According to an Ohio Casino Control Commission presentation, the rule drafting process alone could take months while the operator license application process will only start in summer or fall of 2022. This means that the industry is unlikely to launch before early 2023.
The Ohio Legislative Service Commission expects the OH betting market is expected to be worth an estimated $3.35 billion within the first few years of operation
The same analysis estimates that the proposed 10% tax on net revenue from sports betting will generate state taxes of around $7 million in the first six months of operation and $24 million in the first full financial year. Of this, 98% will be set aside for public and private education with the remaining 2% going toward gambling addiction services and support.
Ohio Governor Signs Sports Betting Bill Into Law Ohio Governor Signs Sports Betting Bill Into Law, allows Ohio casinos, racinos, sports teams, and other businesses to apply for licenses. As a result, the commission expects to receive a minimum of 23 applications from existing US sportsbetting businesses/organizations with an interest in sports or gambling.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.