Ohio has officially surpassed $4 billion in total legal sports betting handle since going live on January 1, joining New York, New Jersey, Illinois, and Nevada to reach that mark in 2023.
The Buckeye State took in $331 million in wagers for July to reach that milestone while gross revenue for the month reached $37.1 million, according to figures released by the Ohio Casino Control Commission.
The handle was down 8.6% month-over-month while profits were up 14.2% as revenue was greatly aided by the lowest number of promotions from sportsbooks, which totaled $10.7 million. That’s more than half the total of May (which exceeded $23 million), and down from the $14 million figure posted in June.
July's hold of 11.2% was up more than two points from June and went above 11% for the sixth time in the last seven months. Ohio’s 20% tax rate netted the state more than $7 million and put the year’s total number beyond $65 million.
DraftKings beats rival
Ohio sports betting saw online betting sites make up 96% of the total handle and nearly 97% of the revenue.
DraftKings found itself in first place in Ohio for the first time ever in mobile handle as the online sportsbook giant generated $116.2 million in wagers. Revenue wasn’t the best in the Buckeye State, but DraftKings still hauled in $11.8 million on a 10.2% hold.
FanDuel, which has owned Ohio in the past months, pulled in nearly $14.5 million in revenue behind an impressive 13.6% hold on the second-highest handle of $106.7 million. No other online operator came close to matching DraftKings and FanDuel, which made up 70% of the Ohio handle in July.
Bet365 edged out BetMGM in total handle by less than $600,000 after bet365 generated $23.5 million in wagers, but bet365’s $4 million in revenue eclipsed BetMGM by more than $1 million as both accomplished win rates of over 13%.
PointsBet, which will transition to “PointsBet, A Fanatics Experience” later this year, posted an impressive 11.7% hold on a handle of $2.3 million while Fanatics recorded a wild 20.5% win rate on a handle over $3 million.
Meanwhile, Bally Bet is set to return to the Ohio market with a new platform later this month.
Retail revenue skyrockets
The combined handle for retail sportsbooks dropped nearly $2 million month-over-month to $11.5 million in July. However, revenue more than doubled from June, reaching 1.2 million for the month.
Meanwhile, MGM Northfield Park was one of four brick-and-mortar sportsbooks to reach seven-figure handles as it took in a state-best $2.8 million in wagers and generated $377,314 in revenue.
Hard Rock Cincinnati, Hollywood Columbus, and Caesars Sportsbook at Rocket Mortgage FieldHouse also all surpassed $1 million in total handle.
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