Legal online Ohio sports betting continued to grow during the month of the Super Bowl.
The Ohio Casino Control Commission reported a February handle of $760.9 million, a 13.2% increase from the $672 million wagered in the previous year. The latest handle was also up 19% from February 2023.
A 9.9% hold bested the previous year’s win rate by two points to produce 13.4% more revenue. Operator-friendly results from the Philadelphia Eagles’ win over the Kansas City Chiefs in Super Bowl LIX helped Ohio sportsbooks haul in $75.3 million, the second-most February revenue behind 2023’s $82.9 million.
Online sports betting accounted for $748.4 million of the total handle and all but the $385,791 revenue produced by retail operators. Promotional spending fell from $36.5 million in January to $26.8 million in February.
The Buckeye State filled its coffers with $15.1 million from the 20% tax rate on sports betting operators.
Stellar start to 2025
Despite a 24.8% month-over-month decrease in handle, operators made only $5 million less in revenue during February compared to January, thanks to a two-point hold increase.
Combining the final two months of the football season, Ohio sportsbooks have generated $1.77 billion in bets, a nearly 20% increase from the same period in 2024. January and February have produced over $155 million in operator revenue.
DraftKings holds off FanDuel
| Online Operator | February Handle | Revenue |
|---|---|---|
| DraftKings | $247.9 million | $23.4 million |
| FanDuel | $247.5 million | $36.5 million |
| bet365 | $69.8 million | $6.3 million |
| BetMGM | $59.1 million | $2.2 million |
| Fanatics Sportsbook | $31.3 million | $2.6 million |
| Caesars | $30.8 million | $1.5 million |
DraftKings edged FanDuel by less than $500,000 to claim the top spot in handle. DraftKings generated $247.9 million in wagers during February, nearly $75 million less than January’s handle.
FanDuel, which endured a $111 million dropoff from the previous month, did record a 14.7% hold that led to $36.5 million in revenue, the highest in the state for February. DraftKings’ win rate was below 10%.
bet365 finished in third with a $69.8 million handle and $6.3 million in revenue, while BetMGM’s $59.1 million handle was nearly $28 million more than fifth-place Fanatics Sportsbook, which produced more revenue than BetMGM.
Caesars edged ESPN BET in handle by $260,000 and recorded a higher revenue of $1.5 million. No online operator finished February in the red after two (Betr and Prime Sports) failed to make money in January.
Going after prediction platforms
Ohio has joined a growing number of U.S. states that are taking action against prediction market platforms. Buckeye State regulators sent cease-and-desist orders to Kalshi, Robinhood, and Crypto.com this week.
The OCCC determined that the sports-event contracts those companies offer are a form of sports betting, and they must have a license to operate.
“The only difference is that these event contracts do not have the consumer protections required under Ohio law and are accessible to Ohioans under 21 years of age,” OCCC executive director Matthew Shuler said in a press release. “The Commission must take action to fulfill its statutory responsibilities and ensure the integrity of sports gaming in Ohio.”
Nevada and New Jersey recently sent cease-and-desist notices to Kalshi, which filed a lawsuit against both states, claiming its platform is federally regulated.
