Will Bengals, F.C. Cincinnati Look for New Sports Betting Partners?

Dec 10, 2023; Cincinnati, Ohio, USA; Cincinnati Bengals quarterback Jake Browning (6) celebrates his touchdown run with wide receiver Tee Higgins (5) during the second half against the Indianapolis Colts at Paycor Stadium. Mandatory Credit: Joseph Maiorana-USA TODAY SportsSuperBook and Betfred recently announced their exits from the Ohio sports betting marketSuperBook and Betfred both had online sports betting partnerships with Ohio sports teamsWill F.C. Cincinnati and the Bengals look for new online sports betting service provider arrangements?

A recent Ohio sports betting shakeup has left two professional sports franchises high and dry.

Both Betfred and SuperBook recently announced the end of their sports betting operations in the Buckeye State due to dwindling enthusiasm for their products.

Their decision to end business in Ohio has left the Cincinnati Bengals and F.C. Cincinnati without sports betting operator partners, leaving the franchises’ sports betting operations in jeopardy moving forward.

Betfred, SuperBook Underachieved in Ohio

Neither Betfred or SuperBook gained much traction in the Buckeye State. Both launched on Jan. 1, 2023, day one of Ohio’s sports betting journey, and both struggled to gain significant market share in the state.

Betfred will cease online sports betting in the state on Aug. 14 and users will have until Aug. 31 to withdraw funds from their accounts. SuperBook ceased operations in the state on Friday, July 19, at 8 p.m.

Before their closures, Ohio featured 19 online sports betting operators. Betfred and SuperBook typically have performed among the bottom-five operators since launch.

Over the last two months, Betfred has reported just a little over $20,000 in total taxable gaming revenue while SuperBook reported just $34,000. By comparison, FanDuel has reported nearly $67 million in taxable gaming revenue over the last two months and DraftKings has reported nearly $41 million.

In May, BetFred reported $476,379 in online sports betting handle, just 0.08% of the state’s $595,228,863 total. SuperBook’s $642,070 did not fare much better, accounting for just 0.1% of the state’s online sports betting handle in the month.

Neither have experienced much success, but did serve as sports betting partners for two major Ohio sports franchises.

Bengals, F.C. Cincinnati Left in the Lurch

Neither operator saw much of a bump in activity from their sports franchise partnerships. Betfred served as the Cincinnati Bengals official online sports betting service partner, while SuperBook served as the online and retail operator for F.C. Cincinnati.

Both teams’ sports betting licenses run through 2028.

Neither team responded to a request for comment regarding any future plans to engage in new sports betting partnership.

It may not be out of the question that the Bengals or F.C. Cincinnati do not immediately fill their vacancies. Several other Ohio teams that have lost sports betting operating partnerships have opted to go this route.

The Cleveland Cavaliers and Columbus Crew both hold Ohio sports betting licenses, but don’t offer online sports betting in the state after losing their operating partners.

The Cleveland Cavaliers lost their online sports betting operating partner, Fubo, before the state officially launched online sports betting in January 2023. Fubo ceased operations in late 2022. The Cavaliers never filled the online sports betting partnership vacancy, but do have a retail sports betting partnership with Caesars Sportsbook at their arena.

The Columbus Crew also recently lost their online and retail sports betting partner in Tipico, as the operator left the state in late June. The Crew has yet to make any announcements as to a potential partner to re-enter the Ohio online and retail market.

The Cincinnati Reds also lost their online sports betting partner in BetMGM, as it was transferred to MGM Northfield Park. The Reds replaced BetMGM with Underdog Sports as its online partner, but has yet to launch in Ohio.

BetMGM remains the team’s retail sports betting partner.