Ohio sets 'use it or lose it' deadline for yet-to-launch sportsbook operators to enter market
State regulator grants reprieve on original January 1 launch-day deadline but warns up to 15 betting entities risk losing their licenses if not operational by mid-2024
The Ohio Casino Control Commission (OCCC) has announced it has extended the launch-day deadline for approved sports betting operators in the state from January 1 to June 30, 2024, though the regulator also warned any betting entities that fail to meet this date may have their licenses revoked.
The new decision comes as a result of a vote taken by the OCCC last week to extend the year-long grace period given to approved licensees to begin their operations, according to commission spokesperson Jessica Franks. Prior to the vote, the original deadline in most cases was the beginning of 2024 – precisely one year from the date that legal sports betting first started in The Buckeye State.
During the process of approving the six-month waiver, the OCCC also made steps to fix a drafting error in what the commission called “use it or lose it” regulations. These provisions and their deadlines are designed to ensure entities that have already obtained a sports betting license in the state follow through on their promise to aid the industry, which generated roughly $700m in betting revenue during its first nine months.
According to Franks, the commission acknowledged various factors – some of which would have been beyond their control – may have affected licensees’ ability to find suitable partners and undertake all other necessary steps before January 1 and the regulator was therefore taking steps to create a “level playing field” among all operators.
One such example of an approved Ohio entity that’s yet to launch operations in the state is the Cleveland Cavaliers, which originally planned to be involved in a series of sports betting apps in partnership with Fubo Gaming, before the latter company announced it would be shuttering its sportsbook operations in late 2022.
As these online/offline partnerships are a prerequisite for launching in Ohio, Franks explained that any of the 15 entities that weren’t operational by June 30 wouldn’t necessarily lose their license by default – and the $150,000 application fee they paid for it – but would rather be reviewed on a case-by-case basis by executive director, Matthew Schuler, and OCCC staff, with further individual extensions possible.