Retail and Online Sports Betting bill passed in Ohio

In what is becoming the fastest-growing market in the online gambling industry, the US is clearly showing signs that it could be the next major market.

With numerous states having passed bills over the last year to allow online gambling, the latest to do so is Ohio, after Governor Mike DeWine indicated that he will sign the relevant documents imminently.

It means that the state will be able to offer both retail and online sports betting to its residents, with this being governed by the Ohio Casino Control Commission.

 

What are the details of the bill?

With legislation granted, it means that the Commission will be able to offer 25 Type A Sports Gaming Prorprietor Licenses, which means operators can provide online sports betting to state residents, as well as 40 Type B Gaming Proprietor Licenses, which allow for land-based sports betting (retail).

As is the procedure, the state will grant licenses to operators based on a number of factors, which include reputation, financial integrity and track record in the industry. Each state that has granted licenses so far has essentially gone through this ‘due diligence’ process for every operator.

Currently, the state authorities have not disclosed a date for when this will officially launch in Ohio, with a number of elements still to be put in place, however, it is likely that this will be at some point next year.

 

What operators are expected to apply for a license?

Arguably the two biggest players in the US online sports betting market are DraftKings and FanDuel who compete with each other in virtually every state where this has been made legal.

However, over the last 12 months, we have seen a number of European-based brands also gain entry into the US market, via partnerships with US firms, including 888 who have a deal in place with Sports Illustrated to operate in a number of states.

Another one that has been increasing its presence in the US market over the last year, is Australian-based firm PointsBet, which has also made inroads agreeing to deals with sports franchises to have their brand marketed around the various venues.