Although sports betting in Ohio has barely been live for six months, shakeups and major developments continue to be quite common throughout the industry.
By now, in fact, it almost feels like Ohio sports betting is years removed from its initial launch. Really, though, legal gambling in the state has only been live since January 1.
The latest wrinkle? BetMGM will reportedly be closing what was supposed to be a highly touted retail location. With that said, the company intends to reopen the sportsbook somewhere else. And they apparently expect this relaunch to happen soon.
If that sounds weird, well, that's because it is a little weird. But don't twist yourself into a pretzel amid the confusion. We're about to try making sense of it all.
BetMGM is Closing Their Premier Ohio Sports Betting Location...and Opening Another One
Let's start with the latest BetMGM news. The gambling-operator giant was among the first to strike a partnership with local pro sports franchises and currently has a retail location inside the Cincinnati Reds’ Great American Ball Park. However, they recently announced they will be closing the doors on this sportsbook and launching (read: re-launching) at another downtown location.
Anyone who enjoyed the BetMGM retail betting experience needn't worry. The sportsbook won't be going far. The new location is basically across the street from the old one, which means it's still within walking distance of Great American Ball Park. The current location inside the stadium, meanwhile, will remain open through the end of the 2023 MLB season.
This news has naturally raised some eyebrows within the Ohio sports betting industry. The sportsbook inside the Reds' stadium was designed specifically for this BetMGM location. The thought was home games would juice foot traffic and interest. However, it turns out that this BetMGM sportsbook is the worst performing sportsbook in Ohio among all on-site gambling operators. Both BetMGM and the Reds apparently underestimated how inaccessible the location would be when the Reds were traveling, as well as how many gamblers want to hang around, eat and drink after placing their wagers. The new location seeks to address all of these issues. Here are the details via the Journal-News in Cincinnati:
"The Bet MGM Sportsbook’s new spot will be at the corner of Second Street and Joe Nuxhall Way in the area formerly occupied by Galla Park. The new location will feature the city’s fourth Nation Kitchen & Bar. The restaurant portion will be open to all ages but the sportsbook is only open to those above the age of 21. There will be several betting windows along with self-service kiosks surrounded by televisions showing live sports action. The sportsbook will also be open on non-game days, the company said. The move is expected to boost foot traffic for what is currently Ohio’s worst-performing retail sportsbook, based on state revenue data and the only retail sportsbook in Ohio that lost money for its operators."
It isn't immediately clear when the new location will be unveiled. But with the original BetMGM Sportsbook remaining open through September, the belief is the grand opening will be sometime shortly after or before.
Should the Influx of Shakeups Concern Ohio Sports Betting Industry?
Change has been a constant in the Ohio sports betting scene over the first few months. Merely digging through all the developments can be exhausting. First, The Buckeye State focused on an expansive and arduous licensing process. Gambling operators flooded the market with applications and were subsequently put under the microscope. Then, Ohio sought to regulate the number of sports betting welcome bonuses and promotions that were being offered throughout the state prior to the official launch.
Once gambling went live, Ohio almost immediately began cracking down on infractions and leading discussions on sports betting reform. Sportsbooks in Ohio were fined for illegally (but inadvertently) offering certain wagers. Select operators were also dinged accidentally targeting underage individuals with their email promotions. On top of that, state regulators helped uncover an Ohio sports betting scandal by tracking questionable wagers placed on a university's baseball program. This development, in particular, has sparked conversations about NCAA betting policies and the organization's capacity to effectively regulate them.
Even more recently, lawmakers in Ohio have discussed raising the sports betting tax in an effort to maximize their revenue stream. Meanwhile, the state continues to spearhead both official and unofficial dialogue on the status of how much sportsbooks spend on advertising each year and whether that practice needs to be more closely regulated.
Never mind the amount of change Ohio sports betting has already undergone since launching just months ago. Merely considering so many adjustments could suggest the state is worried about the future of sports betting. This is especially true for an event like a BetMGM Sportsbook relocation. And yet, The Buckeye State has no reason to worry—at least publicly.
All of the activity in Ohio seems to be proactive. The state and its operators are trying to remedy current and prospective issues to simplify and strengthen the future of their industry. These developments are not the response to dwindling revenue. On the contrary, monthly Ohio sports betting revenue continues to rise. And more than that, the state wouldn't actually consider doubling their sports betting tax if they weren't one of the most popular (and profitable) markets in the United States.
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