Ohio Sportsbooks Clear $3 Billion In Wagers For 2023
Ohio has continued to see strong sports betting handle and revenue numbers since launching mobile sports betting in January. April continued this trend with $521,703,584 in wagers for the month. April’s betting handle pushed the lifetime handle to $3,014,214,051. It only took four months for the Buckeye State to reach this feat.
Ohio Already A Major US Sports Betting Market
April’s handle represented a 29.36% dip compared to March’s $738,613,175. Ohio sportsbooks still managed to rake $63,819,857 in sports betting revenue off of a 12.2% hold rate in April. This contributed $6,406,696 in state taxes and pushed the total revenue to $451,049,931 for 2023 with $45,186,115 in lifetime state taxes.
These revenue and handle numbers put Ohio in rarified air. Only established markets like New York ($16,344,688,791 in handle, $1,438,482,901 in revenue for 2023), New Jersey ($3,789,398,794 in handle, $292,295,694 in revenue for 2023), and Nevada ($3,005,265,687 in handle, $166,101,000 in revenue for 2023) have seen comparable numbers.
Ohio sports betting is currently on pace to become a top-three market.
Mobile Books Dominate The Market
The sports gaming revenue reports show the dominance of mobile sports betting in Ohio. Mobile betting apps took 97.14% of all wagers in Ohio in April. The Ohio mobile betting handle received its largest contributions from FanDuel, DraftKings, and BetMGM.
Ohio Mobile Betting Handle Breakdown By Sportsbook
| Operator | Handle | Market Share | Revenue |
|---|---|---|---|
| FanDuel | 184,592,054 | 36.5% | 27,987,421 |
| DraftKings | 161,288,718 | 31.2% | 17,225,605 |
| BetMGM | 38,149,451 | 7.5% | 4,577,531 |
| bet365 | 36,915,067 | 7.3% | 5,111,655 |
| Caesars | 27,458,515 | 5.4% | 2,135,069 |
| Barstool | 23,463,182 | 4.6% | 2,123,513 |
| Hard Rock | 8,749,499 | 1.7% | 887,886 |
| Tipico | 7,164,998 | 1.4% | 740,442 |
| Hollywood Dayton | 3,732,923 | .07% | 187,243 |
| BetJACK | 3,653,559 | .07% | 437,311 |
| PointsBet | 3,230,666 | .06% | 432,974 |
| Betfred | 1,793,584 | .04% | 72,155 |
| SuperBook | 1,451,808 | .03% | 40,853 |
| betPARX | 1,123,947 | .02% | 83,636 |
| Betway | 972,025 | .02% | 71,777 |
| Betr | 751,475 | .01% | 33,501 |
| MVGBet | 719,918 | .01% | — |
| Fanatics | 431,708 | NA | 124,037 |
Online betting has consistently dominated the U.S. as the primary avenue for wagering. Fans have a lot of options in Ohio, which aids the Buckeye State. Retail operators still managed to see nearly $15 million in wagers for April, showing a strong market on that front as well.
Sports Betting Decline Likely Incoming
With NBA Finals betting and Stanley Cup betting as the last major sporting events until football season, Ohio sportsbooks will likely see a decline in activity. This has already reared its head, as April produced the lowest betting numbers since its launch in Ohio.
The decline is a constant across the sports betting landscape, with action picking back up around the start of the NFL season. The sports drought months will only slow things down momentarily, however. As this marks the first full NFL betting season available for Ohio residents, Ohio sports betting handle and revenue could break records here in a few months.
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