Ohio Opens Up Sports Betting Application Window
Sports betting still has a long way to go in Ohio, but the good news for operators is that their first application window opens today. This window is open until July 15. Directly after that, a second window will be opened for more applicants, which will then be closed on August 15.
These application windows will give the state a needed preview of what’s to come once betting officially begins on January 1, 2023. If many applicants are approved for their licenses during these windows, the Buckeyes will have plenty of places to enter their bets during the coming year.
Who can apply?
According to the Casino Control Commission, these applicants may begin submitting their applications today:
“This window is for Proprietor, Management Services Provider, first designated Mobile Management Services Provider, and Supplier applicants looking to launch on January 1, 2023”.
Other applicants will be able to submit applications once the window has closed for the operators above.
Keep up with applications
For those who want to keep up with applications, the Ohio Casino Control Commission will be frequently updating its website with info on which operators have applied, when they’ve applied, and which license they applied for. This information will most likely be uploaded on Friday evenings.
Both retail and online operators are able to apply for licenses during both of the application windows. The state has said that they’re giving out 25 online operational licenses. Those who are licensed will be able to enter partnerships with a few mobile management providers to allow bettors to use their services.
Licenses goes to Ohio sports organizations
Online sports betting licenses are guaranteed for the 10 Ohio major sports teams. This means Ohio will be seeing a lot of partnerships with online sportsbooks. PGA and NASCAR will also be given licenses. The rest are up for grabs, but the state has said in the past that they are giving priority to operators who are partnered with state sports organizations, or those with operations already in the state.
Influx of Ads
Buckeyes should be prepared to see a surge of mobile betting ads during the NFL season. Commercial breaks during games will be prime time for operators to let future customers know what services they’re offering.
Ads themselves are becoming more frequent throughout the UNites States, with a 281% increase in advertisement spending for betting operators since last year. Impressions of these advertisements have also had a 48.4% jump over the last twelve months.
Ohio is finally moving forward
The state is now basically guaranteed to lose out on the football season, or most of it at least, but the application windows are a great step forward. Once these applications are approved, the Casino Control Commission will be able to prepare logistically for the start of the betting season, which is expected to do extremely well in Ohio.
The state will take 10% in taxes of all sports betting revenue, and those who enter bets must be 21 years or older. Compared to New York with its 51% tax rate, this seems like nothing. In fact, Ohio will have one of the lowest rates in the sports betting industry.