Ohio Sports Betting Moving Forward
The latest set of rules for Ohio sports betting online have been approved, and the state is still on track to launch at some point in 2022. Ohio legalized sports betting back in December 2021, and that came with a law that the industry had to be up and running by January 1, 2023.
Sports bettors in Ohio and lawmakers would like to see this date pushed up, but at least it appears that things are on track at this point. The Ohio Casino Control Commission is tasked with regulating this new industry, and it will still have to approve three more sets of rules before a launch date can be established.
The latest round of rules focused on the laws with retail and online sports betting licenses. In those rules, a firm price has been established for anyone wanting to apply.
The Ohio Casino Control Commission also has to determine what types of sports can be wagered on, and those rules were included in the latest round. Ohio could eventually become a large sports betting market, but there is plenty to worry about before a launch date occurs.
Plenty of Licenses Available
Lawmakers in Ohio wanted to give plenty of operators a chance to enter into the new Ohio sports betting industry, and that will certainly be the case. There will be three different types of licenses available to potential operators, with a Class A license being the most desirable.
A Class A license is an online license, and there are going to be 25 of those available in the state. Anyone granted a Class A license can then partner with two online sportsbooks for 50 potential mobile apps in the state.
A Class B license will go to those establishments that can set up brick-and-mortar retail sportsbooks. Anyone who receives a Class A license must also have a Class B license or be partnered with such an establishment.
Class C licenses will be available for smaller businesses throughout the state, and anyone with a liquor license will be eligible to apply. Those that hold a Class C license will not be allowed to offer any form of online gambling.
Who Can Get a License?
Not only will the casinos in Ohio be favored to receive a Class A license, but the professional sports teams in the state are also included in this group. There are currently eight professional sports teams in Ohio, but the NASCAR and PGA Tour events will also be allowed to apply for this type of license.
These license applications are not yet available, but there is hope that they will be at some point this Summer. Receiving a Class A sports betting license in Ohio will not come cheap as teams and casinos are expected to pay between $1-$5 million.