The state of Ohio will be launching its sports betting market in a few weeks as it will take place on New Year’s Day. Bettors across the Buckeye State will be able to take part in one of the busiest slates of games to start the year.
Why Do Sportsbook Operators Want to Launch on Schedule?
Ohio will be one of the states that are on board with a universal launch, which indicates mobile and retail entities will launch at relatively the same time. There will be four Bowl Games, and the Cincinnati Bengals will be playing the Buffalo Bills on Monday Night Football.
Bookmakers will want to launch just before kickoff as bettors will flood in wagers for these events as they have been waiting for a long time. Betfred is the latest to join the group of operators that are ready to launch. Others include Hard Rock and JACK Entertainment.
Brick-and-mortar locations have announced that they have plans to host special events to celebrate this milestone. In advance of New Year’s Day, 22 digital operators and 21 brick-and-mortar sportsbooks have been approved by the Ohio Casino Control Commission.
Fanatics and Underdog Sportsbook have not indicated if they will launch on New Year’s Day. Fanatics will most likely wait as they didn’t launch its platform when Maryland’s online sports betting market began not too long ago.
Fubo Sportsbook and MaximBet have lost their opportunity to gain market access in the state due to business decisions. Cleveland Cavaliers partnered with Fubo for a digital platform, while MaximBet received JACK Cleveland Casino’s second digital skin. Neither organization has found a new partner as of late.
How Many Entities Will Go Live to Jumpstart the Market?
Barstool Sportsbook, BetMGM, BetRivers, Caesars Sportsbook, DraftKings, FanDuel, PointsBet, and WynnBET are the few platforms that will launch on January 1st, 2023. However, experts aren’t exactly sure how many platforms will go live on that day.
Currently, the consensus is that up to 18 mobile platforms will go live, which shows that the state has a low barrier to entry compared to many other states in the industry. There is a possibility that more sportsbooks will be awarded during the meeting on December 14th.
Individuals will also be able to place wagers at professional venues across the state, as many have been approved. Bettors will be able to place bets on multiple events throughout the year, and it will be interesting how the market plays out in 2023.
Ohio Will Be One of the Biggest Markets in the Industry
Like many other jurisdictions, there will be restrictions as bettors will not be able to partake in the Heisman Trophy wagering, as Ohio State’s C.J. Stroud will be on the list. Ohio is also in line for a College Football Playoff Berth as the USC Trojans lost to Utah Utes this weekend.
Ohio State could get a chance for redemption against Michigan, as it will depend on where the program will be placed next week. Michigan will be a lock for the second-best team in the nation.