Breaking News
More () »

Sports gambling profits headed to Ohio schools

Sports gambling profits are expected to generate $24 million dollars by next June.

COLUMBUS, Ohio — Sports betting in Ohio kicked off on Jan. 1 and businesses like Donerick’s Pub in Reynoldsburg are ready to see patrons place a bet while buying a beer.

“I think it's going to be better for business for sure. I think it will bring out a lot of money,” said Bartender Bandy Gadrim.

Inside the pub, they use the sports betting app "Sports Bet Ohio."

Once you download the app on your phone, you can begin placing a bet on everything from major sports to tennis to cricket.

Once you select the sport and how much you want to bet, the app creates a QR that must be scanned at the bar. That scan is sent to a kiosk that prints your betting ticket that you will need to cash your winnings.

“Right now, we are doing payout only once a week until we get the hang of the payouts," said Gadrim.

Half of Ohio sports betting profits are designated for interscholastic athletics for students in K-12. The other half goes to education for K-12 students.

RELATED: Ohio sports betting: Here's where you can place bets at the start of the new year

What’s not clear is the formula that determines how much each school district receives.

For now, sports gambling profits will go to the Ohio General Assembly who will then distribute the funds through what’s called the sports education gaming fund. It’s estimated the breakdown is about $160 to $170 per student from sports betting.

It’s also estimated that sports betting in Ohio will generate $24 million by June of next year, but could reach as high as $90 million per year over the next three to five years.

Here’s a breakdown of how many kiosks are in the following major areas.

  • Akron: 39 kiosks
  • Brunswick: 7 kiosks
  • Canton and North Canton: 16 kiosks
  • Cincinnati: 43 kiosks
  • Cleveland: 26 kiosks
  • Columbus: 46 kiosks
  • Dayton: 17 kiosks
  • Parma and Parma Heights: 22 kiosks
  • Toledo: 26 kiosks
  • Youngstown: 16 kiosks

The Ohio Lottery pre-approved around 1,500 kiosk hosts, however, only 1,075 have received conditional approval from the Ohio Casino Control Commission to operate a kiosk. According to PlayOhio, “At least 11 online betting apps started taking bets at 12:01 a.m. Sunday in Ohio. That number will continue to grow but it was already the largest single-day launch of online betting apps in our nation’s history.

Before You Leave, Check This Out