Ohio Reports Sports Betting Surge in March

Ohio reported a sports betting surge in March, with FanDuel leading the way.

Dave Bonderoff

Last updated: May 3, 2023 4:45 PM EDT • 3 min read

It certainly hasn't been boring for the Ohio legal sports betting industry since its launch on Jan. 1.

From the incredible $1.1 billion handle the state reported in its first full month of legal sports betting activity, to news this week of "integrity issues" surrounding Alabama college baseball, to a February revenue slump and a March bounce back, Ohio's best sports betting sites have managed to remain in the news throughout the first three-plus months of operation.

This week, March's revenue report for the Ohio legal sports betting scene was released, as well as news of the Ohio Casino Control Commission (OCCC) stopping betting on the University of Alabama baseball team due to "suspicious activity."

Let's take a peek at both dominant stories from Ohio's sports betting industry this week.

Earnings bounced back in March

Ohio's legal sports betting sites have only been active for just over three months, but already they have shown that they are not immune to peaks and valleys that all participating U.S. jurisdictions are subject to.

Ohio betting sites took in $738.6 million in March, which landed them in the top-five states that have reported their revenue figures for the month. March Madness, just like in other states, had a profound impact on the betting activity in the Buckeye State.

Ohio’s March handle represents a 15.6% increase from the $639 million that Ohio mobile and retail betting sites took in during February. Despite a nearly $100 million spike, March's numbers still pale in comparison to the $1.1 billion in bets reported during the state's first full month of sports betting in January.

Mobile betting sites in the state made up $715.3 million of the overall handle.

Ohio sports betting March revenue

Revenue for the Ohio legal sports betting industry also climbed from February to March. The increased handle played a part, but so too did the decline in necessary promotional spending for sportsbooks. There has been a steady decline in promotional credits used in all three months of operation for Ohio's legal sports betting scene. Sportsbook promotional spending dropped 80% from January to February and about 25% from February to March.

In the end, Ohio betting sites made $92.3 million in revenues in March, up 10.8% from February's profit totals. The hold rate for Buckeye State sportsbook remained strong in March as well, coming in at 12.9%. That’s down slightly from the 13% in February and the 18.8% in January.

$9.2 million in taxes were collected off Ohio sportsbook revenues in March.

FanDuel dominates

FanDuel continued to dominate the betting activity in most jurisdictions they have a presence in during March. FanDuel led Ohio and took in an impressive $258.5 million in bets during March, while posting a state-high $37.3 million in Gross Gaming Revenues.

DraftKings was second with $228 million in Ohio handle during March and $25.1 million in GGR.

Combined, FanDuel and DraftKings made up a whopping 68% of the overall March betting activity in Ohio.

Bet365 was a distant third in terms of March handle with $54.5 million in bets, BetMGM was a close fourth with $54 million, and Barstool Sportsbook Ohio reported a $37.9 million handle in March. Caesars was a disappointing sixth with $36.4 million in bets.

Alabama baseball in Ohio Casino Control Commission crosshairs

The sports betting news out of Ohio isn't all rosy. On Tuesday, regulators in the state were forced to take action against Alabama Crimson Tide baseball because of reported “integrity matters.”

According to a statement from the OCCC’s Jessica Franks: “The Commission received information from one of its certified independent integrity monitors regarding wagers made on University of Alabama baseball and made the decision to prohibit all wagers on UA Baseball. We are continuing to look into the matter.”

FanDuel, DraftKings, Caesars, BetMGM, and Barstool Sportsbook were all forced to remove Alabama baseball from their betting menus. There is no word about reinstatement of Crimson Tide betting.

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Written By:
Dave Bonderoff

Dave Bonderoff and betting go hand-in-hand. Both are characterized by "odds". Dave fancies himself as one of the most dedicated sports and pop-culture junkies around, to the chagrin of his family and friends. Following sports for 50 years and writing about it for 20, Dave hasn't found a sport yet that can't contribute to 2-3 straight hours of couch time. That search remains ongoing. As a good old Canadian boy, hockey is in Dave’s heart, as is curling sadly. But evolution is a real thing and that’s why football, baseball, and just about every sport on the planet has become a passion. Dave isn’t afraid to kill some time obsessing over politics or the far-too-frequent awards shows the consume the airwaves.