According to the rules and regulations, the Ohio sports betting market must launch before the January 1st, 2023 deadline. However, the launch date might be closer to the deadline than expected.
When Will the Ohio Sports Betting Market Launch
As of this moment, it is unknown when the Buckeye State will start accepting sports wagers. The Casino Control Commission will determine when the launch date will be during the meeting that will take place on June 1st.
Supporters of the sports betting operation wanted the operators to start taking bets before the NFL season and the World Series. The sports betting industry thrives during the fall as the average betting volume starts to pick up after fading during the summer months.
That might be the case, as the state will most likely miss out on a plethora of revenue going into the last quarter of 2022. The Commission stated;
“Given the intricacies of the rule making process in Ohio and the number of licenses and investigations that the commission must issue or undertake, the Universal Start Date is likely to be close to, if not exactly on, January 1st, 2023.”
Many Lawmakers Thought the Market Would Launch Sooner
Many lawmakers that supported the operation had different start dates in mind. Nevertheless, the consensus was that the state would launch in the fall and not closer to winter.
Sen. Niraj Antani believed that the market would launch just in time for the World Series. On the other hand, Sen. Kirk Schuring thought that everything would be up and running by mid-to-late fall.
All mobile sportsbooks, retail sportsbook locations, and other bars and restaurants that have a liquor license are eligible to start on the same day the business venture begins. The Ohio Casino Control Commission will have a lot of work on its hands during the whole process leading up to the launch.
The Commission will need to conduct at least 3,000 applications to meet the projected launch date without any problems. Those entities applying for licenses could start doing so on June 15th. As this is one of the largest launches in history, there will be a competitive bidding process.
The winners will be announced as the summer months arrive. The projections are strong as the market is predicted to hit $1.1 million in its first year and $3.35 billion in a few years.
What Could Bettors in Ohio Do For Now
Sports betting is legal but not yet operational. Using offshore sportsbooks and illegal sources is highly frowned upon in the United States. The American Gaming Association has asked the Department of Justice to crack down on these sites moving forward.
However, many neighboring states offer mobile sports betting to anyone who enters their state. Indiana, Michigan, Pennsylvania, and West Virginia are all key contributors to the sports betting industry. These states will be getting a lot of visitors from Ohio; especially during the beginning portion of the NFL season and when the World Series begins.
Other jurisdictions where sports betting is legal but not yet operational include Florida, Maine, Nebraska, and Kansas. The Kansas governor recently signed the bill into law. Florida hasn’t accepted a legal wager since the Seminole Tribe’s launch of Hard Rock Sportsbook was considered illegal.