Ohio Sports Betting

In this Ohio sports betting guide, we'll take a look at how the so-called Buckeye State has quickly gone about making up for lost time, having only recently joined the party. Home to a whole host of professional franchises, there's plenty to enjoy here – read on to learn more!

Where to Place Sports Bets in Ohio?

Sports bettors in Ohio haಌve a multitude of options i꧂n terms of bookmakers, but above are our top three sportsbooks available in the state.

Is Sports Betting Legal in Ohio?

Ohio is one of the most recent states to legalize sports betting, with HB 29 having been passed by state legislature in December 2021 and signed by Governor Mike DeWine. Nevertheless, online sportsbooks and physical betting locations didn’t open in the state until 1 January 2023.

The law’s supporters at the time of its passing said that the legalization of sports betting and expansion of the gambling industry would produce millions in new tax revenues for the state, which in turn would support education a♋nd pay for addiction services.

Sports Betting Revenue & Taxation in Ohio

Ohio charges sports betting operators a 10% tax rate on their winnings after all bets are paid. Such a rate is similar to other states that have legalized gambling — except from New York, which chargesꦦ 51% for brick-and-mortar establishments, and Pennsylvania, which boasts a tax rate of 36%.

 However, Governor DeWine is keen to dou൩𒈔ble Ohio’s rate from 10% to 20%. The national average is 19%.

When it comes to licensing fees, these vary depending on the license obtained. For example, Type A licenses (online wagering) cost $150,𝓡000, while Type B licenses (brick-and-mortar) cost $20,000.

Present & Future of Sports Betting in Ohio

Well, it’s been a pretty hectic start since Ohio’s major sports betting launch a💙t the start of 2023.

The Ohio Casino Control Commission (OCCC) reported that the state earned a record-breaking $208.9m in taxable sports wagering revenue in January. While a big month was expected, considering the simultaneous launch of betting apps and physical retailers, such huge figures came as a surprise. The state’s January handle topped $1.1bn, resulting in Ohio beco🔥ming the fifth state to record a monthly handle of over $1bn.

At the end of March, the OCCC reported that the handle for February hit more than $600m, netting $82m in revenue. While these were sharp declines from their record-set♐ting opening month, it was very much expected given the financial heights the state hit in January.

Comparison of Top Sportsbooks

Whether you're a seasoned bettor or just getting started, our below comparisons will help you make informed decisions and find the perfect 🌠bookmaker that meets your needs and expectations.

1. DraftKings

Established in 2012, DraftKings was one of the first operators to go live in Ohio, opening its doors on 1 January 2023. After initially starting out as a well-respected fantasy sports platforꦰm, DraftKings, over the past decade, has developed into one of the leading players in the American sports betting iꦫndustry.

Bettors simply can’t get enough of their comprehensive sportsbook, competitive odds, and the ease at which their website 🃏operates. Niche sports, such as cricket, are covered in impressive depth, too. There’s something for everyone at DraftKings, that’s for sure.

Fantasy lovers, meanwhile, can still utilize the site's stellar fantasy sp🙈orts offer🐲ing, and those that enjoy vintage betting can even enjoy a plentiful supply of pools.

A lack of original and exciting promotions is somewhat disappointing, but the welcome package tailored for bettors in the 22 states where the bookmaker operates will be undeniably appealing to many. New customers in Ohio can unlock up to $1,000 in deposit bonuses, a $50 bonus for signing up, and another $150 bonus as part of the bookie’ꦺs Bet $5, Get $150 welcome offer.

2. BetMGM

Another widely available betting site, BetMGM can be accessed in Ohio after operations started to open up at the beginning of 2023. This bookie enjoyed a successful launch in the state thanks to its standing with MGM Northfield Park, locaജted just outside of Cleveland.

New customers in Ohio are given a bonus first bet when they sign up, with the chance to earn up to $1,000 in free bets. Their welcome offer is one of the best i☂n the state, without question.

Once you've taken advantage of the bookmaker’s generous new customer offer, you'll discover a website that is well-designed and easy to navigate. Placing bets couldn’t be any simpler, while the bookie’s odds are, as you’d expect, more than merely competitive. Overall, BetMGM’s sportsbook is one of the most impressive in the game, with a mammoth 27 sports being covered.

