The sports betting industry in Ohio has been one of the most prolific legal markets in the US since its inception in January 2023.
Sportsbooks in Ohio reached $10 billion in total wagers faster than any other market, reaching that lifetime handle milestone in April just 16 months after the legal market launched.
Despite the summer months being a lull for sports betting numbers, the Ohio Casino Control Commission (OCCC) still reported a $529.8 million handle in June.
Out of the states that have reported June figures, Ohio ranks only behind New York and New Jersey, while Massachusetts rounded out the Top 4 in terms of monthly handle, making these four states the only markets to eclipse half a billion in total wagering activity.
Governor Mike DeWine adjusted the sports wagering tax rate to 20% last year, and that helped state coffers collect nearly $10.3 million in taxes in June.
On the right track
Ohio sports betting operators generated $51.3 million in adjusted gross revenue on a statewide hold of just under 9.7%. Although it's the lowest revenue mark in 2024, it still marks a 56.8% boost year-over-year. Revenue has impressively surpassed $50 million in 15 out of the 18 months of sports betting in Ohio.
June’s handle also presented a 46.1% year-over-year increase while snapping a nine-month streak of $600+ million handle performances in Ohio. Revenue declined 24% month-over-month and handle dropped 13.4% from May, but June’s YoY growth metrics outpaced May’s YoY improvements.
Best Ohio sportsbooks in June
Online sportsbooks in Ohio accounted for 97% of all wagers in June for a $516.1 million combined handle. Online operators nabbed $50.5 million in revenue from that action, good for a 9.78% hold.
Retail collected $13.7 million in wagers but only managed a 5.75% hold, generating just $787,894 in revenue. FanDuel topped $20 million in revenue for the tenth consecutive month, while DraftKings sat atop the leaderboard for monthly handle for the third straight month.
|
Operator |
June Handle |
Revenue |
|
DraftKings |
$181.2 million |
$15.3 million |
|
FanDuel |
$159.4 million |
$22.7 million |
|
bet365 |
$51.97 million |
$4.58 million |
|
BetMGM |
$34.4 million |
$2.48 million |
|
Caesars |
$27.7 million |
$717,000 |
|
ESPN BET |
$19.93 million |
$1.75 million |
|
Fanatics |
$17.8 million |
$1.38 million |
|
BetJack |
$3.319 million |
$259,374 |
|
Tipico |
$3.315 million |
$355,625 |
|
Rush Street Interactive |
$3.23 million |
$142,470 |
|
Prime Sports |
$1.56 million |
$66,804 |
|
Bally’s |
$1.45 million |
$63,539 |
Changes to Ohio sportsbooks
2024 has been a momentous year for Ohio sports betting. There were 19 active online sportsbooks in June, and six of those didn’t even cross $1 million in handle.
One of those six was Betfred, which will stop taking wagers after August 14. Betfred ranks 14th in year-to-date handle with just $3.4 million, accounting for a paltry 0.08% of the market in May.
Betfred brought in $453,912 in wagers in June, while Superbook — another sportsbook exiting the Ohio sports betting market — was just shy of that number by about $2,000.
Meanwhile, bet365 has gained the most market share out of all the Ohio sportsbooks in 2024, increasing its stake in the game by 3.4%.
Notable Ohio sports betting Revenue market share % increases and decreases from January to June
— Ryan Butler (@ButlerBets) August 1, 2024
bet365: 3.4% increase
Fanatics: 1.2% increase
Hard Rock: 0.5% increase
ESPN Bet: 0.7% decrease
Caesars: 0.8% decrease
FanDuel: 3% decrease
