Buckeye State lawmakers were late to the party legalizing sports betting. While Governor Mike DeWine signed HB 29 to legalize sports betting in December 2021, the Ohio sports betting market didn’t open the first day of the year in 2023, almost five years after the U.S. Supreme Court overturned the federal ban on new sports betting legislation.
However, in almost two years of sports betting, the Ohio sports betting market has become one of the biggest in the U.S., with around $900 million in revenue in 2023 and near $1 billion in revenue expected for 2024.
Besides increased revenues, 2024 was exciting for Ohio sports betting. Some new sportsbooks came to the Buckeye State, while other operators left the market.
Ohio Sports Betting: 2024 Highlights
Feb. 23: Ohio became the first state in the union to institute a ban on player prop bets for college sports. This was in response to a letter from the NCAA sent in January. Many other states have banned college prop bets following Ohio's ban.
July 19: SuperBook Sports announced it would leave the Ohio sports betting market. SuperBook also shut its operations in other states, including Arizona, Colorado, Iowa, Maryland, New Jersey, Tennessee, and Virginia.
July 31: Super Group, Betway’s parent company, officially left the U.S. betting market. Betway ended its sports betting operations in Ohio, Arizona, Colorado, Indiana, and a handful of other states, citing poor returns and a lack of opportunity for future growth.
Aug. 21: Bovada added Ohio to its restricted states and territories list after the Ohio Casino Control Commission sent a cease and desist letter to the offshore-based sports betting site.
Aug. 31: Betfred, which partnered with the Cincinnati Bengals as one of the first legal Ohio sportsbooks to go live on Jan. 1, 2023, shut down its operations in the Buckeye State. Before closing, Betfred accounted for less than 0.5% of Ohio’s overall sports betting handle.
Sept. 4: Senator Niraj Antani introduced Senate Bill 312, a bill that would legalize online casinos in Ohio. Lawmakers later sent the bill to the Ohio Senate Finance Committee in November 2024.
Nov. 12: Senator Niraj Antani proposed Senate Bill 190 to reduce the Ohio sports betting tax rate from 20% to its original rate of 10%. The tax rate was increased last year as a part of Governor Mike DeWine’s 2024-25 state budget.
Ohio Sports Betting: Where Things Stand
As you can tell from the timeline above, the Ohio sports betting landscape is in flux right now. Many sportsbooks that rushed to the market in 2023 have left, and the Ohio Legislature is still tweaking some finer points of Ohio sports betting law.
There is a wide range of betting options available to Ohio bettors, including most popular professional and college sports. The only things off-limits in Ohio are betting on awards shows, politics, and college player prop betting. There are 15 legal Ohio sportsbooks, including:
- Bally Bet
- bet365
- betJack
- BetMGM
- betPARX
- Betr
- BetRivers
- Caesars Sportsbook
- DraftKings
- ESPN BET
- Fanatics Sportsbook
- FanDuel
- Hard Rock Bet
- MVGBet
- Prime Sportsbook
Ohio Sports Betting: What's Next?
The Ohio sports betting market is still developing. We expect to see more Ohio sportsbooks come and go in 2025, especially if the state legislature reduces the sports betting tax rate or approves online casinos. Ohio has a maximum of 25 Type A licenses available, which allow sportsbook operators to provide online betting services.
Underdog Sportsbook is one specific name that could launch in 2025. The company was given an Ohio sports betting license in 2022 before the market actually opened.
Ohio could also be affected by national changes, as multiple sports betting bills are being considered in Congress right now. The most significant of these bills is the SAFE Bet Act, which would limit bet amounts and the number of wagers a bettor can place.
Ohio Sports Betting: Notes and Quotes
Senator Niraj Antani on the drawbacks of Ohio’s current sports betting tax rate:
“The 20% rate makes us the sixth highest out of the 38 states with sports betting. This puts us at a significant regional and national disadvantage.”
Senator Niraj Antani on his proposed bill to legalize online casinos in Ohio:
“A journey has to start somewhere. We want to kickstart the process. A good group of legislators are thinking thoughtfully about this issue … It won’t be an easy path.”
