Legal sports betting in Ohio continued its momentum in February, following January’s record-setting debut with another successful showing.
Ohio sportsbooks netted $82.8 million in revenue last month, according to March 31 data from the Ohio Casino Control Commission. The state’s 17 online sportsbooks reported $81.9 million, or 99%, of the monthly revenue.
Second month of legal sports betting in Ohio proves strong
January’s $208.9 million in revenue is an all-time monthly high in the United States. Legal sports betting in Ohio went live on Jan. 1, 2023.
Sports bettors in Ohio placed bets totaling slightly more than $638.2 million in February, down 42.6% from the previous month. In two months, more than $1.75 billion has been legally wagered on sports in Ohio.
Although a post-Super Bowl decline in sports betting activity is typical, Ohio’s nascent market trailed only New York and New Jersey in February handle (amount gambled) of the states who have already reported. February’s strong results support PlayOhio’s forecast of a top-five national market with nearly $10 billion in legal bets in 2023.
Ohio sportsbooks bring $29.1 million in taxes to the state in two months
The state’s sports betting revenue tax generated just over $8.3 million in February. Through the first two months of 2023, sports gambling has added $29.1 million to state coffers.
Ohio’s online sportsbooks account for the majority of both statewide handle and revenue. More than $621.1 million of the total amount bet in February was online, according to the state data. Almost 97% of all the money legally bet on sports in Ohio has been done using an online sportsbook.
FanDuel (37.47%) and DraftKings (34.46%) reported the highest monthly handle in February. The country’s two largest online sportsbooks accounted for 77% of Ohio’s digital revenue last month.
Ohio online sportsbook handle, revenue and market share: February 2023
| Online Sportsbook | Handle | Revenue | Market Share |
|---|---|---|---|
| FanDuel | $232,754,873 | $38,338,318 | 37.5% |
| DraftKings | $214,018,544 | $24,490,205 | 34.5% |
| BetMGM | $46,131,922 | $5,142,537 | 7.4% |
| Bet365 | $30,989,095 | $4,523,232 | 5.0% |
| Caesars | $28,445,730 | $3,796,744 | 4.5% |
| Barstool | $28,094,903 | $1,652,037 | 4.5% |
| Hard Rock | $12,404,978 | $1,329,756 | 2.0% |
| Tipico | $8,075,477 | $1,012,993 | 1.3% |
| PointsBet | $5,248,144 | $542,130 | 0.8% |
| BetRivers | $4,609,328 | $38,682 | 0.7% |
| betJACK | $3,021,375 | $378,377 | 0.5% |
| Betfred | $2,869,950 | $233,894 | 0.5% |
| SuperBook | $1,959,656 | $215,649 | 0.3% |
| Betway | $934,336 | $102,620 | 0.2% |
| Betr | $725,918 | $60,817 | 0.1% |
| betPARX | $103,083 | $29,809 | 0.02% |
| MVGBet | $103,083 | $29,809 | 0.02% |
| $621,111,765 | $81,914,927 | 100% |
