Ohio sports betting handle came in at $446 million in May, a 15% decline from April after falling 30% from March to April.
Revenue, however, did not fall quite as much. Sportsbooks did better overall with the handle they took in, making $57.8 million. That’s just a 9% drop from April’s $63.7 million.
Ohio sports betting has entered a summer slow down, but Major League Baseball and other sports will keep betting handle from dipping too low. Handle and revenue numbers should spike when the biggest betting sport – NFL football – returns in the fall. This trend is standard across all U.S states with legal sports betting.
Ohio pushing $3.5 billion in YTD handle
Through their first five months, Ohio sportsbooks have taken just under $3.5 billion in bets.
Bet365 Sportsbook jumped up to the third rank for market share, passing BetMGM OH in May handle. Both books spent heavily on promotions in May, with bet365 tallying almost $3.8 million in promos and BetMGM $3.2 million.
That has been a trend for Bet365, which kept its promotional spending high through March, while the others were dialing promo spending back. The company spent more than any other sportsbook that month, almost $17 million. That was nearly double the spending of FanDuel and DraftKings.
|Sportsbook||May Handle||Market Share||May Revenue|
Ohio retail sportsbooks increase handle over April
Ohio’s brick-and-mortar retail sportsbooks were not part of the dip in May handle. They actually took more money in bets in May than in April – $15.6 million vs. $14.9 million.
However, the retail sportsbooks only make up about 3.5% of the overall market (3.34% of the revenue in May).
The Barstool Sportsbook at Hollywood Casino Columbus clearly led the pack with nearly $3.3 million in betting volume and $360,000 in revenue. The BetMGM retail book at MGM Northfield Park also stood out with over $2.1 million in handle and over $191,000 in revenue.
The BetMGM location at the Cincinnati Reds’ Great American Ball Park has not benefitted greatly from Major League Baseball being in action. The sportsbook located inside GABP only took $63,00o in May bets.
Perhaps unsurprisingly, the team and sportsbook announced that the facility will be moving to a new location across the street from the stadium and within a busy entertainment district.
|MGM Northfield Park||BetMGM||2,145,196||191,748|
|Hard Rock Cincinnati||Hard Rock||1,556,260||303,975|
|Hollywood Mahoning Valley||Barstoon||1,048,325||154,493|
|Miami Valley Gaming||MVGBet||409,440||78,763|