Ohio recorded its lowest monthly legal sports betting handle to date, and with it came its lowest revenue as well.
Buckeye State bettors wagered $520.6 million in April, according to figures released by the Ohio Casino Control Commission on Wednesday. The April handle from retail and online sports betting sites was down 29% from March’s $738.6 million, and 18% lower than February.
April revenue also slipped 33% month-over-month to $63.7 million, which was also down 23% from February.
Ohio, which went live with legal sports betting on Jan. 1, hasn’t come close to that whopping $1.1 billion in handle in the first month. Without college basketball or pro football, though, the Buckeye State got its first taste of one of the slower sports betting times of the year.
The April hold of 12.2% marked the best month bettors have posted as well, but it was still the fourth consecutive double-digit win rate for operators.
The Buckeye State hauled in $6.4 million in taxes.
Ohio did become one of five states to top $3 billion in handle for the year, but the state slipped two spots from the previous month to sixth in highest total wagers reported for April behind New York, New Jersey, Nevada, Massachusetts, and Pennsylvania.
Online sites combine for 12.3% hold
Online sports betting in Ohio accounted for $505.6 million in handle and $62.2 million in revenue, with a hold of 12.3%. Promotional offerings in the Buckeye State from mobile operators fell from $44.4 million to $24.2 million month-over-month.
FanDuel remained the top dog among online sites, but the sportsbook giant saw its handle plummet 26% month-over-month to $184.6 million. Revenue fell nearly $10 million from March to $28 million in April, but FanDuel still held an impressive 15.6% hold, which was up from March’s 14.4%.
DraftKings was second with a revenue of $17.2 million on a handle of $161.3 million in April. BetMGM posted the third-highest handle at $38.1 million, and bet365 posted higher revenue ($5.1 million to $4.6 million) on a lesser handle of $36.9 million.
Hollywood Columbus ($2.99 million) and Hard Rock Cincinnati ($2.82 million) were neck-and-neck in retail handle, but Hard Rock outperformed Hollywood $395,504 to $69,113 in revenue.
