Ohio sports betting made all sorts of headlines during its first year of operation.
Aside from being the sixth-largest betting market in the country, Ohio is also home to the most active sports betting NFL stadium, according to GeoComply.
The home of the Cincinnati Bengals, Paycor Stadium led the nation for in-stadium online sports betting in the 2023-24 NFL season.
Around 67,000 transactions, on average, were made during the team’s eight home games last season.
In-stadium transactions up 24% in 2024 playoffs
More than a year has passed since Ohio sports betting went live on Jan. 1, 2023. It established itself as the No. 6 market in total online betting volume in 2023 and continues to prove popular among bettors a month into 2024.
GeoComply’s data revealed Paycor Stadium as processing the most geolocation transactions in the 2023-24 NFL regular season. GeoComply considers each touchpoint as a transaction, meaning a person who logs in and places two sports wagers would generate three transactions.
Two other NFL stadiums rounded out the top three: the Arizona Cardinals’ State Farm Stadium (64,000 transactions per game) and the Philadelphia Eagles’ Lincoln Financial Field (61,000 transactions per game).
Sports betting transactions have increased since the 2024 playoffs began, too. According to data, stadium geolocation checks have increased by 24% from the regular season and are up 12% compared to the 2023 playoffs.
Last weekend’s conference championship games returned a 35% increase in transactions and a 13% increase in new user accounts compared to the previous year’s conference championship games.
Paycor finishes 3rd in new account creations during 2023-24 NFL season
The Washington Commanders’ FedEx Field led in new account creations during the 2023-24 NFL season, averaging 695 per game. Its Fanatics Sportsbook was the first in-stadium retail sportsbook in the nation.
Paycor Stadium finished third with an average of 374 new accounts per game. MetLife Stadium, home of the New York Giants and New York Jets, was second (438 new accounts).
All this information bodes well for the upcoming Super Bowl LVIII on Feb. 11 at Allegiant Stadium in Las Vegas. Last year’s big game drew more than 100 million geolocation checks across 23 US states and Washington, D.C.
Ohio ranked fifth among those states.
Are online casinos next for Ohio?
Ohio took longer to jump on the sports betting bandwagon than most states, but it made an impact almost immediately. Its $7.6 billion 2023 online sports betting handle was sixth in the US, generating $936.9 million in taxable revenue.
In fact, Ohio sports betting revenue was so successful that the state doubled the tax rate in July. When the year came to a close, Ohio collected more than $133 million in new sports betting taxes.
But sports betting only represents the tip of the proverbial iceberg of online gambling profits. Pennsylvania, Michigan and New Jersey can attest to that with legal online casino gambling.
- Michigan: $490.1 million in online casino taxes; $23.4 million in sports betting taxes
- Pennsylvania: $319.6 million in online casino taxes; $161.5 million in sports betting taxes
- New Jersey: $285.7 million in online casino taxes; $141.5 million in sports betting taxes
The Ohio Sports Gaming Study Commission has an upcoming hearing on Feb. 20, the first of four meetings this year. iGaming will be a primary subject of meetings all year long as the state looks for ways to expand the industry.
In the best-case scenario, state lawmakers figure out a plan to add online casinos in 2024 and introduce a bill in 2025. If passed, we could see Ohio online casinos come to fruition in 2026.
