Ohio celebrates one year of legal sports betting with a staggering influx of wagers and newfound challenges.
The state’s journey into the world of legal sports betting commenced on January 1, 2023, coincidentally timed with Ohio State University’s dramatic loss to the Georgia Bulldogs in the Peach Bowl.
During the inaugural month of legalization, Ohioans wagered over $1 billion, generating a substantial $200 million in tax revenue for the state.
Matthew Schuler, Executive Director of the Ohio Casino Control Commission, attributes this remarkable surge to the novelty, excitement, and promotional offers from sportsbooks.
While the initial fervor has subsided, Ohioans continued to embrace sports betting throughout the year, accumulating a staggering total of $6 billion in wagers.
Notably, approximately 98% of these bets were placed online, primarily by a younger demographic aged 21 to 35, predominantly male, and college-educated.
Football and basketball emerged as the main attractions for sports betting enthusiasts, with the NFL season and March Madness being the highlights.
Ohio’s legal framework allows for up to 25 online operators, each operating two sportsbooks.
The Ohio Lottery Commission has deployed kiosks in select bars, taverns, and grocery stores, and the state permits up to 40 physical retail locations, although their prevalence remains limited.
Fanatics Sportsbook near Nationwide Arena in Columbus has gained popularity, offering a sports betting haven with numerous kiosks, a VIP lounge, in-person betting windows, and a sports-centric atmosphere.
Despite some weekday challenges, it thrives during weekends and major Ohio State or Crew games.
Ohio’s sports betting market has met expectations, especially through the Fanatics mobile app, surpassing similar markets in states like Maryland, West Virginia, and Washington.
However, the surge in sports betting legalization has also raised concerns about problem gambling. With legal betting, there has been a notable increase in calls to the state’s gambling helpline.
The Problem Gambling Network of Ohio reported nearly 1,500 calls in January 2023, three times the previous year’s number.
Even though call numbers decreased throughout the year, they remained higher than in 2022.
To address this issue, the Casino Control Commission is collaborating with online sportsbook operators to enhance app features that promote responsible gambling.
Additionally, the Time Out Ohio app, offered by both the Commission and the Ohio Lottery, allows individuals to voluntarily ban themselves from gambling establishments worldwide.
Integrity remains a priority in Ohio’s sports betting landscape, with measures in place to identify and penalize individuals compromising the integrity of sports gaming.
Two individuals, former Alabama University baseball coach Brad Bohannon and former college pitcher Bert Neff, were served notices for using inside information to place wagers in Cincinnati, emphasizing the state’s commitment to upholding the reputation of sports gaming.