Despite this decrease, April is still the second-highest month in terms of handle, revenue, and prizes won by bettors.
January generated the smallest total handle so far with $850,334, while February is No. 2 with $973,208. Both totals were affected by kiosk delivery issues and some technical errors but those problems seem to have been rectified as reflected in the March and April handle.
A decline in revenue
For the past four months, various sporting events have attracted bettors to place their bets in Ohio. The newly legalized betting market launched in January during the end of the NFL betting regular season, with a lower number of operating kiosks.
In February, software problems with Intralot’s kiosks were resolved, allowing for more kiosks to be added statewide in preparation for Super Bowl betting.
March witnessed a significant increase in kiosk handles during NCAA March Madness, while April saw a thriving betting market with the full swing of Major League Baseball. In April, betting kiosks generated total revenue of $129,195.
SportsBet collected the most revenue at $68,895 from a total handle of $592,095 with a payout of 88.27 percent.
Gold Rush is trailing on number two with less than half of the revenue at $22,499 and $193,796 total handle, despite having a similar payout percentage at 88.36 percent.
UBet’s total handle is number three, with $170,461 and total revenue of $13,427. However, BetSkybox, the state’s newest kiosk proprietor, garnered higher revenue with $14,786, although its handle is barely $100,000 at $99,593. It is because UBet’s payout percentage is much higher at 92.11 percent, while Betskybox only pays out 85.14 percent.
Bet IGG is the lowest in terms of handle and revenue among the five operators, with only $9,588 of revenue and a total handle of $71,188 collected.
Apart from the hype of March Madness dying out, the decline in total revenue might be due to the decline in the number of standalone betting kiosk locations in the state.
The Ohio Lottery Commission, the regulatory authority overseeing the market, reported a decrease from 940 kiosk host locations in March to 926 in April, with a difference of 14 locations.
The number of host locations for SportsBet machines in Ohio decreased by 14 compared to the previous month, leaving them with 739 locations. The Lottery Commission reported 753 SportsBet locations in March.
UBet also saw a decrease of two host locations, bringing their total to 36. However, on the other hand, BetSkyBox, Gold Rush Gaming, and BetIGG each added one new host location between March and April.
In addition, Ohio might have more sports betting kiosks opening up soon, as Elys Game Technology and J&J Ventures have both received licenses to operate in the state from the OCCC.
Looking at the success of BetSkybox which partnered with IGT and joined the market last March, the two new proprietors might have a chance in the state’s kiosk market.
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