gguy44/iStock via Getty Images
When the clock strikes midnight on January 1st, sports betting will be legalized in Ohio.
The release of sports betting in Ohio is coming in spades The Ohio State Buckeyes could be featured if Georgia beats the Bulldogs a week before the 2023 College Football Playoff National Championship Game. Professional sports leagues such as NFL, NHL and NBA are also in full swing when the sports betting starts in the state.
Bettors in Ohio can place wagers at 12 licensed retail sportsbooks and 16 mobile sportsbooks. That list includes DraftKings (Nasdaq:D.K.N.G), BetMGM (MGM), bet365, barstool sportsbook (Ben), Caesars (CZR), PointsBet (OTCQX: PBTHF), Hardrock Digital, PetDrivers (RSI), and FanDuel (OTCPK:PDYPY) development may favor the Genius Game (Jenny), which holds a sports gaming supplier license with the Ohio Casino Control Commission.
Looking ahead, PlayOhio.com projects $8.8B in betting handle by 2023, second only to New York’s estimated $13.7B. Overall, sports betting in the US is projected to reach $100B by 2023.
For investors, profitability is as big a focus as industrial growth with the stock market in a typical risk-off mode. Draft Kings (D.K.N.G), BetMGM (MGM), and Caesars Sportsbook (CZR) is expected to reach profitability at some point in 2023 to join FanDuel. However, a fanatic (FANA) The launch of sports betting in Q1 could disrupt the profitability profile around DraftKings (DraftKings).D.K.N.G) and other online sportsbook operators if advertising intensity increases again.
Read on The latest breakdowns on DraftKings from Seeking Alpha contributors.