Ohio’s sports betting industry has hit a milestone this month as the state’s lifetime sports betting handle reaches $10 billion, making it the fastest US market to reach that figure. Since full legalization in 2018, Ohio residents have embraced sports betting and online casino offerings, with companies like Cloudbet offering a wide range of betting opportunities. This legalization has not only brought benefits such as regulation and tax revenue for the state but also expanded options for everyday citizens looking to place wagers.
In April 2024, Ohio-based regulators introduced a new “use it or lose it” rule that would revoke licenses for sports betting companies that do not provide services for more than a year. This proposal aims to improve consistency and regulation across the industry, extending to kiosks and retailers as well. While only three Type-A license holders are currently affected, these changes are expected to take months to come into effect.
These developments underscore the growing popularity and importance of the sports betting industry in Ohio, as regulators work to ensure fair and accessible betting opportunities for residents. With the industry continuing to evolve and expand, Ohio’s sports betting market is poised for further growth and success in the coming years.
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