Ohio Sportsbooks See Slight Decline To $446 Million In May Bets

Written By Brian Cross on June 30, 2023 - Last Updated on July 5, 2023
Ohio Sports Betting May 2023 Revenue

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.

FanDuel Sportsbook and DraftKings Ohio each slightly increased their market share last month and combined for 68.6% of the total handle.

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.

SportsbookMay HandleMarket ShareMay Revenue
Hard Rock$7,907,0281.8%$481,621

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.

Hollywood ColumbusBarstool3,264,246359,575
MGM Northfield ParkBetMGM2,145,196191,748
Hard Rock CincinnatiHard Rock1,556,260303,975
Hollywood DaytonBarstool1,326,613138,252
JACK ClevelandBetJACK1,267,227264,118
JACK ThistledownBetJACK1,074,704110,066
Hollywood Mahoning ValleyBarstoon1,048,325154,493
Cleveland CavaliersCaesars1,201,175110,238
Scioto DownsCaesars974,698-41,720
Hollywood ToledoBarsool887,117146,703
Miami Valley GamingMVGBet409,44078,763
Belterra ParkFanDuel341,66749,903
Cincinnati RedsBetMGM63,28922,956
FC CincinnatiSuperBook10,0611,593
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Brian Cross

Brian Cross contributes sports betting, casino and lottery coverage to PlayOhio and PlayPennsylvania. Brian studied Professional Writing and Journalism at the University of Cincinnati and has been a contributing writer at Cincinnati’s alt-weekly for over 10 years.

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