Ohio’s gambling regulators are mulling over a potential amendment that would address unused sports betting licenses, primarily targeting operators who have yet to activate them.
The proposed change, put forth by the Ohio Casino Control Commission (OCCC), focuses on licensees who have failed to offer wagers for over a year or have never launched their operations, a situation mainly observed among professional sports properties.
Legal sports betting in Ohio commenced on January 1, 2023, and the proposed amendment seeks to refine regulations while potentially offering leniency to professional sports properties that have yet to tap into the burgeoning sports betting market.
Stakeholders across Ohio have been notified by the OCCC that they have to provide feedback on the proposed “use-it-or-lose-it” amendment, which has been under consideration for over a year.
If enacted, the amendment would empower the executive director of the OCCC to take administrative action against licensees who fail to actively offer sports betting for a continuous period of one year or more.
It outlines a clear process for revoking licenses and stipulates that license renewal applications will not be accepted if operators have not engaged in sports betting during the preceding license term.
Among the impacted licensees are three Type-A (online) sportsbooks, including Underdog Sports, WynnBet, and the Cleveland Cavaliers. Additionally, seven Type-B (retail) operators have yet to open retail sportsbooks, while all Type-C operators are currently operational with kiosks.
Original article: https://www.yogonet.com/international/noticias/2024/05/08/72069-ohio-considering-amendment-for-unused-sports-betting-licenses
