Ollie RingThe Ohio Lottery Commission has released its first revenue figures after the legalization of sports betting in the state, and the numbers are disappointing compared to analyst expectations.
Although there were 772 approved Type-C locations (legally defined as kiosks and counters at lottery-license holding locations), reports suggest only 275 kiosks had been rolled out by Intralot, therefore meaning most could only offer betting at the counter.
What was Ohio Type-C revenue for January?
The full statistics as published by Ohio Lottery are as follows for January 2023:
- Handle: $850,336
- Prizes: $722,376
- Promotional Credits: $0
- Voids: $11,920
- Gross Gaming Revenue: $116,040
- Percentage Hold: 86.16%
- Host Locations: 772
The distribution of revenue was as follows:
- Proprietor Share: $87,664
- Ohio Lottery Share: $28,376
It is important to note that the Ohio Lottery Commission only reports on Type-C wagering, which is the kiosks and counters that also run lottery. Full first month OH mobile wagering figures will be released by the overall regulator, the Ohio Casino Control Commission in due course.
How big can sports betting handle be in Ohio?
GeoComply’s geolocation data for Superbowl LVII just gone showed sports wagering activity in OH was on par, if not higher than that in New York – the largest state by sports betting revenue to date. Analyst predictions suggest that total sports betting handle for Ohio’s first month could be as high as $1 billion.
Over 1,500 kiosk locations had been pre-approved by the Ohio Lottery Commission, and over 1,100 by the Ohio Casino Control Commission. Undoubtedly once the teething problems have been ironed out, and Ohio’s kiosks are firing on all cylinders the Type-C function may account for a considerably higher percentage of total handle on a state basis.
What does the betting landscape look like in OH?
Ohio’s commercial gambling landscape is split between commercial casino-resorts and racinos, with four casinos being regulated by the Ohio Casino Control Commission and seven racinos regulated by the Ohio Lottery Commission.
Commercial casinos were authorized back in 2009 after votes approved a ballot, with racinos being approved two years later following an executive order. Commercial revenue for the state was, according to the American Gaming Association $2.31 billion in 2021, with $759.3 million generated in tax for the state through commercial gaming activities.
Gov. Mike DeWine signed a bill in December 2021 to legalize sports wagering. It took just over a year for sports betting legislation to be fully drafted and to launch in the state. The most recent legislative changes with regards to Ohio gaming came with the Budget Bill looking to allow charitable bingo halls to house electronic bingo devices. There is little to no activity in the legislative space for legalization of online casino in OH.
This article was written for Business 2 Community by Ollie Ring.
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