According to WCPO’s Dan Monk, the Bengals have applied for a sports betting license. 85 businesses in the state can apply for a license, which includes betting kiosks, online betting and retail sports betting.
As the Bengals organization continues to evolve, it seems that they are trying to keep up with the times and get into the sports betting game.
In recent years, sports betting has gone from something you think takes place illegally in a dark back room to something the league is vigorously promoting.
Sure, legalization is a big part of that, but at the end of the day, it’s all about the almighty dollar. With ad campaigns airing during every commercial break, teams partnering with specific bookmakers, and millions of dollars rolling around, it’s no shock when an NFL team hits the water.
It is not yet known exactly what that would mean, but it is likely that bets could be placed at Paul Brown Stadium on Sunday afternoon. Ohio takes an open approach to betting and omits restrictions and high tax rates like other states, so the organization should have a good degree of flexibility in introducing it. The team recently started rolling out sports memorabilia auctions via the Bengals app and so on Bengal.comso they might try to implement betting there as well.
Times are changing and sports betting isn’t going anywhere, so give the organization credit for taking advantage of an opportunity for additional income. As guaranteed contracts become the new norm, cash placed in escrow is becoming increasingly important. Playing ball with sports betting can help raise more money for some big deals that are on the horizon for cornerstone franchises.