Ohio’s sports betting revenue stays robust despite lower promotional spend, indicating a positive trend for market profitability and shareholder returns.

Of the $810 million handle in 2023, more than $792 million was wagered online. The state’s 15 retail sportsbooks saw $18.3 million in wagers during the month and showed revenue of $2.5 million.

Online wagering showed a profit of $110.6 million, so the hold was pretty similar. Online wagering showed a hold of 13.96%, and retail sportsbooks were at 13.73%.

The top three retail sportsbooks also offer casino games and slot games, so bettors get the full array of gambling opportunities.

As expected, when it came to online wagers, DraftKings and FanDuel were the two at the top of the mountain. FanDuel received $282.7 million in wagers and showed revenue of $52.9 million. DraftKings reported $33.9 million in revenue on $254.2 million in wagers. The two sportsbooks accounted for roughly 78% of the Ohio sports betting revenue from online betting.

The second tier of online sportsbooks includes Bet365, ESPN Bet, and BetMGM. Each sportsbook took in between $59.8 million and $49.6 million in wagers during the month. Bet365 reported the highest revenue of the three, at $6.2 million. ESPN Bet had the smallest revenue and added $4.6 million to the month’s Ohio sports betting revenue fund.

https://5star.media/2024/03/08/ohio-gaming-revenue-tops-800-million-in-january/