For the fifth consecutive month, Ohio’s mobile sports betting apps saw a decline in betting handle. The OCCC reports the bookmakers handled $319 million in Ohio wagers, down from the $362 million Ohioans wagered in June.
While the betting handle is lower than the past five months, the bookmaking companies earned $5 million more in July than the previous month. Still, the $37 million generated from legalized bookmaking was the second lowest in its seven months of existence.
DraftKings Overtakes FanDuel for July Mobile Honors
DraftKings Ohio took the July mobile betting handle honors, handling $116.1 million in July wagers. That earned the Boston-based bookmaker and DFS provider a second-best $11.8 million in revenue. Rounding out the top five in sports betting handle for July are;
- FanDuel Sportsbook $106.6 million
- Bet365 Sportsbook $23.5 million
- BetMGM Sportsbook $22.9 million
- Caesars Sportsbook $17.7 million
FanDuel July Mobile Revenue Leader
FanDuel Ohio didn’t take in the most wagers in July, but they did generate the most revenue. The NYC-based bookie and DFS provider earned $13.9 million in July revenue. That’s nearly $2 million more in revenue than DraftKings and roughly $9 million more than everyone else. The five earning bookies in the state are;
- FanDuel Sportsbook $13.9 million
- DraftKings Sportsbook $11.8 million
- Bet365 Sportsbook $2.8 million
- BetMGM Sportsbook $2.7 million
- CaesarsSportsbook $1.7 million
FanDuel Tops State in Mobile Promotional Betting Credits
To help licensed bookies attract new business, the OCCC allows Ohio sportsbooks to offer free promotional betting credits. These promotions are not deductible from the bookmaking company’s total monthly gross receipts.
The state’s 18 mobile operators passed out $10.7 million in promotional betting credits, the least amount of promotions offered through the first seven months. The top five in promotional betting credit spending are;
- FanDuel Sportsbook $3.0 million
- DraftKings Sportsbook $2.6 million
- Bet365 Sportsbook $1.5 million
- Fanatics Sportsbook $1.1 million
- BetMGM Sportsbook $1.0 million
Ohio Tax Revenue
As always, the state is the big winner. The mobile bookies paid $35.8 million in taxes at its current 10% tax rate for doing business in the state. Since January 1, the state has collected $563.8 million for the 18 mobile betting operators.
What Does This Mean for Ohio Sports Bettors?
Finally, the July report tells us there are five bookmaking companies generating at least $1 million in revenue.
Those five companies have been operating in Ohio since January 1 and, from a business standpoint, seem to be stable and won’t likely close their doors anytime soon.
Fanatics is new on the scene, but they handled the ninth most bets and generated $657,217 in revenue. The company has opened two retail sportsbooks, their acquisition of PointsBet seems to be near completion, and it will be interesting to see if they can find their way into the top five.
Mobile bookmakers earning less than $100,000, like Betr, Betway, BetFred, SuperBook, MVGBet, and PARX, will have some decisions to make. Football will likely decide the future for these bookmakers, so we’ll likely see more promotions this fall from these struggling companies.