Ohio sports betting handle tops $1.01 billion in January

The amount surpasses January of the previous year by 24.6% and is also 5% higher than December 2024. However, it falls 9.3% short of the record set in January 2023, the first month of legal betting in Ohio.

Data published yesterday (4 March) by the Ohio Casino Control Commission shows $992.2 million was wagered online. Retail bets amounted to $19 million in January.

Turning to taxable revenue, the monthly total hit $81.1 million. This is 28.6% behind last year but 42% more than December’s haul. Ohio’s monthly revenue record of $209 million was also set in January 2023.

Of all revenue, $80.7 million came from online betting, with retail contributing $468,017.

As for hold, the monthly figure for Ohio in January stood at 8.02%.

FanDuel continues to lead in Ohio

FanDuel took top spot in the Ohio online market. The operator, partnered with Belterra Park, took $38.9 million in taxable revenue off $358.6 million of handle for a 10.85% hold.

DraftKings and Hollywood Toledo placed second with $22 million off $321.9 million for a 6.83% hold. Bet365 and the MLB’s Cleveland Guardians completed the top three, posting $6.3 million from $83 million, leaving a 7.59% hold.

Elsewhere, BetMGM and MGM Northfield Park took $4.1 million off $71.9 million, meaning a 5.7% hold. Fanatics and the NHL’s Columbus Blue Jackets were next with $3.5 million off $37.9 million for a hold of 9.23%.

ESPN Bet and Hollywood Columbus posted $2.3 million from a $35 million handle, leaving a 6.57% hold. Caesars and Scioto Downs was the only other partnership with revenue above $1 million, reporting $1.6 million off $33.7 million for a 4.75% hold.

In terms of retail, BetMGM and MGM Northfield Park led the way with $155,551 from just $353,841 in bets for an impressive hold of 43.96%. BetJack and Cleveland Park was the only other partnership of note, posting revenue of $134,773 from $2.3 million for a 5.74% hold.

Bouncing back from difficult December

January followed a tricky December for Ohio, which, like many other states, was impacted by customer-friendly sports results.

Taxable revenue in December topped $57.1 million, down 34.7% from the previous year and 51.2% lower than November. Handle, however, was 15.9% higher year-on-year at $963.2 million and only 5.9% less than the previous month.

Monthly hold in December was 5.93%.

FanDuel and Belterra Park were the online market leaders with $24 million in revenue off $336.7 million for a 7.13% hold. Only four retail operators were able to report any sort of positive revenue during the month.

Ohio considering another tax hike

News broke in February that operators could be facing another tax increase in Ohio.

In his final budget proposal rolled out on 3 February, Governor Mike DeWine said he wants to raise the legal sports betting tax on operators to 40%.

Should the state legislature agree, it would mark the second time since July 2023 that the tax was doubled. In 2023, DeWine pushed through a budget that hiked the tax from 10% to 20%. 

Should taxes rise to 40%, it would make Ohio the second-most expensive competitive market for wagering operators. New York has the highest tax rate at 51%.