- Ohio’s gambling revenue has reached new heights, with $2.11 billion in handle so far.
- This is compared to $1.44 billion in handle in 2020.
- Ohio is also looking to regulate sports betting, a process that should be complete by 2023.
COLUMBUS, Ohio - There is a double helping of good news for fans of gambling in Ohio, as revenue reached new highs and the state came closer to regulating sports betting.
Ohio Sets New Gambling Revenue Record
The year isn’t even over yet and Ohio’s casinos have already reached new highs, with $2.11 billion in handle through November.
That is a very significant jump - over $120 million more than the previous high, which was set in 2019.
There was a significant falloff in 2020 due to the COVID-19 pandemic, but a rebound in 2021 has evidently brought the industry to new heights.
In 2020, casinos in the state brought in only 1.44 billion, so it is likely that there will be an increase of more than 50% from 2020 to 2021 when all is said and done.
Ohio Legislature Set To Approve Sports Betting
Meanwhile, the success of gambling in the state could have influenced lawmakers to move more quickly towards regulating sports betting.
A bill to do so has passed both chambers of the Ohio State Legislature, and is now on its way to the desk of Ohio Gov. Mike DeWine.
DeWine has been a longtime proponent of sports betting, and is widely expected to sign this bill into law, where it will allow sports betting in the state by the beginning of 2023.
The bill separates sports betting licenses into various classes, from A-C, and does include online sports gambling.
- Class A Licenses: Allow for mobile sports betting, meant for big sportsbook operators such as DraftKings and FanDuel.
- Class B Licenses: Allow on-premises sports betting, meant for casinos, sports teams and racinos.
- Class C Licenses: Allow for mobile betting kiosks, meant for restaurants and bars.
The clauses that regulate sports betting in Ohio were added onto a separate bill, one that regulates ID cards given to military veterans, but at this point, anything is good enough for DeWine to sign, it seems.
Ohio’s gambling fans will likely have a plethora of options to choose from by Jan 1, 2023, when the bill comes into effect.