Draftkings sets to seek sports betting license in Ohio

The Ohio Casino Control Commission said on Friday that DraftKings has presented its licensing request to act as a digital operating services provider in the state.

There are now five businesses in the state of Ohio that have shown an interest in obtaining licenses to operate sports betting operations.

In spite of the fact that the Boston-based firm does not yet have an owner partner, DraftKings was one of the providers that struck a huge contract with Penn National Gaming in 2019 in order to get entry into the market in a number of states. This includes the state of Ohio.

Meanwhile, JACK Cleveland and JACK Thisteldown both submitted their applications for their permits last week. The franchise businesses owned by JACK Entertainment, which include a standard casino in Cleveland and one located in North Randall, are looking to get both a Type A online owner license and a Type B retailer license.

JACK officially announced in April that it would be launching its online system known as betJACK, which was built in collaboration with Shape Games. Although it is now offered as a free-to-play game, the company is looking to become licensed as a management system operator in the state.

These corporations joined BetMGM and PointsBet, which had already filed their requests immediately after the time for doing so began on June 15.

Corporations that want to act as retail or virtual proprietors and operators that want to offer either in-person or internet gambling have till July 15 to file their proposals. The deadline for in-person wagering applications is August 15.

Submissions made for bars and other sorts of establishments of this kind who want sports wagering terminals, the Type C permit, in their locations will begin to be approved on July 15. The submission time for those licenses is open through August 15, and proprietors who desire an additional partner may also file their request within that time period.

Following the selected dates of 15th of July and 15th of August as due dates, the OCCC will keep receiving requests for licenses. On the other hand, proprietors and operators who do not present their requests may have the threat of being unable to begin on the proposed date.

In Ohio, sports wagering will not begin until January 1.

LICENSING LEVY FOR SPORTS BETTING

Fees associated with obtaining a license are subject to change. The fee for a license with one online operator will be $1M, while the fee to collaborate with two online providers will be $3.3M. The cost of partnering with a single internet company will be $1.5 million for casinos and racinos, while the cost of partnering with two will be $5 million.

Online operators collaborating with a single team will be required to pay $2 million for a license, while online companies that partner with two groups or venues would be required to pay $6.7 million.

The license framework for wagering on sports in Ohio may be rather perplexing, but the rate of tax is straightforward. Every provider will be subject to a tax levy of 10% of the total revenue generated through gambling.

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