- The Cincinnati Bengals are headed to the Super Bowl for the first time this century after completing an 18-point comeback against the Kansas City Chiefs in the AFC Championship.
- Despite legalizing sports betting with the signing of HB 29, Ohio does not yet have operational sportsbooks; as a result, the state stands to lose millions in unrealized sports betting revenue.
COLUMBUS, Ohio – On December 22, 2021, Governor Mark DeWine signed HB 29 into law, making Ohio the 31st state in the United States to legalize and regulate sports betting. This was a much-needed move for the citizens of Ohio, who had been patiently waiting for lawmakers to finally legalize sports betting.
However, on Sunday, slow action on HB 29 didn’t help the state, as they watched the Cincinnati Bengals complete a miraculous 18-point comeback in the AFC Championship Game against the favored Kansas City Chiefs.
Ohio Set To Miss Out On Bengals Super Bowl Betting Revenue
The long road towards the implementation of HB 29 is more than likely going to hurt Ohio’s bottom line, with the Cincinnati Bengals set to represent the AFC in this year’s Super Bowl – the single most-bet event in American sports.
There are not yet any functioning sportsbooks in Ohio and as a result, the state will see millions of dollars in sports betting handle go into the pockets of internationally-based online sportsbooks on Super Bowl Sunday.
More than three times the number of wagers were placed on the Super Bowl than in 2020. Of the 17 states with available 2021 Super Bowl betting data, only two jurisdictions – Montana and Washington, D.C. – saw a Super Bowl betting handle of less than $1 million.
Ohio has approximately 11.8 million residents – the closest comparison (of states with an active sports betting market in 2021) in terms of population size is Illinois, which is home to about 12.8 million residents.
In 2021, Illinois brought in $45.6 million in sports betting handle during the Super Bowl. This was good for about $7.7 million in revenue and $1.14 million in sports betting tax revenue.
However, the revenue figures were made possible by an incredible 16.8% hold rate.
While Ohio has a slightly smaller population size than Illinois, if the former had online sportsbooks in place in time for the Super Bowl, they likely could easily surpass Illinois’ figures from 2021, considering the Bengals are a hometown favorite. There were not any Illinois-based teams in the Super Bowl in 2021, so Ohio’s potential handle and revenue for this year’s Super Bowl could have been historic.
Where Can I Bet On The Bengals In Ohio?
Sports bettors of Ohio may see this situation and get the impression that they will not be able to bet on the Bengals in this year’s Super Bowl; however, this could not be farther from the truth.
While Ohio does not yet have sportsbooks in place, that does not mean sports betting cannot be performed; it merely means it cannot be performed on state-regulated sportsbooks. Bet on this year’s Super Bowl by using an internationally-based online sportsbook. These legal sports betting sites operate outside the jurisdiction of the United States legal system and are well-established for their safety and quality.
News tags: AFC | AFC Championship Game | Cincinnati Bengals | COVID-19 | HB 29 | Illinois | Kansas City Chiefs | Mark DeWine | Montana | NFL | Ohio | Ohio Casino Control Commission | Super Bowl | Washington DC
Jerad has been a welcomed addition to the LegalSportsBetting.com writing team. Covering topics regarding the expansion of sports betting in the US, Jerad focuses on legislative efforts, bill signings and other methods for sports betting legalization. Finishing his education as a college baseball player, Jerad has first-hand knowledge of competitive sports, paired with years of personal sports betting as well. As a political science major at the University of Central Florida, Jerad covers the political, legal, and legislative aspects of sports gambling without any issues.