Ohio Becomes Fastest State to Hit $10 Billion in Lifetime Sports Betting Handle in April

Ohio Sports betting flexed its muscle again Friday. Wagering activity has remained strong during the 16 months of legalization as our best sports betting sites continue to enjoy double-digit monthly holds.

However, the biggest news from the Ohio Casino Control Commission's April revenue report is that Ohio sports betting apps and retail providers have combined to take in more than $10 billion since launch. Ohio became the fastest state to do so, bettering the Arizona sports betting scene, which accomplished that feat in 20 months. Ohio is the 12th state to eclipse a $10 billion lifetime handle.

As has become customary in the Ohio sports betting market, FanDuel was the top performer. In April, it was the most successful Ohio sports betting app in terms of handle, revenues, and hold rate. bet365 also made some news in the Buckeye State by coming in a solid third in the race to be Ohio’s most popular legal sports betting site.

$674.2 million April handle

Ohio’s sports betting apps and retail providers combined to accept $674.2 million in wagers in April. About 97.5% of that came from Ohio sports betting apps, while the brick-and-mortar casinos made up the remaining $3.1 million. Residents had plenty of Ohio sportsbook promos to take advantage of.

Ohio’s legal sports betting handle grew year-over-year by 29% from nearly $515.2 million in April 2023. It also declined as expected month-over-month, dropping 16.7% from an NCAA Basketball tournament-fueled period, producing $802.6 million in wagers in March.

Year-to-date handle numbers for the first third of 2024 are a tad disappointing. So far this year, Ohio bettors have spent $2.97 billion with Buckeye State providers, a 1.6% drop year over year.

$74.1 million in adjusted gross revenue

Ohio’s best sportsbooks reported a total of $74.1 million in adjusted gross sports betting revenue in April. That figure is a 15.9% year-over-year increase from $63.25 million in April 2023 and is nearly an identical percentage increase from the $63.8 million in revenues reported in March, despite over $125 million more being bet than in April.

Ohio sports betting apps were responsible for $72.8 million or about 98.5% of the state’s overall April revenue haul. Retail contributed the remaining revenues.

A slightly below 11% hold rate helped revenue grow, especially month over month, as the win rate in March was just 7.9%. Ohio sportsbooks have now reported a double-digit hold in 13 of 16 months of operation.

Tax contributions from Ohio sportsbooks to needy state and local coffers totaled $14.8 million from April’s adjusted revenue totals. Year-to-date, taxes paid by state providers stand at $63.9 million, $18.7 million better than through the first four months of 2023.

FanDuel dominates

FanDuel, once again, was the most popular Ohio sports betting site in the Ohio market. It led the way in terms of handle, revenues and hold rate. FanDuel Ohio made up $226.7 million of the state’s overall April handle, $34 million of the state’s adjusted gross revenue total, and boasted a state-best 14.2% win rate in April. You can check it out using our FanDuel promo code.

DraftKings Ohio finished second with $216.8 million in accepted bets in Ohio in April and $20.8 million in revenues off of a 9.6% hold. 

bet365 Ohio was perhaps the most shocking surprise of the Ohio legal sports betting April report. It finished third with a $48.9 million April handle and $5.1 million in revenues thanks to a 10.4% hold rate.

BetMGM Ohio was fourth, with $45.2 million in accepted bets in April and $3.9 million in revenues from an 8.6% hold. ESPN BET Ohio rounded out the top five with a $35.8 million April handle in Ohio and $3.3 million in winnings thanks to a 9.1% hold.

Caesars Sportsbook Ohio was sixth in terms of handle and seventh in terms of revenues. It took in $27.9 million in bets in April. Fanatics Sportsbook Ohio accepted $21.8 million in wagers in April and made $1.8 million in revenue. 

Hard Rock Bet Ohio was the only other Ohio sports betting app with $10 million in wagering activity in April and $1 million in revenue.