Ohio Sports Betting Market Launching on January 1, 2023

Ohio Sports Betting Market Launching on January 1, 2023

The Ohio Casino Control Commission has reached an agreement on a timeframe and the procedures that must be completed before the Ohio sports betting market launch. 

A number of modifications, such as an application procedure for stakeholders who seek to conduct betting in the state, will take place before the sports betting sector launches on January 1, 2023. This will be preceded by a number of other changes.

Ohio Governor Mike DeWine Hints Towards Sports Betting Legalization

Ohio Sports Betting Going Live Soon  

The expansion of gambling in this state is the most significant in its whole history, and state politicians are eager to ensure that the process goes well. The state of Ohio is still in the process of gathering applications for the nine different sorts of licenses that it will provide as a result of its recently passed legislation.

There has been no public announcement of either the applicants or the winners. The state of Ohio aims to ensure that everyone has an equal opportunity to submit an application for a license and participate in the competition in a fair manner.

Because of this, there are three application windows that stakeholders may take advantage of. On June 15 the first application window will open, followed by another one on July 15. On November 2, another one will become available for purchase.

In the meanwhile, Ohio is home to 550 restaurants and bars that, according to the state’s “Sports Gaming Interest Forms,” are eligible to submit applications for licenses.

There are high expectations placed on the success of sports betting in the state of Ohio, with an annual turnover of one billion dollars projected for the business. On the other hand, the estimates are much more positive since it is conceivable for the state to reach $3.5 billion over the course of time.

The Ohio Control Gaming Commission has said that it anticipates receiving at least 3,000 applications by the time the rollout occurs. The commission plans to give licenses to those applicants who satisfy a number of requirements. Matt Schuler, the executive director of the commission, provided clarification on the matter and stated that prospective licensees will be finishing build-outs or buildings, distributing kiosks, hiring and training employees, obtaining partners, and making all of the other necessary arrangements leading up to the universal start date in order to begin offering sports gaming from the very same starting line.

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Licenses Applications Piling Up

Schuler stated that online betting providers may be ready to open even sooner, but the commission has decided to proceed with a unified debut date in order to make it simpler to monitor when the date will really be reached. Because of the statute that was passed, licensed operators will be required to pay a 10 percent tax on the revenue they make from gaming, and the money that is collected will go toward financing education. There are a total of 25 available Class A licenses for mobile betting, with another 40 available Class B licenses for operators of physical locations. An ambitious expansion is planned for the state, which has a population of 11 million people and will include the issuance of Class C licenses to thousands of stakeholders.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.