The Ohio Casino Control Commission has been granted a waiver allowing an extension of the deadline to launch mobile and retail sports betting, granting the regulatory body discretion in revoking licenses that have been unused in accepting sports bets.
Let’s take a closer look at the extension and how it may impact top-rated sportsbooks in the region.
Use It or Lose It
Ohio launched mobile sports betting on January 1, 2023, and the rules stated that licensees would have a year to begin accepting wagers. However, that period was extended by six months to June 30, 2024. Yet, due to a variety of issues, including everything from supply chain issues to the inability to successfully partner with a mobile sports betting platform, some Class A (mobile sportsbooks) and Class B (retail sportsbooks) licensees have been unable to launch their operations.
This stalemate promulgated a waiver being granted to the Ohio Casino Control Commission’s executive director, Matthew Schuler, giving him greater discretion in assessing which entities will require more time than the June 30th deadline to get their affairs in order so that they may launch mobile and/or retail sports betting depending on their license classification.
Therefore, the “use it or lose it” clause has been softened, which will allow the OCCC to determine on a case-by-case basis which entities will be allowed more time or face revocation of their licenses.
“It’s no longer a have-to-take-action requirement,” OCCC communications director Jessica Franks said. “We are aware of some of the difficulties that different entities are encountering.”
A sports complex in Geneva, Ohio, is one of those licensees that is pleased with the decision to potentially grant it more time to sort out its issues and use its license effectively. The SPIRE Institute & Academy in Geneva has engaged Prime Sports to possibly partner with it on an intimate retail sportsbook inside Chops Grille & Tap House sports bar, but that project has been delayed.
“We are thankful to the commission for launching today’s rule-making process and taking swift action on the waiver that will provide us some relief,” a SPIRE spokesman said. “We look forward to working with the commission and the Ohio legislature to identify enhancements to the current statutory and regulatory framework governing retail wagering. It is our goal to create more favorable market conditions for suppliers and operators to help grow the retail gaming industry and there’s a role for policy-makers in that process.”
Football Hall of Fame in Delay
One of the most iconic sports locations in America, the Pro Football Hall of Fame in Canton, Ohio is ground central for memorializing the greatest gridiron players in history. The Hall of Fame Village secured both a mobile and retail license but has launched only the former in partnership with Betr. Unfortunately, the Village has yet to land a retail sports betting partner, which has caused the delay.
The Ohio market has been dominated by six mobile sportsbooks claiming 95% of the online sports betting market including FanDuel (43%), DraftKings (30%), BetMGM (8%), Bet365 (7%), ESPN Bet (4%) and Caesars (3%). Considering that 97% of the wagers in the Buckeye State are placed digitally, it leaves only scraps for the many retail licensees.
“It’s a tough road because the economics are challenging for the (retail) operators,” said Hall of Fame Village CEO Michael Crawford. “Some (companies) have pulled out because of the lack of financial success.
“We’re looking more creatively at the retail sportsbook itself, something that can be more interactive, something that could potentially leverage more mobile and technology in terms of an experience. … We haven’t given up on it and I think there still can be an opportunity. We just need to find the right partner and nuance the deal so it’s attractive to both sides.”
