.
With sports betting kiosks at bars, restaurants, sporting events, and supermarkets still in its infancy, there is reason to feel optimistic about the future of sports betting in Ohio.
The state has been liberal in awarding sports betting licenses to operators. Any place a sports betting kiosk can go, Ohio seems to be on board. They want the Ohio sports betting locations to be as convenient as possible for sports bettors.
Online Sports Betting In The Buckeye State
There are many options for online sports betting in Ohio, but our favorite choice is BetOnline. At this online sportsbook, you can receive a 50% welcome bonus for first time users. Furthermore, there are incredible offers including bonuses for reloads and crypto deposits.
Taking advantage of these bonuses will make using BetOnline even more exciting. This online betting site covers every major sports along with eSports, a racebook and more. Players can take their sports betting to another level with BetOnline’s top-notch Live Betting feature. With a smooth interface, competitive lines, and an easy to navigate sportsbook, BetOnline is a premiere destination for sports betting in the Buckeye State.
Sources
AGA Commercial Gaming Revenue Tracker | American Gaming Association. Retrieved From “https://www.americangaming.org/resources/aga-commercial-gaming-revenue-tracker/”
U.S. Online Sports Betting Breaks Record in 2022 | Variety. Retrieved From “https://variety.com/2022/sports/tech/u-s-online-sports-betting-breaks-record-in-2022-80-billion-nfl-march-madness-1235467345/”
Ohio Becomes 33rd State To Legalize Sports Betting | Sports Illustrated. Retrieved From “https://www.si.com/college/ohiostate/football/ohio-state-football-legalizes-sports-betting-mike-dewine-house-bill-29-law-gambling-buckeyes”
Ohio sports betting: How the Buckeye State finally got in the game | The Philadelphia Inquirer. Retrieved From “https://www.inquirer.com/sports/betting/ohio-sports-betting-history-timeline-20221207.html”
Bill: G.B. 29 Status: As Enacted | Ohio Legislative Service Commission. Retrieved From “https://www.legislature.ohio.gov/download?key=18254&format=pdf”
Bill: G.B. 29 Status: As Enacted | Ohio Legislative Service Commission. Retrieved From “https://www.legislature.ohio.gov/download?key=18254&format=pdf”
When does legalized sports betting start in Ohio? | WKYC Studios. Retrieved From “https://www.wkyc.com/article/news/local/ohio/sports-betting-to-begin-in-ohio-with-new-year/95-7f9cb32e-eae9-43a7-901c-a62231b24da2”
Ohio sports betting: How the Buckeye State finally got in the game | The Philadelphia Inquirer. Retrieved From “https://www.inquirer.com/sports/betting/ohio-sports-betting-history-timeline-20221207.html”
Ohio Casinos | Updates 2023. Retrieved From “https://www.500nations.com/Ohio_Casinos.asp”
$850,000 in sports bets placed in January at Ohio bars, bowling alleys, grocery store kiosks | Cleveland.com. Retrieved From “https://www.cleveland.com/news/2023/02/850000-in-sports-bets-placed-in-january-at-ohio-bars-bowling-alleys-grocery-store-kiosks.html”
Kroger sports betting kiosks to open well after Jan. 1 | Cincinnati Business Courier. Retrieved From “https://www.bizjournals.com/cincinnati/news/2022/11/28/kroger-sports-betting-kiosks-opening.html”
What does $1.1 billion mean? Ohio’s big sports betting number explained | Cleveland.com. Retrieved From “https://www.cleveland.com/news/2023/03/what-does-11-billion-mean-ohios-big-sports-betting-number-explained.html”
$1.1B wagered in Ohio’s first month of legal sports gambling. Retrieved From “https://www.cbsnews.com/pittsburgh/news/ohio-first-month-legal-sports-gambling/”
Geolocation data shows bigger interest in sports betting in January than New York state | Scripps Local Media. Retrieved From “https://www.news5cleveland.com/news/local-news/ohio-shows-bigger-interest-in-sports-betting-in-january-than-new-york-state”
15 Ohio reports $1 billion in sports betting wagers in January 2023 | WYKC Studios. Retrieved From “https://www.wkyc.com/article/news/local/ohio/ohio-1-billion-in-wagers-2089-million-revenue-first-month-legalized-sports-betting/95-b6db5a13-e193-49f4-9444-dd84d9bc2c11”
New York – resident population 2022 | statista. Retrieved From “https://www.statista.com/statistics/206267/resident-population-in-new-york/”
Ohio – resident population 2022 | statista. Retrieved From “https://www.statista.com/statistics/206280/resident-population-in-ohio/”
