Residents in the Buckeye State came out the gate swinging with the new market. Ohio sportsbooks reported more than $1 billion in betting handle for January 2023, the first month of the Ohio sports betting market. This figure marks the biggest launch month for a sports betting market since New York in January 2022. Ohio is already proving to be a massive market.
Online Betting Dominates Ohio Market
Unsurprisingly, Ohio has seen an influx of activity from online sportsbooks. The total betting handle with both online and retail sportsbooks was $1.13 billion. Of that total, $1,090,265,212 came from mobile betting operators. It’s also 96.4% of the market in January.
FanDuel Sportsbook was the dominating operator during the month, with $494 million in wagers. DraftKings and BetMGM followed suit with $343 million and $82 million in bets respectively. Rounding out the top five were Barstool Sportsbook ($45 million in wagers) and Bet365 ($38 million in wagers). These numbers showcase how clear of a lead FanDuel has over the rest of the market.
Ohio Online Sportsbook Handle January 2023
- FanDuel: $494,194,388
- DraftKings: $343,971,125
- BetMGM: $82,120,011
- Barstool Sportsbook: $45,895,007
- Bet365: $38,627,894
- Caesars Sportsbook: $31,494,714
- Hard Rock Digital: $20,722,305
- Tipico: $10,695,776
- PointsBet Ohio: $7,470,293
- BetJack: $4,150,184
- BetFred: $3,963,720
- BetRivers: $2,720,687
- SuperBook: $1,994,900
- Betr: $1,094,015
- Digital Gaming Corporation: $782,343
- Gamewise: $203,467
Revenue Numbers Impress
Ohio sportsbooks have also seen major revenue figures in the first month as well. The report shows that sportsbooks combined for $208.93 million in taxable revenue. With the state taking 10% on revenue, Ohio saw $20.89 million in sports betting taxes.
FanDuel and DraftKings contributed the most to the revenue in Ohio. FanDuel reported $103.24 million in revenue while DraftKings saw $55.1 million. These operators dominated in both betting handle and revenue so far in the early weeks of the Ohio betting market.
These impressive tax numbers have led to lawmakers aiming to adjust the current 10% tax rate. Gov. Mike DeWine is already advocating for an increase in taxes. This proposal would bring the tax rate to 20% on all taxable revenue from sportsbooks.
Ohio’s impressive dominance shows that even new markets can rival already established sports betting industries. Time will tell if the state will continue to dominate in this regard.