The Ohio sports betting market is set to launch on January 1st, 2023. As the first window came to a close, bars and restaurants with liquor licenses can start submitting applications for a kiosk in their establishment starting on Friday.
What are the Rules Under the Ohio Sports Betting Law?
Under Ohio state law, 20 Type C licenses are available for retailers. This is also a competitive field as liquor permit holders will have until August 15th to submit these applications to have a kiosk by the time the operation begins.
This will be a very difficult decision for the officials examining over 2,000 applications. Retail sports betting locations and mobile bookmakers must launch at the same time. Retailers with Type C approval can offer sports betting on their existing lottery terminals or kiosks.
Every licensed location will have at least two self-service or clerk-operated kiosks by January 2023. Kiosks are easy to access but offer fewer betting options than a mobile sportsbook platform or retail casino location.
The types of wagers that will be on kiosks include moneyline, over/under, parlays, and point spreads. Under the law, kiosks in the Buckeye State must have low wagering limits.
According to HB 29, Type C vendors must set their wagering limit to $700, and bettors have numerous ways they can fund their bets. Currently, there is some confusion regarding how many kiosks each licensed business can operate.
What Will the Ohio Sports Betting Market Look Like?
Gov. Mike DeWine signed the legislative bill into law late last year. Sports gambling is legal in the Buckeye State, but it won’t be operational until January 1st, 2023. There could eventually be 50 mobile apps operating in Ohio after January 1st, but gaming regulators doubt many will be licensed.
Applications that are submitted after July 15th will still be considered for a license. If the entity is approved, the platform cannot take bets on January 1st and will have to wait.
A couple of sports franchises in Buckeye State have applied for licenses. The Cleveland Browns and the Columbus Crew have similar partnerships with sportsbooks. The Cincinnati Bengals is the latest franchise to extend a partnership with a sportsbook.
Betfred Becomes the Official Sports Betting Partner of the Cincinnati Bengals
The Cincinnati Bengals were the runner-ups in the Super Bowl as they fell short against the Los Angeles Rams. However, the team expanded a partnership with Betfred as the bookmaker became the official sports betting partner of the team.
UK-based BetFred Group has a subsidiary in the US called Betfred USA. The UK-based company operates 1,400 betting shops, and the company has been operating for 50 years.
The platform also has market access in six states across the United States, as these jurisdictions include Arizona, Iowa, Pennsylvania, Louisiana, Washington, and Colorado. The sportsbook is also pending regulation in Maryland and Nevada. Bettors across the state will have the first opportunity to place wagers on the time on January 2nd when the team takes on the Buffalo Bills.