3. FanDuel

FanDuel went live in Ohio on 1 January 2023, with th𝓀e bookmaker opening a sportsbook at Belterra Park Racino in Cinci🌺nnati — a property run by Boyd Gaming.

This site has enjoyed a similar trajectory to DraftKings in that it st🦩arted out as an elite fantasy sports platform before blossoming inꦕto one of America’s leading bookmakers.

Ohio is currently one of 19 states where FanDuel is live, and n꧙ew customers can take advantage of an excellent welcome offer which includes a No Sweat First Bet of up to $1,000.

While some of its competitors leave plenty to be desired on the promotioౠns front, Fa🅘nDuel certainly doesn’t miss a beat in this regard. You'll be treated to an array of exciting and innovative promotions that contribute to this bookmaker being a fun one to use, overall. Bet boosts, win bonuses, and enhanced parlays are almost always on offer.

Best Sports Betting Apps in Ohio

Ohio Sports Betting Promotions

Here are some of the most common sports betting promotions offered by bookmakers l﷽icensed in Ohio:

DraftKings’ No Sweat NBA Bet

LeBron James brought life🐠 to th﷽e city of Cleveland during his two spells with the franchise, with the Cavaliers one of the most supported sports teams in Ohio.

The state is rife with basketball lovers, so DraftKings’ no sweat NBA offer will🉐 certainly interest many.

Should your Same Game Parlay on the NBA Finals, or any game at the start of next season, fail to come in, you’ll receive a refund in bonus bets of up to $10.

FanDuel’s No Sweat First Bet

FanDuel’s new customer offer allows you to back yourself to win big on sportꦯs you feel comfortable betting on. However, there is an element of risk with the bookie’s No Sweat First bet promotion.

Sure, you can bet up to $1,000 on any sports market of their choice offered by FanDuel, but should your qualifying bet lose, you'll be refunded via free bets – not real cash that can be withdrawn. The bookies aren’t that generous! And, while there’s a chance you could wi⛎n big off your free bets, it’s not a guarantee.

BetMGM’s Bonus Bets

BetMGM’s new customer offer is advertis🏅ed differently to FanDuel’s and uꦛses different wording, but the premise is the same.

The bookie offers its new users up to $1,000 paid back in bonus bets shoul🐼d their first bet෴ not win. You’ll receive whatever you staked back in free bets.

For example, if you signed up to BetMGM and staked $500 on the Miami Heat to win🥃 Game 5 against the Denver Nuggets in the NBA Finals but the Nuggets win, you’ll receive $500 in bonu🧸s bets from the bookmaker. These bets can then be used on BetMGM’s comprehensive sportsbook.

BetMGM’s Swing for the Fences

The 2023 MLB season kicked off at the end of March and Ohio is home to a couple of franchises in its two biggest cities: the Cleveland Guardians and Cincinnati Reds. The Reds are five-time World Series champions, but they haven’t won the championship s🌞ince 1990.

Nevertheless, baseball is huge in Ohio and BetMGM has tailored to the needs of fans by introducing their ‘Swing for the Frences’ promotionღ. This is a free-to-play game available on the app that gives users the chance to win daily bonus bets and tokens.

BetMGM’s MLB Parlay Insurance

To celebrate the return of MLB bac🔥k in March, BetMGM ♕also introduced another baseball-related promotion that also tailors to the needs of parlay lovers.

Only Same Game Parlays of four legs or more and boasting odds of +400 qualify꧒ for this offer. Should only one leg of your parlay let you down, you’ll receive your stake back ꩵ(up to $25) in bonus bets.

Popular Types of Bets

Here are some of t𒈔he most popular types of bets that Ohio bettors make on a variety of sports.

ꦛBasic sports betting, this. When placing a money line bet, you’re betting on that team to win the contest.

So, if you place a money line bet on the Cleveland Browns to beat the Cincinnati Bengals, the Browns must win the contest for your bet to win. Your💮 bet loses if the Bengals win or if they tie.

