Top stories around our network this week
Following in the footsteps of Illinois, another Midwestern state whose residents have proven to have an unusually large appetite for sports betting, Ohio has not only joined the smorgasbord of legalized states, but quickly taken a very prominent seat at the table.
The Buckeye State’s $1.11 billion in January sports betting handle was second only to New York, and its sportsbooks’ $208.9 million in gross revenue — on an astronomical 18.8% hold — dwarfed anything seen in any state in any month before, even in New York. True, that first month of betting was vastly inflated by the $320 million in promotional credits major online sportsbooks like FanDuel and DraftKings gave away, but even with an overall net loss of $111.1 million as a result of those bonuses, Ohio made a statement about its impact within the industry.
Ohio might have a hard time matching such numbers anytime soon, if ever, but it already helped push the volume of legal national sports betting above $200 billion in the post-PASPA era. The pace of growth in the overall sports handle keeps accelerating, and it’s about to get another boost with Massachusetts’ launch of mobile betting on March 10.
The industry’s spread has certainly created some unprecedented regulatory concerns about excessive marketing and potential for problem gambling, but there’s no denying the public popularity of an activity that had to be kept underground in so many places for so long. With Ohio now in the fold in a big way, sports betting is increasingly a part of everyday life in America.
and its network of sites and staff will be tracking further expansion closely, along with all other gambling-related developments, as our stories of the past week show.
Hope you don’t have a problem with this
Dear Keith: Do I have a gambling problem?
Colorado approves more than $1.5 million to combat problem gambling
Gaming Control Board issues guidelines for March Madness
Hard to argue with this data
GeoComply data suggests Georgians eager for legal betting
Data indicates North Carolina bettors want mobile options
It’s decision time in Georgia
One Georgia bill to legalize sports betting fails in Senate
Georgia legislators debate wagering bills as crossover deadline nears
Minnesota getting a bit closer
Wagering bill passes second Minnesota committee in a week