Ohio sports betting operators generated more action but produced lower returns in December 2024 compared to the previous year and month.
Similar to October, bettors enjoyed a successful run by NFL favorites.
The Ohio Casino Control Commission reported a monthly handle of $964.4 million, a 16% year-over-year increase, but gross revenue of $55.5 million fell 36.3% from December 2023.
Compared to November, when the Buckeye State’s online and retail sportsbooks bounced back from a rough October behind an 11.4% win rate, revenue dipped 52.5% from a 5.8% hold on a handle that decreased 6%.
Still, it’s the first time since sports betting launched in January 2023 that Ohio operators have posted three consecutive months of at least $900 million wagered.
The Buckeye State filled its coffers with $11.4 million, down from November’s massive haul of $23.5 million.
Wrapping up 2024
Ohio’s second full year of sports betting yielded a higher handle but less revenue than the first.
Wagers in the Buckeye State reached nearly $8.9 million, a 16% year-over-year increase. Revenue was down almost 4% to $905 million as the 10.2% hold fell two points.
Operators paid out over $180 million in taxes to the state, which made $47 million more from sports betting revenue in 2024. It could be even higher in the future. Gov. Mike DeWine wants to double the 20% tax rate to 40%.
FanDuel produces monster yearly hold
| Operator | December Handle | Revenue |
|---|---|---|
| FanDuel | $336.7 million | $24 million |
| DraftKings | $308.5 million | $21.5 million |
| bet365 | $77.1 million | $4.3 million |
| BetMGM | $75.5 million | $2 million |
| Fanatics Sportsbook | $37.4 million | $2.4 million |
| Caesars | $32.2 million | $970K |
Ohio legal online sports betting accounted for $944 million of the total December handle and $56.6 million of the gross revenue. Mobile sportsbooks spent $26.9 million in promotional wagers, down from November’s $32.3 million.
FanDuel led all operators in December with a $336.7 million handle, down from the previous month’s $351.1 million. Revenue fell from $46.5 million to $24 million, but FanDuel ended 2024 with $377 million in gross revenue, thanks to a 12.9% hold.
DraftKings finished right behind its sportsbook rival with a $308.5 million handle, down about $20 million from the previous month. A hold below 7% generated $21.5 million in revenue, bringing the yearly profit total to just below $292 million.
bet365’s $77.1 million handle edged BetMGM’s $75.5 million for third place, but bet365’s 5.5% hold was double BetMGM’s, leading to a much more profitable December. Fanatics Sportsbook had a solid month, generating $2.4 million from a $37.4 million handle while Caesars produced a low win rate of 3% on a $32.2 million handle.
No profit
Not all sports betting operators in Ohio turned a profit in December. Prime Sports lost over $332,000, making it the third time in four months that the online operator wasn’t able to turn a profit. Betr was the second mobile sportsbook in Ohio to finish in the red after it fell $22,021 short of even.
Retail sports betting at casinos lost $1.1 million in December on a $19.2 million handle. Only four of the 14 brick-and-mortar shops turned a profit for the month. Only one finished November in the red.