Due to the high-scoring nature of football and basketball, there’s less chance of an underdog victory and thus, money line betting offers lacks value which means 𒁃many turn to spread betting as a way of generating bigger returns.

The point spread is the number of points that a team must win by for the bet to pay out. The favourite will have a ‘-🌼‘ next to their points spread, while the underdog will have a ‘+’.

So, let’s say the spread is: Cleveland Browns (-5) @ Pittsburgh Steelers (+5). This means that, if you backed the Browns, they must win by more than five points for your bet to be successful.

Over/under betting completely takes away the need to 🌠bꩵet on the winner of an event. There are multiple over/under markets associated with American sports, but the most common is points.

The bookmaker will set a line, an♏d you have to decid𓆏e whether to bet over or under that line.

For example, if the bookie sets the line for NFL match-up between 🐻the Bengals and Browns at 51.5, 52 or more points will have to be scored for the over bet to win. Anything less, and the under wins.

 Parlays are what the English call accumula🌜toಌrs, or ‘accas’. They’re extremely popular, especially among novice bettors.

A parlay betꦿ is a combination of bets which are placed into one big bet. To win, all selections within the parlay must come in. Just one loss and the entire thi🍷ng collapses.

These types of bets are hard to pull off, but th🌜ey can garner mamm🌸oth returns.

With prop bets, you’re not focussing on the outcome of an event, and these sorts of bets typically🎐 focus on a player’s performance. But there are several team-associated prop bets as well.

Prop bets have soared in popularity following the establishment and growth of mobile apps as they’re now easier to place than ever before. Markets for such bets ha꧂ve also increased.

 For example, you might want to bet on how many yaꦦrds Joe Burrow will throw, or how many rushing y🔥ards Nick Chubb will accumulate in a particular game.

There are other types of prop bets, incl🍨uding game props, where you’re wagering on something specific to happen in the game. For example, you might back a pa𒐪rticular team to score over a certain number of points in the first quarter.

These are long-term bets that require plenty of patience. If you’ve got an inkling in pre-season that a certain team might win the Super Bowl, p♑lacing that bet before the season’s started is a prime example of a futures bet.

These are bets, as they say, that are decided in the future🔯.

Other examples of futures bets include who will the MVP award, and the tot🥃al number oꦜf wins a team achieves in the regular season. You can also bet on seasonal stats like how many yards Joe Burrow will throw in the regular season, or how many yards Nick Chubb will rush for.

Where To Bet on Local Ohio Teams

There are multiple sports teams based in Ohio’s three most populous cities: Cleveland, Cincinnati, and state capita♔l Columbus.

The Brow🎃ns and Bengals are two significant NFL franchises, while the Cavaliers enjoyed a prolonged period of relevance thanks to LeBron James. The Reds, meanwhile, have five World Series crowns to their name. New franchises, such as FC Cincinnati in MLS and the Columbus Blue Jackets of the NHL are looking to make inroads in their respective sports leagues.

At a collegiate level, the Ohio State Buckeyes sit among the most successful football teams and cont𝄹inue to churn out NFL-level talent on a yearly basis.

Important Sports Events in Ohio 2023

Here’s a list of significant sporting events that Ohio sports fans wiꦗll takeᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚ a keen interest in this year and might fancy betting on:

You must be 21 or over to place a bet in Ohio. In addition, while the state’s gambling laws are pretty lenient, there are several prop bets that you cannot bet on. For example, Ohio-based bettors cannot bet on coin flips or𝕴 the statistical actions of officials and coaches, such as the number of timeouts called. Events where more than 50% of the athletes are under 18 are also prohibited.

Ohio Sports Betting Timeline

Let’s take a look at the recent history of sports 𒀰betting in Ohio:

States Where It Is Legal To Bet on Sports

Changes to federal law has facilitated the legalization of sports gaꦿmbling in over 30 states to some degree, among w🍬hich Ohio is currently included.

ThePuntersPage Final Say

Ohio has already set records since opening its doors to sports betting at ཧthe start of the 2023. This is a massive sporting state, and the availability of sportsbooks combined with the number of local sports teams means the opportunities are endless for sports bettors here!

References