Gambling in Ohio: Key Stats on Online Sports Betting in the Buckeye State
- Gambling in Ohio is set to begin with the launch of online sports betting in the Buckeye State
- Ohio online sports betting will be one of the largest industries in the country
- Check out key stats and pre-register to claim limited time Ohio sportsbook promos
Legal gambling is just around the corner in the Buckeye State with Ohio online sports betting going live on Jan. 1, 2023 at 12:01am local time.
As one of the largest states in the country with over 11 million residents, there’s a huge crowd eagerly waiting to place their first wagers. Home to some of the most popular sports teams, the fans in Ohio can’t wait to get closer to the action in their favorite games with premier sportsbook operators.
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Get ready for the start of gambling in the Buckeye State with these key stats on Ohio sports betting, and make sure you claim early registration promos before launch day.
Ohio Online Sports Betting Key Stats
With retail and online sportsbooks gearing up to kickoff as soon as the ball drops on New Year’s Eve, Ohio sports bettors are busy formulating their first bet slips. Wagering won’t arrive in time for the Peach Bowl game between Ohio State and Georgia on Dec. 31, however bettors can look forward to betting on NCAA games shortly thereafter.
The Ohio Casino Control Commission kicks off their meeting by again giving clarity that the universal launch date will begin on Jan. 1, at 12:01 a.m.
— RLinnehanXL (@RLinnehanXl) December 14, 2022
Let’s run through some key stats that could drive Ohio sports betting to become one of the largest industries in the nation:
- Ohio Sports Betting Launch Day: Jan. 1, 2023 at 12:01am ET
- State Population: 11,780,017 (2021 estimate)
- Number of Online Sportsbooks: Up to a total of 50 (25 Type A licenses, two online sportsbook skins each)
- Legal Betting Age: 21+
- Regulatory Details: Legalized when Gov. Mike DeWine signed HB 29 into law on Dec. 22, 2021
The Ohio sports betting market has room for up to a total of 50 online sportsbooks, with operators like DraftKings, FanDuel, Caesars Sportsbook, BetMGM Ohio and Barstool Sportsbook Ohio already receiving approval from the Ohio Casino Control Commission.
As the seventh-most populous state in the country, Ohio’s sheer numbers are guaranteed to drive massive betting handles each month. Factor in the die-hard culture of sports fanatics in the Buckeye State, it’s no wonder there’s so much excitement around this emerging market.
Wagering Expected to Drive Millions in Revenue
Some estimates have Ohio sports betting revenue figures reaching upwards of $50 million per year in taxes going towards the state, which would prove to be a massive boon for the economy and infrastructure in the Buckeye State.
Looking towards other states is the best way of creating revenue projections for legal Ohio sports betting. Illinois and Pennsylvania have legalized sports betting, and with similar population sizes, their first months of legalized sports betting can give us a decent idea of what to expect from Ohio.
|State (Month)||First Month Betting Handle||Sportsbook Revenue|
|Illinois (Sept. 2020)||$305,223,938||$11,754,530|
|Pennsylvania (Sept. 2020)||$462,787,392||$6,269,883|
The legal sports betting industry is growing larger each year, and with these figures dating back to 2020, it’s safe to say the first month of Ohio sports betting will see over $500 million in total wagers. In fact, Ohio’s sports betting handle in the first month may even be closer to the $1 billion mark, especially when you factor in the massive Ohio sportsbook promos that will inevitably draw in even more bettors.
Ohio will have a 10% tax hold rate on gross gaming revenue. Looking to the sportsbook revenue figures in the example above, it’s likely Ohio sportsbooks see approximately $15 million in revenue through the first month. This would come to a total of $1.5 million in state tax revenue through the first month of 2023 alone.
Online Ohio Sportsbooks Launch Jan. 1, 2023
The moment fans have been waiting for is almost here, as Ohio sports betting is gearing up to launch online and at retail sportsbook locations on Jan. 1 at 12:01am local time.
— Ohio State Football (@OhioStateFB) December 4, 2022
Keep it locked in with Sports Betting Dime as we approach the launch of this pivotal moment for one of the largest emerging sports betting markets in the entire country.
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