Sportsbook profits are expected to reach $24 million by next June.
COLUMBUS, Ohio — Sportsbooks in Ohio began Jan. 1, and businesses like Donerick’s Pub in Reynoldsburg are getting ready to let patrons place bets on their beer purchases.
“I think it’s definitely better for the business. I think it’s going to bring in a lot of money,” said bartender Bandy Gadrim.
Half of Ohio’s sports betting profits are earmarked for interscholastic sports for K-12 students. The other half is used for the education of K-12 students.
related: Ohio Sportsbook: Here’s Where You Can Bet to Start the New Year
What’s not yet clear is the formula for determining how much each school district receives.
Currently, profits from sports betting go to the Ohio General Assembly, which then distributes the money through what’s called the Sports Education Betting Fund. Sports betting costs are estimated to be around $160 to $170 per student.
Sportsbooks in Ohio are estimated to generate $24 million in revenue by next June, but could be as high as $90 million a year over the next three to five years.
Inside Donerick’s Pub, they use the sports betting app “Sports Bet Ohio”.
Once you download the app on your phone, you can start betting on everything from major sports to tennis to cricket.
Once you choose the sport and how much you want to bet, the app creates a QR code that must be scanned at the bar. That scan is sent to the kiosk that prints your betting ticket, which you’ll need to cash out your winnings.
“Right now, we only pay once a week until we get the hang of it,” Gadrim said.
Below is a breakdown of the number of self-service kiosks in the following major regions.
- Akron: 39 kiosks
- Brunswick: 7 kiosks
- Guangzhou and North Guangzhou: 16 kiosks
- Cincinnati: 43 kiosks
- Cleveland: 26 kiosks
- Columbus: 46 kiosks
- Dayton: 17 kiosks
- Palma and Palma Heights: 22 kiosks
- Toledo: 26 kiosks
- Youngstown: 16 kiosks
Ohio Lottery Pre-Approval 1,500 self-service kiosk hostsHowever, only 1,075 Received conditional approval from the Ohio Casino Control Commission to operate self-service kiosks.According to PlayOhio, “At least 11 online gaming apps in Ohio began accepting wagers at 12:01 a.m. Sunday. That number will continue to grow, but it’s already Largest single-day online gambling app launch in the history of our nation.