Legal Ohio sports betting will launch on January 1st, 2023, at the top of the new year. This came to fruition thanks to a bill to legalize sports betting in Ohio that was signed on December 10, 2021.
Unfortunately for bettors in the state of Ohio, sports betting is set to launch over a year after the aforementioned bill was passed. As a result, the state of Ohio is leaving money on the table – particularly revenue that would have been generated by the Ohio State vs. Georgia College Football Playoff matchup taking place on New Year's Eve.
How Is Ohio Missing Out On Millions With A January 1st Legal Sports Betting Launch Day?
If Ohio launched sports betting in early September of 2022, it would have been just in time for Week 1 of the NFL season. A September 1st launch would also have been ahead of the college football season, which would have put Ohio State Buckeyes betting markets and Cincinnati Bearcats betting markets in play.
Both of those collegiate programs are projected to be two of the biggest moneymakers in the state of Ohio when it comes to revenue generated from sports betting.
An early September launch date would have also led to revenue made on the World Cup, the first half of the NBA season and the NHL season, as well as the MLB playoffs. All of these are popular sports betting markets and opportunities lost.
Rumors That Ohio Will Launch Legal Sports Betting Early Ahead Of Ohio State vs. Georgia Nixed
Despite the reports suggesting that the Ohio Casino Control Commission was considering the early launch of legal sports betting in Ohio ahead of Ohio State vs. Georgia, those rumors were nixed. The OCCC ultimately decided against an early launch date despite the fact that they would have only had to move the launch by one day.
The Peach Bow featuring Ohio State vs. Georgia is taking place on December 31, 2022, just one day ahead of Ohio's legal sports betting launch date.
The Buckeyes are one of the most prominent CFB programs in the country, perennially competing for national championships, making them one of the most popular college football betting markets on a national stage. It only makes sense that this collegiate program is projected to be a powerhouse money-maker when it comes to the most popular Ohio sports betting markets.
To put things into perspective, Ohio's projected sports betting handle is projected at $8 billion in its inaugural year, which would be the fourth-highest behind New York, Pennsylvania, and Illinois.
An adequate piece of that handle is expected to come from football, both professional and collegiate. Football betting markets consume roughly 30 percent of the national handle. With the Cincinnati Bengals, Cleveland Browns, Ohio State Buckeyes, and Cincinnati Bearcats to bet on, Ohio's projected football betting market is robust.
Ohio Is Missing Out On Millions By Launching Legal Sports Betting After Ohio State vs. Georgia
Ohio will be leaving millions of dollars in handle on the table by not allowing the state to bet on their Buckeyes when they play Georgia in the Peach Bowl on December 31st, 2022. If the Buckeyes can get past Georgia, however, Ohio will look to recoup their losses with bets placed on an Ohio State appearance in the national championship game.
It'll be a race against the clock for Ohioans, with the Peach Bowl kicking off at 8pm ET local time – four hours before the Ohio launch of legal online sports betting.
The average nationally televised college football bowl game lasts 3 hours and 32 minutes, with a ceiling of 4 hours and 12 minutes. If the game carries beyond midnight, live betting the game will be an option for Ohio sports bettors to consider.
If you're in Ohio, make sure you're prepared ahead of time. Pre-register with the best Ohio betting promos being offered on the top Ohio betting apps to take advantage of generous pre-live offers.
One of the best offers available is through BetMGM. Sign up with the BetMGM Ohio Bonus Code ROTOBONUS today to get $200 in free bets for launch day. Caesars Sportsbook is also offering a $100 bet credit when you sign up using Caesars Sportsbook Ohio Promo Code ROTOTIX. After making a $20 deposit, you will also be entered into a drawing for Cleveland Cavaliers tickets.
This article is part of our Ohio Betting News series.
