FanDuel, Fanatics and the Bengals Seek Ohio Mobile License

Ohio Sets Date for Sports Gambling Launch on January 1, 2023

FanDuel, Fanatics and the Bengals Seek Ohio Mobile License

In Summary:

FanDuel, Fanatics and the Cincinnati Bengals are the latest to apply for a license in OhioThere are at least 25 online sports betting licenses up for grabsThe first round of applications has included others, including BetMGM, DraftKings, Penn National, PointsBet and more

Image Source: Shutterstock.com

Sports betting operators in Ohio are scrambling on their feet to apply for a launch in the market. The application deadline closed last Friday, leaving only Caesars Entertainment as the company which did not apply. The latest movers from last week include the Cincinnati Bengals, Fanatics, and FanDuel, all of which are hoping their bids will clear the bars set by the Ohio Casino Control Commission and make it on time for the January 1, 2023 launch.

Ohio Sports Betting Licenses Keep Piling On

The market is quickly getting a lot of interest as well. BetMGM, PointsBet, DraftKings, and Penn National Gaming have all submitted their bids to secure Mobile Management Services Provider permits, which will enable them to expand rapidly in the state and offer online sports betting products. More details should be forthcoming as the timeline advances, offering insight into what partners will be selected and what the betting propositions would be.

BetMGM and PointsBet were the first two companies to apply as early as June 20. The application window opened on June 15. Other companies that have expressed interest include BetJACK and Elys.

More Applicants to Follow as 25 Licenses Available

The Friday cut-off is just for the first round of applicants, with more applications to be processed afterward as well, the Ohio Casino Control Commission explained. There is certainly no shortage of how many operators there can be on the market.

House Bill 29, which regulates the sports betting market and has created the conditions for its official launch, specifies that there are at least 25 online betting licenses that will be up for grabs, provided that there are sufficient parties that clear the entry requirements.

As Ohio moves towards the launch date, the state has planned well as both the Super Bowl and March Madness will guarantee strong results for all market participants.

Author: Ian Douglas