A high volume of major sports is equaling a high volume of legal sports betting in the Buckeye State.
The Ohio Casino Control Commission reported on Thursday an October handle of $746.3 million, the second largest amount wagered in the state’s 10-month history. Only January, the first month, posted a higher handle.
With the NFL and college football coinciding with the NHL, NBA, and MLB playoffs, October’s handle jumped 8.1%. Profits, however, didn’t follow the same trajectory.
Ohio online and retail sportsbooks recorded gross revenue of $80.2 million, down 1.8% from September. While operators, which gave out $38.6 million in promotional credits, couldn’t capitalize on the increased wagering dollars, they still kept the 10-month streak of a double-digit hold alive with a 10.7% win rate, down about a point from the previous month.
And Ohio got a full taste of what a stacked sports menu can bring in a state that’s generated nearly $780 million of taxable revenue this year.
The Buckeye State hauled in $16.1 million in October, about $227,000 less than the previous month.
Slim victory for DraftKings
Online Ohio sports betting made up 97% of the total handle for October.
DraftKings led Ohio with a handle of $258.7 million, but it was less than $60,000 more than FanDuel, which brought in $258.6 million in the amount wagered. In September, DraftKings won the battle by more than $50 million.
FanDuel did win the revenue battle, grossing $31.6 million total and $2.3 million more than its rival, thanks to a 12.2 hold.
With a handle of $45.7 million, bet365 edged BetMGM’s handle of $45.4 for third in another close battle.
Caesars and Barstool Sportsbook, which transitioned to ESPN BET earlier this month, were the other two online operators out of 20 total in Ohio to surpass $20 million handle in October.
Retail handle holds steady
Retail sports betting handle came in at just over $22 million for the second consecutive month. After having 10 of the 14 brick-and-mortar shops reach $1 million handle in September, that number fell to eight in the following month.
Hollywood Columbus led all retail sportsbooks with a handle of $4.2 million, the second consecutive month of more than $4 million.
Jack Cleveland, Jack Thistledown, and MGM Northfield Park all reached $2 million for the month in the amounts wagered.
