Betfred USA eyes Ohio regulated market with Cincinnati Bengals partnership
Buckeye State team inks multi-year deal with aspiring Ohio licensee
Betfred USA has agreed a multi-year partnership to become the official sports betting partner of NFL franchise the Cincinnati Bengals, a deal which could see the operator gain access to the Ohio market.
The partnership includes a number of customer acquisition and engagement-led opportunities with the NFL side, as well as promotional and free-to-play activities. Betfred was represented in the deal by SCCG Management.
Betfred is currently operating in six states, and recently inked a market access deal in Maryland with Long Shot’s of Frederick, Maryland.
“This is an exciting opportunity to partner with the Bengals as we continue to expand Betfred across the US and into Ohio with the launch of sports betting in the near future,” Betfred Group COO Mark Stebbings said.
“The Bengals are a premier franchise with a passionate fanbase and a history of innovation that aligns with our brand.
“We look forward to engaging with fans across the state as we introduce them to unique betting promotions and content throughout the year,” he added.
Legalized sports betting in Ohio will officially begin on January 1, 2023. Betfred is one of a number of operators with plans to launch in the Buckeye State and is currently seeking licensing and regulatory approvals to operate its app there.
The Bengals became the first NFL side to apply for a mobile sports betting license with the Ohio Casino Control Commission (OCCC) on Friday, along with US market leader FanDuel and prospective sportsbook Fanatics.
Bengals VP and CMO Brian Sells highlighted the partnership as providing the NFL franchise with new ways to engage with its fans.
“We look forward to working with Betfred to create fun, fan-focused activations that add to the excitement on gameday,” Sells said.
BetMGM and PointsBet were among the first to apply for sportsbook licenses in the state, along with DraftKings, Penn National Gaming’s Barstool Sports, and JACK Entertainment.
There are 25 online licenses available for casinos, pro sports teams, and racinos, with each allowed one skin per license, which could potentially lead to around 50 brands launching alongside retail options.
The favorable tax rate of 10% on gross gaming revenue (GGR) means the Buckeye State is set to be a particularly competitive market involving all the usual suspects.
Ohio is also home to almost 12 million people, making it the seventh most-populous state, not far behind the regulated state of Illinois. Ohio is the fourth largest state to legalize betting after Pennsylvania, Illinois, and New York.