Last updated: November 04, 2024
Ohio’s sports betting market reached a year-high of $863 million in September, marking a 25% increase from last year and 57.5% from August. Online bets dominated, contributing $842.4 million, while retail sportsbooks added $20.7 million. Taxable revenue also soared, hitting $106.2 million, with FanDuel and DraftKings leading the market. Despite DraftKings processing more bets, FanDuel led in revenue. September’s handle and revenue figures position Ohio as one of the top-performing sports betting states in 2023.
Ohio’s sports betting market set a new high for the year in September, with players wagering a total of $863 million (approx. £668.9 million/€794.5 million). This represents the highest monthly total for 2023 and the largest since November last year. According to the Ohio Casino Control Commission, the September handle increased by 25% compared to the same month in 2022 and 57.5% compared to August. This makes it the third-highest monthly total on record for Ohio, just behind November 2023’s $864.2 million and the $1.11 billion seen in the market’s launch month, January 2023.
Breaking down the numbers, internet betting led the way with $842.4 million, while in-store sportsbooks accounted for only $20.7 million. Taxable sports bet revenue grew by 29.8% from last year in September and 117.6% from August to stand at $106.2 million. As such, it stands as the third highest single-month total since January of this year at $113.8 million but a far cry from the all-time high of $208.5 million January last year.
Online sports betting generated $102.9 million in revenue out of the total, and retail locations accounted for $3.2 million. The state-wide hold percentage was 11.92%, meaning Ohio players managed to win back approximately $751.1 million in winnings.
The competition still remains neck and neck, with DraftKings holding more bets but FanDuel making more revenue. FanDuel, together with Belterra Park, made a revenue of $39.1 million based on $276 million placed bets with a hold rate at 14.17%. DraftKings, at Hollywood Toledo, made revenues of $37.5 million based on $308.7 million placed bets with a hold of 12.15%.
Next came the bet365 joined together with Cleveland Guardians in terms of revenue since it was possible to draw out $7.7 million out of a total of $68 million worth of bets while accounting for 11.32%. BetMGM and MGM Northfield Park collected a handle of $52.4 million, producing a revenue of $5.6 million while accounting for 10.69%. The last of the top five is Fanatics, partnered with the Columbus Blue Jackets, which reported $3.6 million in revenue from $35.6 million in bets, giving them a hold of 10.11%.
In the retail wagering segment, Hollywood Columbus led with $504,432 in revenue off of a $2.9 million handle, earning a hold of 17.43%. Hard Rock Cincinnati and Seminole Hard Rock Digital came in next with $468,440 in revenue off of $2.4 million, but boasted a higher hold of 19.36%. MGM Northfield Park took the most retail wagers at $3.9 million but finished third with $468,256 in revenue and a hold of 12.12%.
The successful runs in September reflect Ohio’s increasingly popular sports betting, as top operators like FanDuel and DraftKings play a key role in the market.
