Ohio
Ohio looks to cash in on Super Bowl betting
Illustration: Annelise Capossela/Axios
Anticipate many Ohio sports activities followers to obsess about spreads in the course of the Tremendous Bowl, and we’re not speaking in regards to the trays of meals in entrance of them.
What’s taking place: Ohio is anticipated to soak up almost $83 million in Tremendous Bowl bets, fifth-highest among the many 33 states the place sports activities betting is authorized, in keeping with PlayOhio.
- Ohio ranks behind Nevada, New York, New Jersey and Illinois, and simply forward of Pennsylvania.
Why it issues: Main Ohio cities are banking on the potential tax income from sports activities betting.
- Cleveland Metropolis Council estimates legalized sports activities wagering may generate $65 million in annual income to be put towards enhancing town’s infrastructure.
Catch up quick: Sports activities betting turned authorized in Ohio on Jan. 1, with 16 sportsbooks now reside within the state.
By the numbers: In January, greater than 160 million cases of somebody logging on to a web based sportsbook in Ohio have been recognized by GeoComply, which tracks the placement the place an app is opened.
- Greater than 31 million such cases have been in Cleveland, second solely to Cincinnati’s 38 million.
In the meantime, the Ohio On line casino Management Fee is anticipated to launch the primary official sports-betting income figures on the finish of February.
Zoom out: Greater than 50 million U.S. adults are anticipated to wager $16 billion on Tremendous Bowl LVII, per the American Gaming Affiliation. Each figures are roughly double final 12 months’s report tally.
What they’re saying: Eric Ramsey, market analyst for Catena Media, which owns PlayOhio, tells Axios that the sum of money being wagered in Ohio has been spectacular.
- “To be proper there with Pennsylvania, which launched in 2018, and Illinois, which launched in 2019, is superb,” Ramsey says, “particularly lower than 45 days in.”
The underside line: The Tremendous Bowl is just the start for Ohio sports-betting exercise, which may generate almost $9 billion in bets in 2023.