Ohio Legalized Sports Betting
Official betting is the act of placing a bet on a sports game or event. It is regulated and legal in most states, and is a popular pastime for many fans. Sportsbooks spend millions of dollars a year on advertising to draw in new customers. This includes TV commercials and sponsorship deals with teams, which are often accompanied by the sportsbook’s logo and branding.
As a result, it is no surprise that there is a growing number of partnerships between sports leagues and sportsbooks. These arrangements generally consist of a licensing agreement between the sportsbook and the league, which grants the bookmaker permission to use official data and league logos in its sports betting ads. The leagues gain additional revenue from the fees charged for the use of their data and name-branding, while the sportsbooks gain a competitive edge by using official statistics in their pricing models and creating more attractive propositions for bettors.
Major League Baseball (MLB) has partnered with FanDuel to become its co-exclusive official sportsbook partner, along with BetMGM. The deal adds to FanDuel’s extensive US sports sponsorship roster, which already includes the NBA, NHL, NFL, WTA and PGA Tour.
Ohio legalized sports betting in December 2021, with retail sportsbooks opening in November and online launches happening on May 1. PlaySugarHouse, DraftKings, FanDuel and BetRivers are among the sites available in the state.
In a state where legal sports betting has been around for just over a year, the sportsbooks have already made a big impact on the state’s economy and have carved out a significant share of the market. In fact, Ohio has the highest percentage of online sportsbooks of any state, with 8 to start and up to 15 more expected to launch when it reaches maturity.