Sports betting has been legal in Ohio since January 1st.
Bittenbender said Ohio is one of the largest sports betting states in the nation, with numerous professional sports teams and regional universities such as the Ohio State Buckeyes, the University of Cincinnati, Xavier University, the University of Dayton, and Wright State University. number of.
“There’s a lot of interest in this activity, and I think it’s also helped that some sports teams are having success,” he said. “Fans of those teams want to be more committed to betting on teams that are successful or players that are having successful seasons.”
Since January, Ohio has generated $780 million in taxable revenue, with nearly $761 million coming from online gambling and $18.9 million from retail gambling.
Bittenbender said the fiscal report, a report drafted by the Legislative Budget Office for House Bill 29 to determine the impact sports betting will have on Ohio, states that the state could receive up to $24 million a year. He said that it has the potential to bring in income.
“Obviously, we’re pretty much above January’s numbers (alone).”
Ohio has generated $102 million in taxes through October.
This was partly due to lawmakers’ decision in July to double taxes and raise withholding from 10% to 20%.
Also contributing to the increase in sports betting revenue is the fact that its original estimates were made during a time when sportsbooks primarily encouraged single-game wagering. That is, a person would place his one bet on one outcome, such as the team winning, the total points scored, or the team covering the spread. Bittenbender said. Operators are now promoting parlays, or multi-‘leg’ bets, where you can bet on multiple elements in one or more games. All “legs” or elements of that bet must occur for the bet to pay out, but that win is more economical than his one bet and his one outcome bet. It is important.
Sports betting in Ohio began on January 1, making it the 32nd state to allow live sports betting. According to the American Gaming Association, 37 states now participate in sports betting, including Washington, D.C., with Vermont expected to start early next month.
Some states only have online gambling, others only in-store gambling, but Ohio has both.
The bet kicks off in January with big bets in January, boosted by the new option in Ohio, plus additional stakes for gamblers just by signing up via certain services Various financial incentives were dangled in front of prospective people.
Total wagers decreased in February, but rose again the following month for March Madness. It then decreased for three months, and in July and August it increased slightly. The restart of the NFL season made him double his revenue by September, and in October he started the NBA season and the MLB playoffs and World Series kept his revenue at the same level as the previous month.
Bittenbender said the more popular brick-and-mortar options in Ohio include about 20 online sportsbooks affiliated with casinos, racists and other “operators” that have a physical presence in the state. said to be included.
Gary DeWitt, senior director of operations for Miami Valley Gaming in Warren County, said the venue’s sportsbook debuted Jan. 13 with 16 terminals dedicated to sports betting. DeWitt said October has historically been the best month for sports betting at MVG.
“You have the NFL. You have college football. You have the baseball playoffs. The NBA is starting,” DeWitt said. “It’s kind of fun to be able to lay out daily odds sheets. There are so many options for guests to choose from.”
Activity at Miami Valley Gaming’s sports betting terminals primarily heats up on Saturday mornings before college football kickoffs get ready, and then again on Sunday mornings before NFL games, DeWitt said. It’s said to get hot.
Sports bets can also be placed through kiosks at bars, restaurants, bowling alleys, grocery stores, and other establishments. The Ohio Lottery Commission announced Monday that Ohio consumers have spent nearly $10.8 million at lottery ticket offices through October. This means $251,811 to the state, the commission said.
Bittenbender said betting via kiosks “hasn’t been as popular as a lot of people had hoped.”
“It’s just because online is so popular,” he says. “You don’t have to go to the corner bar or bowling alley to place a sports bet. You can do it from home.”
“Honestly, it’s not very popular in our particular location,” said Deanna Bryant, general manager of Fricker’s Restaurant, 1818 Woodman Drive in Dayton. She said, “We have a lot of lottery traffic when it comes to Keno and Mega Millions and things like that. I wouldn’t say sports betting has taken off by leaps and bounds.”
Bryant said he believes sports betting in Ohio was introduced to capture some of the traffic generated from lottery revenue, “but people rely on online access, so to speak,” so sports betting The majority of this will still be done through apps.