In Virginia’s first year of legal sports betting, the state saw a 10.4% increase in its leisure and hospitality segment. This is encouraging for Ohio, which is planning to launch legal sports betting by the end of 2022.
Prior to the launch in Virginia in January 2021, the Virginia Joint Legislative Audit & Review Committee said that there would likely be an increase of at least 5,000 jobs post-launch. In January 2021, the leisure and hospitality industry, which includes all gambling-related employment, provided jobs for over 335,000 Virginians. Over the year, the industry added nearly 35,000 more jobs.
Even in the face of another Covid flare up at the end of the year, the industry remained strong. This is encouraging because the leisure and hospitality industry was the second fastest growing industry in the state between 2021 and 2022. As new casinos are slated to open in the coming years, more growth can be expected because each casino can employ a thousand or more local residents.
What to expect for Ohio Jobs
“Job creation would be [one of the] economic benefits,” Lake Erie College economist Faria Huq explained in a conversation about the sports betting outlook in Ohio. Legislators can look towards Virginia as an example of the potential for new jobs.
The Oxford Economics Group (OEG) explored the potential outcomes for jobs in Ohio. The estimates range from 2,300 new jobs to over 8,300. In the best case scenario, where retail and online betting is widely available, the OEG believes that new jobs may fall on the higher end of the range.
Right now, there are around 519,000 Ohioans employed in the leisure and hospitality industry. If 8,300 new jobs were added in the gambling sector, this would mean a growth rate of around 2%. Because the gambling sector is only a portion of what makes up the leisure and hospitality industry, this would be an impressive contribution to the industry’s growth.
Sportsbooks in Virginia
While casinos are a major contributor to employment, online sportsbooks also make an impact. This is because many bettors prefer to use the apps to place bets.
Virginia has eight major sportsbooks that are live. This includes, DraftKings, BetMGM, Caesars, and others.
The state is looking to add two additional books this year. Betway and SI Sportsbook have both received licenses and are working towards a launch.
Sportsbooks in Ohio
Ohio can expect to see similar online sportsbooks as the state finalizes the launch. Apps to keep an eye out for are:
- Caesars, which already owns and operates Eldorado Gaming Scioto Downs in Columbus, Ohio
- BetMGM Ohio, which has partnered with Boyd Gaming for market access via Belterra Park Gaming & Entertainment Center. This is in addition to MGM-owned Northfield park.
- WynnBet, which announced early market access to Ohio on January 21, 2021.
- Hard Rock Sportsbook, which owns Hard Rock Casino in Cincinnati
- Barstool Sportsbook, which is owned by Penn National. Penn National operates four of Ohio’s Hollywood Casinos in Columbus, Toledo, Dayton and Mahoning Valley
Ohio can also expect to see major players like FanDuel, BetRivers, and DraftKings, which tend to operate in all markets. Each of these apps is also operational in Virginia.
Story by Stephanie Wood
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AFP
