The state’s retail and mobile bookies handled $377.8 million in bets during the eighth month of the year, a steep jump from the $319 million handled during July.
Ohio sports betting sites also generated roughly $3 million more in revenue than they did during July, and that’s a good sign of things to come for the Buckeye State betting companies.
DraftKings Takes August Mobile Honors
Six of the 19 bookmakers handled over $10 million in Ohio wagers during August. Boston-based DraftKings Sportsbook handled $133.8 million in bets to lead the state.
DraftKings Ohio generated the second most revenue for August but spent a state-high $4.7 million in welcome bonuses and betting credits.
Following DK in the betting handle were FanDuel Sportsbook ($115.8), Bet365 Sportsbook ($27.5), BetMGM Sportsbook ($26.4), Caesars Sportsbook ($17.9) and Barstool ($12.4).
Revenue was a different story, as seven bookmakers generated at least $1 million in earnings from sports betting activities. The top seven in terms of millions in revenue are;
- FanDuel Sportsbook $15.2 million
- DraftKings Sportsbook $12.5 million
- BetMGM Sportsbook $3.1 million
- Bet365 Sportsbook $2.2 million
- Caesars Sportsbook $1.7 million
- Fanatics Sportsbook $1.3 million
- Barstool Sportsbook $1.0 million
Encouraging Retail Handle
Ohio has 14 retail sportsbook locations scattered within the state’s borders, and they accepted $22.9 million in wagers from their in-person brick-and-mortar betting parlors.
Barstool Sportsbook (soon to be ESPN Bets) has four retail locations and collectively handled $7.3 million in handle for August. The top five individual brick-and-mortar sportsbooks;
- Hard Rock Cincinnati (Seminole Digital): $4.4 million
- Jack Cleveland (betJack) $3.5 million
- Hollywood Columbus (Barstool): $3.1 million
- MGM Northfield Park (BetMGM): $2.0 million
- Scioto Downs (Caesars): $1.8 million
The state collected $8.1 million on a 20% street tax for allowing the sportsbooks to operate legally within the state. That gives the state of Ohio $60 million in additional revenue since January 2023.
What This Means for Ohio Sports Bettors
Seven sportsbook companies reported generating over $1 million in revenue for August. That’s up from five sportsbooks in July and a sign that maybe more than just FanDuel, DraftKings, BetMGM, and Caesars can earn enough revenue to stay in business.
The report also tells us that sportsbooks like Betway Sportsbook, Superbook Sportsbook, Betr Sportsbook, Hollywood Gaming, and MVGBet earned less than $250,000 in August revenue. We have to wonder how long these bookmakers can remain in business, and these betting shops must have a strong football season otherwise, how will they keep paying their bills?
Finally, the real test for the Ohio bookmakers will be the results from their September handle. We’ve already seen a spike in handle thanks to preseason NFL football and a few college football contests. Next month, we’ll see what a football-betting state like Ohio will generate while the future of several betting businesses hangs in the balance.