The state of Ohio has recently become a hub for sports betting operators looking for a share of the market. With a total of 17 online sportsbooks and 12 retail sportsbooks the market in Ohio has become increasingly competitive. Obtaining the license is just the beginning of the Ohio sportsbook journey. To gain market share, sportsbooks must differentiate themselves from the competition and provide sports fans with a superior betting experience.
Success for operators in Ohio’s sports betting market will rely on offering unique and innovative services that will attract sports bettors who value quality and trustworthiness. Operators can achieve this by providing a seamless mobile experience, a wide range of betting options, and competitive welcome bonuses, promotions, and rewards programs to new and existing users. Several operators announced pre-launch bonuses to attract new users, such as Betfred Sports, Betr, Barstool, and PointsBet. It’s critically important to get creative with these promotions, for example, Betfred offered a pre-launch bonus focused on user retention, where users bet $50 and get $111, and up to $1,000 in “FredBets” with 50% of net losses for the first five weeks returned. FanDuel also offered a creative acquisition promotion by offering three free months of NBA League Pass to its users on top of their $100 pre-launch bonus.
Not all operators had a seamless experience obtaining licenses. PlayUp was denied a license due to alleged illegal gambling activity, and Kroger delayed the launch of sports betting kiosks for all 42 of its locations until later in 2023. WynnBET didn’t submit its application during the first skin window but is currently live in Ohio. The Cleveland Cavaliers were momentarily left without a sports betting sponsor due to Fubo shutting down their sportsbook operations. However, Caesars eventually signed a deal with the Cavaliers, opening a retail sportsbook in their stadium. All in all, obtaining the license is a critical step in the journey, but successfully operating and obtaining market share is the differentiating variable.
As the market continues to grow, sportsbooks will need to differentiate themselves even further to stand out in the crowded Ohio sports betting market. Some operators have formed strategic partnerships to achieve this. For example, AEG Presents and Tipico announced a strategic partnership, with Tipico now being the exclusive sportsbook partner for AEG’s owned music locations. Betfred became the official sports betting partner for the Cincinnati Bengals. BETR signed a 10-year partnership with Hall of Fame Resort & Entertainment to become their official mobile sports betting partner. Sportsbooks were strategic and creative with their partnerships in hopes of capturing niche groups that account for a small percentage of the market.
In the increasingly crowded Ohio sports betting market, sportsbooks must utilize the best technology available to provide a proper user experience and retain users. This means offering a seamless payment process that accepts a variety of payment methods and ensures quick and secure transactions. A user-friendly platform is also essential, with easy-to-navigate menus, a clear layout, and reliable odds information. A streamlined and straightforward sign-up process is also crucial, with user-friendly registration forms and a clear explanation of the process. In addition, a wide range of betting options and competitive welcome bonuses and rewards programs can help retain users. In short, providing an exceptional user experience through modern technology is a major key to success in Ohio’s crowded sports betting market.
In conclusion, the Ohio sports betting market is oversaturated, and sportsbooks will have to differentiate themselves from the competition to obtain market share. Operators can achieve this by offering unique and innovative services that will attract sports bettors who value quality and trustworthiness. As the market continues to grow, providing a superior betting experience for sports fans will be the key to success.
