Sports Betting Deadlines Nearing in Ohio

The residents of Ohio are looking forward to the launch of legalized retail/mobile sports betting, a lunch that is set to take place on January 1, 2023. As the state’s sports betting enthusiasts build in anticipation, the deadlines that are being imposed on prospective sports betting operators are growing near.

The first meaningful deadline is on October 5, 2022. That is the deadline for prospective sports betting operators to submit their license applications to the Ohio Casino Control Commission (OCCC). Surprisingly, a number of top U.S, sports betting operators have not yet submitted their anticipated applications. With that said, it’s a good bet all of the country’s top operators will get their application paperwork in by the deadline. Should anyone miss the deadline, there is still a possibility they will be able to submit and get applications processed in time for the January launch, if not soon after.

Along with their license applications, applicants are also expected to provide ownership and holdings documentation. As long as all of this information is received in time, OCCC’s management will be able to move forward with the approval process. To date, no applicants (25 received to date) have been approved with applications having already been received from the likes of top U.S. sports betting operators like Caesars, Fanatics, Barstool, PointsBet, and BetMGM. Presumably, BetRivers, Fanduel, and DraftKings will also be in the mix.

Note: There will be a total of 25 Type A (mobile) sports betting licenses issued with license fees ranging from $500K to $2.5K. There will also be 40 Type B (retail) licenses and 20 Type C (Self-serve) licenses issues with licensing fees ranging from $50K to $100K. The top license fees will be charged to sports franchises like the Cincinnati Reds (MLB), Cleveland Cavaliers (NBA), and the Cincinnati Bengals (NFL).

Other Deadlines

Beyond the application deadline of October 5th, there will be two other key deadlines that prospective operators will have to meet.

The first of those secondary deadlines fall on November 2, 2022. By that date, applicants are required to submit certain compliance deadlines. That would include documents such as betting procedures, house rules, responsible gaming plans, security insurance, geo-location tracking software info, and other requirements.

A third deadline falls on December 2, 2022, through the OCCC is not yet focusing on this deadline. This deadline involves any final submissions that might be needed to complete the approval process.

According to OCCC Director of Communications Jessica Franks, “We’ll continue to issue licenses on a rolling basis, and then we will also continue working with those entities to make sure their compliance documents are submitted and approved. Those are probably the two big things we’ll be working on through the end of the year.”

Assuming there are no unforeseen glitches, it looks like legalized sports betting will arrive in Ohio by the self-imposed deadline. That’s great news for Ohio residents who have been looking forward to making their first retail/mobile sports bets without having to leave the state. If the Cincinnati Bengals return to the 2023 NFL playoffs and Super Bowl, the betting handle for the first two months could be significant.