Ohio Welcomes Slew of Operators Following License Approval
What is the latest in a number of states to become regulated recently, Ohio has further staked a claim in the US online gambling industry after it approved mobile sports betting licenses for FanDuel, UBetOhio, and Barstool Sports.
With sports betting being made available to state residents earlier this year, the entry of major operator FanDuel into the market highlights the potential that the firm believes the market can have.
Indeed, early reports indicate that the state could become a US leader for sports betting, with in excess of 20 applications made for licenses.
Strong Sports Franchise Presence Proving Major Factor for Huge Potential
It is little surprise that so many operators made initial applications when considering the number of sports franchises that are in the state, even rivaling the likes of California and New York.
Playing home to the Cleveland Browns and Cincinnati Bagels NFL sides, NBA’s Cleveland Cavaliers, Columbus Crew, and FC Cincinnati of the MLS and the PGA Tour Memorial tournament, the interest will no doubt sky-rocket in the coming months.
Also, this is great timing for all three operators, with the MLS and NBA seasons only recently starting and offering a lot of promise in what is a state with a large sporting following.
UBetOhio Making Strong Case for a Big Impact
One operator that sparks intrigue is the state native UBetOhio, a new startup initiative in the Ohio sports betting market and one that has a significant pedigree behind it.
We have brought together an investor team with more than 50 combined years of experience in the gaming, legal, and food and beverage industries.
We’d especially like to thank the Ohio Casino Control Commission for the approval today and their excellent staff, who have been great to work with through this extensive and thorough licensing process. Our team is excited for the opportunity to bring a full-service sports betting experience to Ohio sports fans.
This may well reflect the state’s desire for a more focused approach to sports betting from an operator that clearly understands the market and what potential customers want.
It puts the firm in a unique position, based on the fact that it has a comprehension of customer buying behavior, which can assist in helping to create effective marketing campaigns in a bid to differentiate itself from its competition.
Because the industry is still brand new in Ohio, this is also a great opportunity to acquire as many customers as it can really quickly and even seek to forge partnerships with sports franchises across the state.
For all involved, the next year will certainly be interesting from both a revenue and participation standpoint, and it could well mount a major challenge to become one of the most prominent states for sports betting.
The median household income in the state between 2016 and 2020 was just under $60,000, which could well be another positive sign that the response will be an encouraging one. This is certainly one to watch.
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