According to a press release by GlobeNewswire, Elys Game Technology Corp. announced it had received approval for an Ohio sports betting vendor license good for 5-years.
However, the license remains subject to ongoing proprietor suitability and continuous maintenance of the Ohio Lottery compliance requirements.
About Elys Gaming
Elys Gaming is a B2B gaming company providing gambling solutions in multiple countries. The company provides back-end support and product services for several games, including:
- Sports betting
- Virtual sports
- Online casino games
Ohio sports betting officially launched on New Year’s day. The Buckeye State became the 32nd US state with legal, regulated sports betting.
A growing list of Ohio gaming operators
Elys Gaming joins a growing number of vendors, online sports betting operators and retail locations looking to establish themselves in the Ohio market.
So far, there are 12 retail sportsbooks, nearly two dozen sports betting apps, and over 1,000 retail betting locations. These retail locations include bars, restaurants, bowling alleys, and grocery stores with self-service betting kiosks.
Under Ohio gaming law, customers 21 years or older can place a maximum bet of $700 per week.
The wagering cap is a safety precaution created by gaming regulators to protect casual bettors and high rollers.
State Senator Niraj Antani commented during a legislative hearing:
“We don’t want people rolling in with $100,000 in cash to get at your local pub, that’s more appropriate for full sportsbooks that have the security measures, the security cameras, the ability to pay out a bet of that size.”
Gov. Mike DeWine signed HB 29 on Dec. 21, 2021, legalizing sports betting in Ohio. Since then, getting the industry up and running has been a slow process. Despite the snail’s pace, Ohio saw the largest single-day launch of online sports betting apps in US history.
The launch saw the debut of big-name operators like DraftKings, BetMGM and Caesars. Customers can expect more online operators to roll out over the next few months.