The rule for Ohio’s sports betting licenses is “use it or lose it.” Regulators are looking to make that rule much softer.
Sports betting opened in Ohio on January 1, 2023. Jack Cleveland Casino was one of few sportsbooks that launched immediately at midnight.companies with unused licenses like the Cleveland Cavaliers and Canton’s Hall of Fame Village.
The change means that a company could go the length of the license period, typically five years, without accepting any bets — and not lose its license. JACK Entertainment accepts bets at two betting lounges and on its BetJACK app. But the company has a second and currently unused mobile-betting license.And while the Hall of Fame Village has Jake Paul’s Betr app, the company said it will only open a physical sportsbook if it can find the right partner.
There are still mobile-betting licenses available. But in some counties, physical sportsbook licenses are limited and already spoken for. Cuyahoga County is limited to just five physical sportsbooks, with only the Browns’ betting lounge not open. Just under 98% of bets in Ohio through February were placed on apps, not at physical sportsbooks. And most of those bets were on two apps, FanDuel and DraftKings.
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