According to sports betting experts BetBlazers.com who offer a guide on where to bet legally in the US, there are currently a number of states with legal sports betting. Ohio will be one of the biggest.
Colloquially known as The Buckeye State, Ohio is set to become the thirtieth US state to legalise sports betting in the US and is currently the seventh largest US state by population.
With over 11.7 million inhabitants, Ohio will become one of the biggest markets for legal betting in the United States. Only New York, Pennsylvania and Illinois offer legal sports betting and have larger populations.
The legalisation of sports betting in the US was originally prohibited by the PASPA (Professional and Amateur Sports Protection Act) passed in 1992. Since it was judicially overturned in 2018, individual US states have been able to determine the legal status of betting on their own terms.
According to reports coming out of the US, Ohio will take almost a record amount of days to transition into a legal betting platform, as it looks to European style regulation models.
Ohio will reported take a total 374 projected days to go live. This comes in contrast to other US states who have legalised sports betting in a much quicker fashion. For example, Iowa’s roll out of legal sports betting was an 89 day process, while Wisconsin was 151 days. Only Tennessee at 489 days will have been a longer process.
It follows as the US looks to change the culture around sports betting, with a large state set to learn from other US states and European gambling authorities also.
The success of big US brands such as FanDuel and DraftKings operate in a variety of US states and currently have the widest coverage. In combination with the gradual establishment of legal sports betting the US look set to challenge Europe for both gambling exposure and revenue.
A recent article on US sports betting stocks to watch has detailed the extent to which these operators are becoming an integral section of established economic trends.
The US has looked to Europe in the recent roll out of sports betting across a number of US states. Over 20 European states currently have legalised and licenced gambling to varying degrees.
One of the most entrenched markets is the UK which often sets the pace as one of the world’s most innovative countries with legalized gambling.
The benefits of the licence system have been debated across Europe, most recently with the Netherlands looking to legalise online gambling. The same arguments are propelled in the US, with revenue and security being among the most common benefits of employing a licence system.
Those US states that have already legalised gambling in the last four years are split between those who allow in-person, physical gambling, and others which also allow for sports betting.
The move towards iGaming has been gaining pace in the US. Of the 29 states that currently allow for legalised gambling in some form, just over half at 18 states, also allow for online sports betting.
Each online operator must apply for an individual licence in order to be active in any given state. Operator licences have typically been awarded in batches, such as was the case in larger markets such as New Jersey and more recently in New York.
Ohio looks set to award the largest single amount of licences. 46 reported operators are looking to open their books to accepting bets.
Legal betting is expected to start in Ohio on 1st January 2023.