With so many states weighing the pros and cons of adding online gambling to their state, it is easy to forget that live gambling is still fairly new in some states—such as Ohio.
Ohio only dipped its toes into the gambling pool in 2009 with hopes of generating over $140 billion in revenue (from which the gambling taxes would be used to fund education and community programs).
While the expectations were high for the first four live casinos in Ohio, the success has been lacking. In 2013 they only generated a combined $821 million, and 2014 is expected to be less than that. So the question that comes to mind is whether saturation within Ohio has been reached, or if adding online gambling to the mix will create additional revenue?
When looking at live gambling nationwide, Ohio’s trends are following suit. Currently the only states that have legalized and regulated online gambling are Nevada, New Jersey, and Delaware. But some believe Ohio may follow California among the next states to embrace online gambling. And just because the first three states are struggling make online gambling hugely profitable, new industries take time to grow. And Ohio may just have the stomach and the patience to wait for their riches.
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