Legislators passed a sports betting bill in the Buckeye State, and everyone anticipates a full rollout this year. If everything goes according to plan, both traditional land-based and online sports betting will be available.
The state regulator, Ohio’s Casino Control Commission, started accepting sports betting applications on January 1, 2022. The first licenses may be issued as early as April 1, 2022.
Under the bill, esports betting was legalized as well. A requirement on league data was put in place. Physical venues can operate in any county with a population below 100,000.
Mirroring Tendencies in the Neighboring States
States like Pennsylvania, Indiana, and Michigan all allow sports betting and have seen tremendous success. This is probably the reason why Ohio jumped the bandwagon. Another reason is the potential loss of gambling revenue to offshore sports betting sites.
Ohio Governor Mike DeWine signed sports betting into law, and residents of the Buckeye State are expecting a full launch this year. The Casino Control Commission will be regulating the sector. Sports wagers will become possible on January 1 next year at the latest.
Major Industry Players
Major platforms in the industry are already trying to secure a piece of the pie. When choosing a sportsbook, it’s essential to check legality and security. Satisfied users will testify to the fact that BetMGM Ohio is safe. It’s one of the most trusted bookmakers in the country. Before BetMGM starts accepting wagers, the state will license it and put some regulations in place.
Once it becomes fact, Ohio sports betting should be pretty profitable. Analysts forecast the industry could generate as much as $90 million in taxes and bring in a total of $1 billion in revenue. Ohio legislators have set the tax rate at a moderate 10%.
Compared to other states, Ohio will have laxer laws, making it easier for providers to grow and expand their business. Major industry players like DraftKings, FanDuel, PointsBet, and others can be expected to enter Ohio in the immediate future.
Not all stakeholders were happy about vesting regulation authority in the Ohio Casino Control Commission. Some wanted the state lottery to be in charge of sports bets. Ultimately, the scales tipped in favor of the former, which should benefit the treasury. States where the lottery doesn’t oversee sports wagering, achieve higher revenue.
How to Bet on Sports
Online sports wagers, mobile sports betting, and in-person wagers will soon be possible. Both the House and the Senate want sports gambling to happen and are working together to this end. The process of betting starts with choosing the best platform for your needs. Apart from security, it would be best to look for a few key factors. We discuss these in the final section.
What to Look for in a Sportsbook
When selecting a platform, things to look for include the sports offered, promotions, types of bets, and the odds available. This information should be accessible on the sportsbooks’ websites. If you’re new to sports betting, it’s a good idea to take advantage of welcome bonuses and risk-free bets.