Ohio Sees 46% Increase in Year-Over-Year Sports Betting Handle

The Ohio sports betting scene is even hotter than the scorching temperatures that have defined the Summer of 2024.

According to the Ohio Casino Control Commission and Ohio Lottery June report, bettors in the Buckeye State spent a total of $530.6 million in June, down 13.4% from May (which was expected due to seasonality) but up more than 46% over the same span a year ago. 

And though the June result ended a streak of nine straight months in which Ohio sports betting providers combined for over $600 million in monthly bets, it made the Buckeye State one of only four regions in the U.S. to cross the $500 million threshold for the month.

Ohio’s best sportsbooks, despite an expected summer month-over-month dip in handle and revenues, have been able to maintain steady growth since launching in March 2023.

Year-to-date, the Ohio sportsbook handle stood at $4.1 billion after June, which is a $300 million improvement from the wagering activity through the first six months of 2023. Ohio sports betting apps have accounted for 97% of all bets accepted in the Ohio market in 2024.

The hot start to the year portends well for operators in the state, who are expected to see a flood of new bettors flock to scoop up as many Ohio sportsbook promos as they can prior to the start of the NFL and NCAA football seasons.

June revenue totals the lowest of 2024

Even with June 2024's revenue total for Ohio sportsbooks the lowest of the year so far, it still outpaces what operators took in a year ago.

Ohio sports betting apps and retail providers in the state combined for $51.3 million in revenues in June, marking the 15th time in 18 months of operation that sportsbooks in the Buckeye State have made over $50 million in profits for a given month.

$51.3 million is 24% less than the nearly $67.4 million generated in May but is an impressive 56.8% spike from the $32.56 million in profits from June 2023.

The June win rate for Ohio sportsbooks came in at just under 9.7%, a 1.4% month-over-month drop from May’s 11.1% and a slight year-over-year increase from 9% in June 2023.

The state government brought in $10.3 million in sports betting taxes for the month, bringing the year-to-date Ohio sportsbook tax contribution total to $87.6 million.

Split decision for Ohio’s best sportsbooks

Unsurprisingly, DraftKings and FanDuel dominated the Ohio legal sports betting market in June. DraftKings Ohio prevailed in the handle battle taking in $181.2 million in wagers in June. It reported $15.3 million in revenues off of an 8.4% hold.

FanDuel Ohio generated the most revenue of all Ohio sportsbooks thanks in large part to a dizzying 14.2% hold for the month. FanDuel claimed $22.7 million in winnings off of $159.4 million in accepted bets in June.

Bet365 Ohio finished a respectable third with nearly $52 million in accepted wagers in June along with $4.58 million in revenue.

BetMGM Ohio was fourth with $34.4 million in wagers during the month and almost $2.5 million in revenues, with Caesars Sportsbook Ohio rounding out the Top-5 in terms of handle and representing the only other sportsbook in the state with a handle exceeding $20 million. It took in $27.7 million in wagers but generated just $717K in revenues thanks to a miserable 2.6% hold.

ESPN BET Ohio was next with $19.93 million in bets and $1.75 million in revenue. Fanatics Ohio followed with $17.8 million in June wagers and $1.38 million in profits.

No other Ohio sportsbook accepted more than $3.3 million in wagers for the month.