For the first time in the short history of Ohio sports betting, FanDuel lost the top spot for monthly volume. DraftKings overtook the Flutter-owned sportsbook in July.
According to numbers released by the Ohio Casino Control Commission, DraftKings handled just shy of $116.2 million in sports bets. The Boston-based sports betting giant edged out FanDuel by less than $10 million, with FanDuel accepting $106.7 million worth of wagers.
Ohio online sports betting launched in January. Nobody recorded a higher monthly handle than FanDuel through the first six months.
However, FanDuel and DraftKings were always the two most popular sportsbooks in the Buckeye State. In July, they combined for $222.7 million of the state’s $319.6 million total online handle.
On the other hand, FanDuel was still the most profitable sportsbook. Despite the smaller handle, FanDuel Sportsbook Ohio reported $13.9 million in revenue compared to the $11.8 million reported by DraftKings Sportsbook Ohio.
Hold percentage up from June, but continues overall decline
Ohio sportsbooks reported revenue of $37.1 million from a total of $331.1 million in wagers. That equates to an 11.2% hold percentage.
That’s an increase from June’s $32.5 million in revenue and 9% hold. However, it’s still the second-lowest handle on record.
In other words, Ohio sports bettors are winning more of their bets.
| Month | Handle | Revenue | Hold |
|---|---|---|---|
| January | $1,113,333,384 | $209,231,932 | 18.8% |
| February | $638,822,124 | $80,922,311 | 12.7% |
| March | $737,226,885 | $95,142,881 | 12.9% |
| April | $520,576,451 | $63,694,300 | 12.2% |
| May | $446,241,376 | $57,828,887 | 13% |
| June | $362,111,919 | $32,559,655 | 9% |
| July | $331,083,998 | $37,094,807 | 11.2% |
| Total | $4,149,396,137 | $576,474,773 | 13.9% |
Bet365 holds third spot, stays ahead of BetMGM and Caesars
FanDuel and DraftKings usually dominate the U.S. sports betting landscape. But there was always a clear second tier, with BetMGM and Caesars Sportsbook as a distant third and fourth.
But in recent months, European betting giant Bet365 made serious inroads in the U.S. Bet365 Sportsbook Ohio sponsors the retail sportsbook at the home field of the Cleveland Guardians.
In June, it jumped BetMGM and was the third-largest sportsbook in Ohio. It held that spot in July as bettors wagered $23.5 million with the UK-based sportsbook.
BetMGM Sportsbook Ohio reported a July handle of $22.9 million and Caesars Sportsbook Ohio was fifth with $17.7 million.
Retail betting revenue pales in comparison to online sports betting
While Ohio’s online sportsbooks saw nearly $320 million in July sports wagers, its brick-and-mortar counterparts handled just a tiny fraction of that.
The state’s 14 retail sportsbooks handled $11.5 million in sports bets. They reported revenue of $1.2 million.
The two Caesars-branded sportsbooks at Scioto Downs and at Rocket Mortgage Fieldhouse, home of the Cleveland Cavaliers, both reported net losses.
Ohio sports bettors wagered $331.1 million between online and retail, with operators netting $37.1 million in revenue.
| Month | Online Revenue | Retail Revenue | Total Taxable Revenue |
|---|---|---|---|
| January | $206,101,561 | $3,506,071 | $209,607,632 |
| February | $80,114,817 | $940,380 | $81,055,197 |
| March | $92,002,730 | $2,852,580 | $94,855,310 |
| April | $61,834,221 | $1,496,659 | $63,330,880 |
| May | $55,949,214 | $1,932,383 | $57,881,597 |
| June | $32,019,834 | $689,028 | $32,708,862 |
| July | $35,873,901 | $1,235,196 | $37,109,097 |
| YTD | $563,896,278 | $12,652,297 | $576,548,575 |
Promotional spending continued to decline, with operators spending $10.7 million in July on Ohio sportsbook promos. The figure represents the least amount operators have spent since January’s launch and continues the downward trend.
However, that number could increase with the NFL season starting next week. Operators could use the popularity of football season to attract new bettors to their platforms.
