October 6, 2022

Sports betting in Ohio to start in 2023

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CINCINNATI (WXIX) – Starting Jan. 1, 2023, sports betting will officially be active in the state of Ohio, the state Casino Control Commission announced Wednesday.

The first Bengals game fans in Ohio can bet is the Monday Night Football matchup against the Buffalo Bills on January 2, 2023.

There are three ways a bet can be placed in Ohio: mobile app (e.g. DraftKings, Fanduels), physically going to a casino sportsbook, or at restaurants with kiosks.

A restaurant, bar, or bowling alley can apply to get two kiosks and licenses will cost $1,000. Brick and mortar facilities, like a casino with a sportsbook, will have to pay $50,000 to $100,000 for a license.

Companies operating a mobile app will have to pay $3 million for a license for an initial three-year term.

The second contract will cost $10 million.

Sportsbooks and mobile apps will be regulated by the Ohio Gaming Commission.

A 10% tax will be assessed on the sports gaming industry with proceeds going mostly toward schools.

The Legislative Budget Office (LBO) estimates that license revenue alone during Fiscal Year 2023 is likely to reach or exceed $10 million.

The LBO estimates the sports gaming market to produce about $3.35 billion for Ohio after several years of operation.

On Dec. 22, 2021, Gov. Mike DeWine signed House Bill 29 to legalize and regulate sports gaming in Ohio.

The bill also creates the Ohio sports gaming lottery, operated by the Ohio Lottery Commission through terminals at certain liquor permit establishments.

Copyright 2022 WSAZ. All rights reserved.



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