Ohio Sports Betting Revenue Exceeds $100 Million For The 2nd Time

Written By Hill Kerby on March 1, 2024
A picture of rising revenues for a story about Ohio's increased sports betting numbers in January.

A year ago, Ohio sportsbooks took the world by storm with more than $1.1 billion in wagers during their first month of operation.

That volume was unsustainable, especially since a good chunk of the January 2023 volume was driven by promotional spending in a new market. 

But Ohio sports betting remained strong in 2024. Online sports betting handle totaled $792.1 million in January, which resulted in $110.7 million in taxable revenue, according to data from the Ohio Casino Control Commission,

As a result, handle dropped by 27.4% year-over-year and 2.1% from the $809.7 million wagered in December. It was the fourth-highest handle in Ohio sports betting history.

Taxable revenue dropped by 46.5% YoY but increased by 31% MoM. It was the second-highest total in state history and marked the only time besides January 2023 with a total above $100 million.

FanDuel remains top Ohio sportsbook for third straight month

As you might expect, FanDuel Ohio and DraftKings Ohio sit head and shoulders above their competition, holding the top two spots in total betting volume by a wide margin.

FanDuel came out of the gate strong, taking the highest market share for the first six months of 2023. DraftKings overtook that spot for a four-month stint between July and October before FanDuel reclaimed it in November.

And it hasn’t looked back since.

According to the OCCC’s report, FanDuel’s $284.7 million handle edged out DraftKings by 12% and took a 35.7% market share. DraftKings, which accepted $254.2 million in wagers, cornered 32.1% of the market.

The two accounted for more than two-thirds of wagers and three-quarters of sports betting revenue in Ohio in January.

ESPN Bet Ohio ($59.8 million handle) remained in third, and bet365 Ohio ($50 million handle) edged out BetMGM Ohio ($49.7 million handle) by less than $1 million for the second month in a row.

SportsbookJanuary HandleTaxable Revenue
FanDuel$282,737,354 $52,991,707
DraftKings$254,240,443 $33,993,789
ESPN BET$59,834,984 $4,641,163
bet365$50,048,412 $6,279,750
BetMGM$49,689,694 $5,887,807
Caesars$35,476,004 $2,476,195
Fanatics$15,737,934 $1,703,890
Hard Rock$11,009,384 $883,113
Prime$9,703,293 N/A
Tipico$5,884,543 $781,429
betJACK$5,535,611 $461,691
PointsBet$5,024,956 $299,891
Bally's$2,730,393 N/A
Betway$1,313,030 $140,039
Betfred$803,872 $30,533
betPARX$765,580 $41,973
SuperBook$736,837 $3,619
Betr$433,861 $60,326
MVGBet$355,019 $30,818
TOTALS$792,061,204 $110,707,733

$19.5 million more wagered at retail and kiosks

Ohio sports bettors wagered $18.4 million at the state’s 15 retail sportsbooks. Three properties had handles above $2 million: Hollywood Columbus ($3 million), JACK Cleveland ($2.5 million) and Hollywood Gaming at Dayton Raceway ($2 million). 

Furthermore, retail wagers added another $2.5 million in taxable revenue.

Much smaller in scale, the state’s 848 sports betting kiosks accepted almost $1.2 million in wagers in January and grossed $212,879 in taxable revenue.

How will 2024 shape up?

Nobody expected January 2024’s sports betting figures to increase from last year’s launch. Ohio had the second-highest handle in the US in January 2023 and eventually regressed to the mean, finishing the year in sixth.

Other states’ numbers will be posted in the coming weeks, but Ohio’s $792.1 million handle sets reasonable expectations to remain in sixth place overall, at a minimum.

The five markets above Ohio in 2023 have richer gambling histories and/or larger populations than Ohio.

  • New York (population)
  • New Jersey (gambling)
  • Illinois (population)
  • Nevada (gambling)
  • Pennsylvania (population)

All five have more mature sports betting markets, too.

But that could work in Ohio’s favor, as it could have more room for growth. Despite the above edges, Ohio came within an arm’s reach of surpassing Nevada and Pennsylvania.

If things go according to plan, Ohio will remain a formidable competitor and crack into the top five. With even more success, it could jump two spots and finish the year as the fourth-largest market nationwide.

Photo by PlayOhio
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Hill Kerby

Hill Kerby is a proponent of safe, legal betting, and is grateful to be able to contribute to growing the industry. He has a background in poker, sports, and psychology, all of which he incorporates into his writing.

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