Ohio is the birthplace of Aviation, one of the biggest breakthroughs in technology the world has ever had. Ohio is also known by nicknames such as The Mother of Presidents, The Heart of it All and The Buckeye State.
Here, you have a smaller state with just 44,000 square miles of land, but 11 million residents. The population is one of the largest in the nation as it is ranked 7th. In Ohio, you have many different ways to play for money when it comes to the entertainment world of gambling.
Ohio Gambling Scenario
The casino history in Ohio is a recent one, as only in 2009 the state decided to make them legal and put an end to the trips their citizens had to make to Indiana and Pennsylvania, neighboring states, to play at the casino.
In 2009 four casinos were approved, one per major city: Cleveland, Toledo, Columbus and Cincinnati, and between May 2012 and March 2013 all the casinos opened their doors.
In 2012 gaming in Ohio took another boost as legislative action expanded the use of slots, or video lottery terminals, also known as VLTs, to the seven racetracks of the state. The existence of these VLTs is a technicality that makes them an extension of the lottery instead of a pure slot, making them legal this way.
Just since 2012, Ohio has managed to provide to their residents close to 20,000 slot machines as well as over 300 table games, horse racing, and poker. All this gaming abundance has actually placed Ohio in the unusual position of maybe having too many casinos and gambling in the state and close to their borders.
Racinos have also been proliferating in the state, currently, there are 7 available, and some blame these last for the decline in the revenues from the Casinos that attract slots gamblers away from them, as many times racinos and casinos compete in the same cities.
Some say the northeastern region of the US is over-saturated with gambling and that there aren’t enough players to keep them profitable, something that won’t be changing anytime soon as the tax returns are much too appealing for the state.
Jack Entertainment LLC is a company based in Detroit which holds property of several casinos and racetracks throughout the country (Michigan, Maryland, and Kentucky), even if most of their holdings are in Ohio. The company belongs to Quicken Loans, the same proprietary of the Cleveland Cavaliers.
The competitive pressure existing in the sector is making their revenues suffer, and the numbers from 2016 are 32% inferior to the ones from 2013, something explained by the opening of the nearby racinos. Despite the casino novelty factor is gone, the revenues are still considerable, so this means that the consumers are the ones that will benefit the most from competition, as amazing promotions could be coming to the gambler way.
Types of Gambling Found in Ohio
Ohio has many different forms of gaming apart from the casinos. Players within this state have some rich history to trace back. The lottery was the first game offered to the state which was actually a state lottery. This was implemented in 1973 where players could buy a ticket and win money! The lottery has brought the state more than $2 billion since the date of establishment and has proved to be a really great move.
Though the lottery has been available since this date, it almost didn’t happen as the approval rating was only 64%. Players are able to join in on the ticket buying as early as 18 years of age. Pari-mutuel betting is another big business within the state of Ohio as well with more than eight different parks throughout the state where players can bet on the track, over the phone or intertrack too.
Online gambling in Ohio remains in that gray area most of the country is in, and there are no regulated options for residents of visitors to the state. This might be changing in a near future though, as the state wants to optimize its tax revenue and for that has recently received a study from the Spectrum Gaming Group that recommends the legalization of online gambling. Seeing the online performance in the neighbor state of Pennsylvania might also work as an incentive for the Ohio legislators.