August Betting Revenue in Ohio Sees Sharp Decline
While the Ohio sports betting market demonstrated robust growth in August, its revenue dipped significantly.
Ohio recorded its lowest monthly taxable revenue in August.
LISTEN TO THIS ARTICLE:As published by the Ohio Casino Control Commission, the state betting operators reported a sports betting handle of $547.9 million in August. The figure is 44.6% ahead of last year and 14.9% more than July 2024.
Of the total, online betting generated $539.9 million, while retail bets contributed the remaining $13.0 million.
However, despite the impressive handle, the state recorded its lowest monthly taxable revenue in August. At $48.8 million, the revenue fell below July's $55.3 million by 8.8%, but it increased by 19.6% compared to August 2023.
While online sports betting accounted for $46.6 million of the revenue, earnings from retail sportsbooks reached $2.0 million. Year-to-date, the state has generated $541.5 million in total taxable revenue.
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FanDuel and DraftKings Justle for Top Spot
Regarding individual operators, FanDuel and DraftKings remained neck and neck in August's Ohio sports betting market.
FanDuel managed to acheive a slim lead in online sports betting in the month with a taxable revenue of $16.9 million off a $165.7 million handle, reflecting a 10.20% hold.
DraftKings followed closely with $16.7 million copies in online revenue from a higher handle of $178.8 million. The operator's hold was 9.34%.
Bet365 was third with a $4.0 million revenue off a $59.4 million handle and a 6.73% hold. BetMGM followed with $2.3 million in revenue from a $38.2 million handle and a 6.02% hold. ESPN Bet secured $1.9 million in revenue from a handle of $19.7 million and a 9.64% hold.
In the retail sector, Hollywood Gaming at Dayton Raceway maintained the lead in August with a revenue of $377,810 off a $1.4 million handle and a 27.4% hold.
Seminole Hard Rock Digital earned $363,549 from total player bets of $1.4 million, indicating a 27.4% hold.
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