The first month of Ohio sports betting wraps up in just a few days, but it will be another month before we learn what kind of revenue numbers the state produced in January.
According to the Ohio Casino Control Commission, there will be a one-month lag for the posting of sports betting revenue. The state is also moving the reporting of casino revenue to the same schedule. Those numbers previously came out around one week into the following month.
“The reports for casino revenue and sports gaming revenue will be posted simultaneously beginning in February,” Jessica Franks, OCCC director of communications, told PlayOhio.
Big Ohio sports betting revenue numbers coming … eventually
If the numbers reported by a geolocation technology firm and PlayOhio’s parent company, Catena Media, are any indication, Ohio should brace for an impressive first month of revenue.
Earlier this month, Catena reported its strongest-ever launch period for a U.S. state, with Ohio surpassing last year’s New York sports betting launch in transactions. Those preliminary numbers only covered the first two days of sports betting in Ohio, but ongoing sportsbook promotions and the NFL playoffs — including the Cincinnati Bengals’ current run to the AFC Championship — have continued to engage Ohio bettors.
“This is without doubt our strongest state sports betting launch period to date,” said Ryan Harper, Catena Media vice president North America. “We’re delighted to see strong traffic on our websites in relation to the Ohio launch. Player engagement in licensed sports betting has been very solid.”
The first quarter of 2023 is expected to be strong overall with Super Bowl betting and March Madness on the calendar.
GeoComply, the leading geolocation firm in US online gambling, also reported Ohio’s first weekend of numbers as the nation’s highest during that period. Plus, Ohio had more location checks, which are necessary for placing bets, than New York did when the states went head to head during Sunday’s Cincinnati Bengals win over Buffalo.
Ohio sports betting revenue reporting a little slower than most states
Ohio’s one-month lag is a little more time than neighboring states take to release their figures. Indiana also releases sports betting and casino revenue together, but its 2023 revenue posting dates are between the 10th and 13th of each month following the month being reported. West Virginia follows a similar schedule for its online casinos and sports betting revenue.
Michigan’s internet gaming and sports betting revenue numbers typically come out between the 17th and 20th of the following month. Pennsylvania follows a similar schedule for slot machines, table games, sports betting, iGaming, video gaming terminals and fantasy contests reporting.
Ohio will now have separate reporting dates for its monthly casino and racino revenue.
In addition to sports betting revenue, the OCCC reports the monthly casino revenue. It will release those monthly numbers along with the sports betting figures. Ohio racino revenue comes from the Ohio Lottery Commission — that schedule will remain the same, around one week into the following month.
Over $39 million in sports betting licensing fees already hit Ohio coffers
The first few weeks of Ohio sports betting set the stage for a strong first quarter and the first year for what PlayOhio believes will become one of the biggest sports betting states in the U.S.
Ohio has already seen a revenue boost from the licensing fees paid by retail and online sportsbooks, along with businesses planning to add sports betting kiosks in over 700 locations throughout the state.
According to the OCCC, Ohio received $39.2 million in licensing fees from October through December 2022. A portion of that money has gone to the Sports Gaming Profits Veterans Fund, which is run by the Ohio Department of Veterans Services.
The rest goes to the Sports Gaming Revenue Fund, which then distributes funding — including ongoing tax revenues and fines issued by the commission — to the Sports Gaming Profits Education Fund (98%) and the Problem Sports Gaming Fund (2%).
Some licensing fees are paid in installments, with half of the fee due at the time of licensing, so additional licensing fees are still on the way over the next five years.
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