Sportsbooks in Ohio reported more than $113 million in total revenue, their highest revenue mark since the launch of Ohio sports betting in January 2023 when they brought in over $210 million.
Total revenue crossed $1 billion as well, reaching that milestone and doing so in just 13 months. Eleven other states have also crossed $1 billion in sports betting revenue.
The overall handle eclipsed $810 million across the both retail and online sports betting sites, with the online sportsbooks in Ohio collecting $792 million in wagers. The 15 retail sportsbooks in Ohio collected just over $18 million in wagers and kept $2.5 million in revenue.
The state took in $22.6 million in tax revenue, adding to the over $187 million it collected in 2023.
Ohio sports betting trends
Online sportsbooks in Ohio have only generated nine-figure revenues in two months of the Ohio sports betting market being live: January 2023 and January 2024. March 2023 saw the third-highest revenue with $92 million, December 2023 saw the fourth-highest with $84 million, and February 2023 rounds out the top five revenue months with $80 million.
Ohio sports betting operators came out swinging to gain market share when Ohio sportsbooks launched last year, dropping an exorbitant promotional spend of nearly $320 million. January only saw $40 million expended on promotional expenses, with only five months outpacing that spend. For scale, Ohio online sportsbooks only invested just over $40 million in promotional endeavors throughout the entire summer months between June and August last year.
Best online sportsbooks in Ohio
FanDuel and DraftKings continue to reign supreme as top dogs in the Ohio sports betting market. FanDuel earned just under $53 million in revenue on a nearly $283 million handle. DraftKings was not too far behind with a $254 million handle and almost $34 million in revenue. These two powerhouses have enjoyed a stranglehold on the top two spots market wide. DraftKings has only surpassed FanDuel’s handle four times and its revenue just once though.
ESPN BET held onto third place for the third consecutive month, but both its handle and revenue declined month-over-month. It collected over $70 million in wagers in November and December respectively and earned $11.9 million and $8 million in revenue in those months. It still had a respectable January, however, hauling in just under $60 million in total handle with $4.6 million in revenue.
BetMGM and bet365 were just a tad behind ESPN BET in total handle and revenue for January to complete the top five options for Ohio bettors.
