By
Lisa Spencer
Senior Editor Updated: 01 June 2024
Lisa Spencer Senior Editor
As a Senior Editor at Betting.US, Lisa Spencer is a valuable member of our expert team. With a Master’s degree in Applied Mathematics, Lisa is adept in gambling theory and analyzing odds. She contributes by writing online sportsbook reviews and finding competitive markets to help our readers make an informed choice.
It has recently been reported that the Ohio Casino Control Commission has announced a relaxation of rules governing the issuing of sports betting licenses. The move comes as the state aims to improve operations for sportsbook operators looking to establish their presence in the state.
Previously, the OCCC stated that sportsbook licensees must start accepting bets within 12 months of receiving their licenses, as part of a strict ‘use it or lose it’ policy. However, the commission has now revised this regulation, granting operators additional time to begin their betting operations.
Under the amended rules, sportsbook licenses in Ohio will no longer be subject to a strict launch deadline. Instead, OCCC Executive Director Matthew Schuler has been given the right to revoke a license if it remains inactive during its five-year validity period.
This spells good news for betting operators, as they will no longer be under as much pressure to launch and start accepting bets as quickly as possible. The regulatory adjustment eliminates the need for the commission to automatically revoke licenses that are not put into use within the stipulated timeframe.
OCCC Communications Director Jessica Franks said:
It’s no longer a have-to-take-action requirement. We are aware of some of the difficulties that different entities are encountering.
The decision by the OCCC follows the implementation of legal sports betting in Ohio on January 1, 2023. The state’s sports gambling law allows both in-person and online betting activities at various retail locations, including casinos and racinos.
Since the legalization of sports betting, a number of operators have experienced issues when it comes to launching their online and retail sportsbooks. These include big names such as the NBA’s Cleveland Cavaliers, Jack Thistledown Racino, and the NFL Hall of Fame Village in Canton.
Matthew Schuler highlighted the ongoing availability of sports betting licenses in Ohio during a recent commission meeting, revealing that a large number of licenses remained unused. He stated that three Type A retail sportsbook licenses and 17 Type B mobile sportsbook concessions are yet to be activated.
The Cleveland Cavaliers, holders of both types of licenses, have only used their retail license in partnership with Caesars Sportsbook. Plans for an online platform with Fubo Sportsbook were canceled after Fubo ceased operations in late 2022.
Jack Thistledown Racino also faced issues in launching its online sportsbook with WynnBet after Wynn Resorts terminated its online sports betting operations last summer.
Despite these issues, Ohio’s sports betting market has shown impressive growth, with operators reporting over $7.65 billion in wagers during the state’s first year of regulated sports betting. The industry generated an impressive revenue of $937 million, with a hold rate of around 12 percent.
The relaxation of sports betting license rules by the OCCC is poised to provide a much-needed boost to operators grappling with operational hurdles, offering them greater flexibility and a more conducive regulatory environment to establish their foothold in Ohio’s thriving sports betting landscape.
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