Legal Sports Betting Expected Everywhere in Ohio

• Legal sports betting is expected to launch on the first of January in 2023 and the state has offered three types of licenses for sports betting vendors.
• There have been over 800 “Type C” applications for betting, which is for retail locations with a liquor and lottery license and each application fee is $15,000.

CINCINNATI, Ohio – With a launch date of January 1, 2023, more and more Ohio businesses are applying for a “Type C” sports betting license. This license would allow legal sports betting in the form of a kiosk for any business that has a liquor license and a state lottery partnership.

As only a few months remain until the launch, there have been over 800 small businesses applying for the license, including a majority of the Kroger locations throughout Cincinnati.

While sports betting has been expanding across the US since 2018, Ohio is taking the market one step further by allowing residents to place wagers while grocery shopping, sitting at a bar, or browsing through a liquor store.

The accessibility of having legal betting on a mobile device and in a supermarket could help further normalize the activity and help push other states to follow.

Big Money for Legal Sports Betting in Ohio

Even though legal sports betting has not yet launched in Ohio, the state has already made millions on the steps of getting the market prepared for 2023. Each sports betting license requires an initial fee and an application fee.

The most expensive application is “Type A” which is for mobile betting for sports teams, racetracks, and casinos, and “Type B” which is for retail locations like racetracks and casinos as well.

• Type A – $1.65 million initial fee / $150,000 application fee
• Type B – $160,000 initial fee / $20,000 application fee
• Type C – $115,000 initial fee / $15,000 application fee

There is a 10% tax for sports betting in Ohio and 98% of that money is heading towards a new fund that is called the Sports Gaming Profits Education Fund. This will benefit primary and secondary education, sporting events, and out of school activities for Ohio residents.

Looking at the application fees from “Type C” applications alone, this new education fund would have received $11,760,000 before sports betting even takes off in Ohio through betting kiosks.

News tags: Cincinnati | Kroger | Ohio | Sports Gaming Profits Education Fund