Ohio’s Gambling Revenue Continues to Increase

Casinos in Ohio are enjoying considerable success right now. New reports indicate that Ohio’s gambling revenue has increased for the second straight month. Almost all of the state’s gaming venues saw an increase in earnings last month.

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It’s fantastic news for this state, which is currently deciding whether or not to expand its gambling options. Let’s take a quick look at how much gaming revenue has increased in Ohio, and what new gambling services may soon become available here.

Casinos Help to Boost Ohio’s Gambling Revenue

It’s a great time to be a gambling operator in Ohio. Today, there are 5 land-based casinos in this state and seven “racinos,” offering casino-style games and horse racing odds. In July, gaming revenue in Ohio increased for the second straight month.

The five casinos and seven racinos took in $164.3 million in July. This represents a 4.2% increase compared to the same month in 2018. Total casino revenue was $71.4 million, while racinos brought in $92.9 million.

Almost all gambling venues in the state saw their revenue earnings increase. Only MGM Northfield experienced a revenue decline. This casino’s profits fell by 3.2% in July. It’s disappointing news for the casino and MGM overall, which is also experiencing issues with one of its major casinos in Massachusetts.

MGM Springfield, located in Springfield MA, has been struggling to compete in the newly competitive Massachusetts casino market. Just a couple of months ago, Wynn Resorts opened the Encore Boston Harbor in Everett. This casino is proving to be massively successful, resulting in a decrease of gamblers at MGM Springfield.

MGM is having a rough few months. Fortunately, all of the other casinos in Ohio are surging. Recently, lawmakers in this state have discussed adding new gambling options to the state.

Sports Betting in Ohio May Just Around the Corner

In May of 2018, the US Supreme Court struck down PASPA. With this set of laws now gone, every state can set laws on the sports betting industry. 13 states now have active sports gambling platforms up and running. Another six have passed sports betting legislation and will launch sportsbooks within the next few months.

Last year, five Ohio Senators presented formally presented a bill to legalize and regulate sports betting. Unfortunately, lawmakers in this state have been at odds over which group should control the sports betting industry. Governor Mike DeWine has called for the Casino Control Commission to regulate this new market. Several state representatives believe the Ohio Lottery Commission should be given regulatory authority.

Hopefully, politicians here can come to an agreement. Everyone recognizes the massive earning potential from sports betting. States like New Jersey and Pennsylvania, which began regulating the sports betting in the past two years, are earning millions of dollars every month from the industry.

Regulated sports betting would help to significantly increase Ohio’s gambling revenue. It’s clear that residents here love to gamble.

US Casino Industry Grows Stronger Every Year

Ohio isn’t the only state to experience an increase in casino revenue earnings. Many states around the country are now choosing to expand their gambling operations. US casino competition has never been more fierce and is likely to increase over the next several years.

Illinois is one state actively working to expand its gambling industry. Not long ago, lawmakers here approved a new capital plan to add five more casinos. For the first time ever, a casino will be constructed in Chicago. Hope is that these additional gaming venues bring the state millions in additional revenue each month.

Pennsylvania has also begun to add more casinos. Lawmakers here approved plans for 10 additional satellite casinos to open around the state. These “mini-casinos” will be operated by casinos that already run here.

If Ohio’s gambling revenue continues to increase, lawmakers here may choose to add more gambling establishments, as well. A regulated sports betting market and additional casinos could make Ohio one of the most lucrative gambling hubs in the midwest.

Things are definitely looking good for casino companies here. Make sure to stay tuned for more Ohio casino news over the next few months!

Ohio Gambling Revenue Increases in July

The casino industry in Ohio is booming. According to new reports released by Ohio’s Lottery and Casino Control Commission, gambling revenue in this state increased in July. Interestingly, Ohio gambling revenue is up thanks mostly to racinos operating here. State Flag Of Ohio

Now is the perfect time to look at what’s happening with this state’s gambling industry. We’re also going to talk about the likelihood of sports betting become legal here. Let’s get into it!

Ohio Casinos Bring in Major Revenue Last Month

Ohio is well-known to have one of the most passionate gambling fan bases in the country. There are eleven gambling establishments in this state, four of which are stand-alone casinos, while seven are “racinos” offering casino-style games and horse racing odds. For years, these gambling venues have brought in millions of dollars via taxes

July proved to be one of the most successful months of the year for casinos here. Reports show that overall gambling revenue in this state rose by 2.3% for a total of $162.2 million. Casinos in the Cleveland area experienced the largest revenue increase.

Slot machines in racinos near Cleveland brought in the most revenue last month. The revenue from these slots rose by 3.3% to $91.9 million. Slots and table games inside traditional land-based casinos brought in $70.4 million for a revenue increase of 1%.

Nearly 30% of Ohio gambling revenue goes directly to the state in the form of taxes. This money is used to fund public education. Many are now calling for Ohio to legalize sports betting, which is proving to be one of the most lucrative forms of wagering allowed today.

Ohio Revenue Will Increase With Legal Sports Betting

For decades, the only state legally allowed to offer sports betting odds in the United States was Nevada. In May of 2018, this all changed. That year, the US Supreme Court decided to strike down PASPA, the set of laws limiting sports betting to Nevada.

Almost immediately afterward, several states began introducing legislation to legalize and regulate sports betting. New Jersey was the first to offer sports betting and is now earning millions of dollars each month through the industry. Other states including New York, Pennsylvania, and Rhode Island now allow sports gambling, as well.

Most agree that Ohio gambling revenue will increase substantially with legal sports betting. Lawmakers in the state seem to agree. In July of 2018, five Ohio senators introduced a bill to fully legalize sports gambling. The one-page bill lacks specific details on how to regulate the industry, yet offers a basic outline for full-scale legalization.

It seems likely that sports betting will become legal here within the next few years. Most states are realizing the massive revenue potential from this industry. There’s a chance that Ohio will begin regulating online gambling, as well.

Online Gambling in Ohio Growing More Popular Than Ever

If sports betting is the big thing in gambling right now, online gambling is the thing of the future. More people around the country are choosing to make their bets online, despite most states have no regulation of the internet gaming industry. Ohio is one such state.

There are a huge number of safe, fun online casinos in Ohio. Strangely, the state government has shown little willingness to regulate these websites. As a result, they pay nothing in taxes. This may change in the future, though.

Some states, including New Jersey, now regulate online casino gambling. These states use geo-location to allow internet gambling within the state borders. It’s extremely convenient for those looking to make some wagers from the comfort of home.

This industry would also help to raise Ohio gambling revenue. Thousands of people in this state are betting online already. With regulation, the state could finally begin to earn valuable tax money through its internet gambling fans!

What do you think Ohio should change about its gambling industry? Will sports betting be legal here soon? Stay tuned for updates!