Lottery agents have handled $1,823,542 since Ohio legalized sports betting became official on January 1, 2023.
866 Ohio Lottery betting kiosks were operating during February, and the various operators netted $62,146 in revenue, down from the $87,664 of revenue the betting kiosks made in January.
What is a Sports Betting Handle and Revenue?
Sports betting handle is the amount of money taken in by a sportsbook over a specific period of time.
Revenue is what the bookies keep from the money wagered after winning tickets are cashed.
Why the February Rise in Handle?
As we reported in January, Intralot provided the majority of the kiosks. Still, due to technical difficulties, many kiosks were either not delivered or could not accept bets. SportsBet acquired Intralot in January, and most issues were resolved and impacted the February rise.
Additionally, Kiosk companies reported a sharp decline in canceled or voided bets – kiosk operators canceled $11,920 in January bets but just $1,510 in February. This decline could be attributed to familiarity with using the kiosks and less technological error.
SportsBet Tops in Kiosk Operator Revenue
SportsBet leads all kiosk providers in handle and revenue while Bet IGG was the only technology company to pay out more than they took in.
Reasons for Optimism
While the February rise in kiosk revenue is encouraging, these upcoming events could drive the kiosk revenue even higher over the coming months.
- N.I.T Semifinals and Finals (March 28-30)
- MLB Opening Day (March 30)
- NCAA Final Four and National Championship (April 1-3)
- Masters Gold (April 6-9)
- NBA Playoffs (April 11-June 19)
- NHL Playoffs (April 15-June 10)
- NFL Draft (April 27-29)