Ohio’s sports betting industry brought in a whopping $1.1 billion in bets in January, the first month of legal sports betting in the state.
That figure ranked second nationally among states that have recorded January revenue, trailing only New York.
After paying out winnings and voided bets, Ohio sportsbooks brought in over $200 million in revenue in January.
With sports betting in Ohio only live since Jan. 1, the state’s first-monthly tally is impressive.
Ohio tops several established sports betting states in January handle
Topping New York in January handle was a pipe dream, but Ohio managed to surpass several big-time sports betting states during its first month of operation, according to figures released Feb. 28 by the Ohio Casino Control Commission.
Ohio’s $1.1 billion in handle was more than Nevada, New Jersey and Pennsylvania.
Top January 2023 handle by state:
- New York ($1.8 billion)
- Ohio ($1.1 billion)
- New Jersey ($1.08 billion)
- Nevada ($936.5 million)
- Pennsylvania ($772.3 million)
Illinois has not reported its January 2023 figures until next year, but in December it had $1.03 billion in handle. Illinois has never topped Ohio’s $1.1 billion in a single month.
Ohio online sportsbooks led the way in January revenue
Ohio’s total January sports betting revenue was $208,921,342. The vast majority of revenue came from Ohio’s 16 online sportsbooks, which reported revenue of $205.7 million in January. The state’s 14 retail sportsbooks added another $3.2 million.
Ohio January sports betting revenue:
- Ohio online sportsbooks: $205,694,761
- Ohio retail sportsbooks: $3,226,581
Using Ohio’s 10% sports betting tax rate, sportsbooks will pay over $20 million in taxes from that revenue to the state.
| Ohio Online Sportsbook | Handle | Revenue | Market Share % |
|---|---|---|---|
| FanDuel | $494,194,388 | $103,247,149 | 45.3 |
| DraftKings | $343,971,125 | $55,100,733 | 31.5 |
| BetMGM | $82,120,011 | $21,668,016 | 7.5 |
| Barstool | $45,895,007 | $5,409,080 | 4.2 |
| Bet365 | $38,627,894 | $8,430,180 | 3.5 |
| Caesars | $31,494,714 | $4,116,580 | 2.9 |
| Hard Rock | $20,722,305 | $3,469,671 | 1.9 |
| Tipico | $10,695,776 | $1,718,047 | 1.0 |
| PointsBet | $7,470,293 | $1,215,400 | 0.7 |
| betJACK | $4,150,184 | $407,071 | 0.4 |
| Betfred | $3,963,720 | $371,891 | 0.4 |
| BetRivers | $2,885,070 | $149,100 | 0.3 |
| SuperBook | $1,994,900 | $207,163 | 0.2 |
| Betr | $1,094,015 | $106,439 | 0.1 |
| Betway | $782,343 | $87,870 | 0.07 |
| MVGBet | $203,467 | 0 | 0.02 |
| $1,090,265,212 | $205,694,761 |
Ohio’s sports betting industry got off to a fast start
There were signs in January that Ohio’s sports betting industry had hit the ground running.
During launch weekend, Ohio saw more geolocated transactions than any other state in the U.S., including New York.
These transactions are tracked by internet security company GeoComply, which verifies user locations before allowing bets to be placed.
The momentum continued during the Cincinnati Bengals’ deep playoff run, including a Divisional matchup against the Buffalo Bills that saw more geolocated transactions in Ohio than New York during the day of the game. Ohio also had the most active sportsbook accounts in the U.S. during the Super Bowl, despite the fact that the Bengals fell short of a second-consecutive appearance.
By the end of January, over 2 million sports betting accounts had been created in Ohio, according to GeoComply.
January Ohio sports betting figures buoyed by NFL playoffs, bonus offers
Ohio sportsbooks offered dozens of prelaunch sign-up offers and bonuses leading up to the state’s Jan. 1 launch, and many continued into January.
In addition, the NFL playoffs kept Ohio bettors engaged, and Ohio sportsbooks continued to roll out new promos like “no-brainer” bets and odds boosts for customers new to sports betting.
Looking ahead to February, Ohio should be in another good place when it comes to revenue. Super Bowl LVII came at the perfect time for Ohio bettors to test out their sportsbooks during the biggest betting event of the year just over one month in.
According to PlayOhio projections, Ohio sports betting could generate $8 billion in bets in 2023, ranking among the biggest markets in the U.S. as soon as 2023.
