Regulators have approved the latest batch of licenses for online sports wagering in Ohio, including a permit for the micro-betting firm co-founded by social media star and boxer Jake Paul.
The Ohio Casino Control Commission met on Wednesday to consider approving licenses for retail sportsbooks and online sports betting sites.
One of the licenses approved by regulators was a five-year mobile management services provider permit for Betr Holdings Inc., the "micro-betting focused sports betting company" created by Paul and Simplebet founder Joey Levy.
More licensing! The Ohio Casino Control Commission just approved online sports betting permits for @betr and @Fanatics, among others. Legal sports betting won't start in the Buckeye State until Jan. 1, 2023, though. pic.twitter.com/dZRmGCYClM— Geoff Zochodne (@GeoffZochodne) November 16, 2022
Levy was in attendance at Wednesday's meeting and said he was confident that if Betr was awarded a license, it would play a "meaningful role" in the state's sports-betting market by providing a different kind of experience for players.
One difference will be related to responsible gaming, as Betr won't allow deposits with credit cards and will subject players between the ages of 21 and 25 to limits on their wagering.
Betr has yet to launch a real-money betting operation in a state, but it is laying the groundwork to do so in several, including Ohio.
"We plan on becoming a market leader in the U.S. and are excited by the possibility of beginning our journey in the great state of Ohio," said Levy, who is also Betr's CEO.
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The license will allow Betr to conduct online sports betting on behalf of its “proprietor” partner, which is the Pro Football Hall of Fame Village in Canton. The village has already been conditionally approved for a mobile sports wagering license, although no legal sports betting can begin in Ohio until Jan. 1, 2023, the state's universal start date.
Also approved for online sports betting licenses on Wednesday were merchandise company Fanatics, which aims to build an iGaming business and is in line to run retail sportsbooks for the Cleveland Guardians and the Columbus Blue Jackets, as well as the owner of betPARX.
Ohio’s sports-betting law initially allows for up to 25 online sports betting licenses to be awarded to proprietors, such as casinos and professional sports teams, which can partner with up to two mobile management services providers, such as Betr, BetMGM, and BetRivers.
There are 40 proprietor licenses available for brick-and-mortar sportsbooks in Ohio as well, in addition to more than a thousand businesses that could host lottery-linked sports-betting kiosks.