While the bookmakers saw a significant dropoff from its phenomenal January record-setting handle, the Buckeye State still ranks 3rd in overall handle among legalized US states through February 2023.
Running Top 10 2023 YTD #SportsBetting handle by state (Feb in CAPS):
1 NEW YORK $3.27B
2 NEW JERSEY $1.93B
3 OHIO $1.75B <-NEW
4 NEVADA ~$1.6B
5 PENNSYLVANIA $1.37B
6 Illinois $1.07B
7 VIRGINIA ~$947M
8 MICHIGAN $848.1M
9 INDIANA $783.3M
10 MARYLAND $780.9M#GamblingTwitter— Chris Altruda (@AlTruda73) March 31, 2023
February Sportsbook Revenue Down
The Buckeye State handle might be down, but Ohio online sportsbooks generated $82.9 million in taxable February revenue.
That was down from the $208,921,342 January totals, but promotional betting credits and bonuses heavily impacted those numbers.
Tax Revenue Generated
Tax dollars generated by Ohio sports bettors are earmarked for state aid education, local government, and problem gambling.
The state took in $82,921,878 in February tax dollars, and thus far, the Buckeye State coffers are $291,861,718 richer thanks to legalized sports betting.
FanDuel Tops February 2023 Mobile Handle
For the second-consecutive month, FanDuel continued to dominate the online operators, taking in $232,754,873 in wagers, down from their January opening mobile handle of $494,195,388.
|
Operator |
February |
January |
|---|---|---|
|
FanDuel |
$232,754,873 |
$494,194,388 |
|
DraftKings |
$214,018,544 |
$343,971,125 |
|
BetMGM |
$46,131,922 |
$82,120,011 |
|
Bet365 |
$30,989,095 |
$38,627,894 |
|
Caesars |
$28,445,730 |
$31,494,714 |
Ohio Retail Handle Sees February Decline
Ohio oddsmakers saw a decline in retail or in-person wagering, taking in $17.1 million in February wagers at the 14 brick-and-mortar sportsbooks. Hollywood Columbus (Barstool) led Buckeye State bookmakers with $2.7 million in February sports betting handle.
|
Operator |
February |
January |
|---|---|---|
|
Hollywood Columbus |
$2,759,083 |
$3,151,796 |
|
Hard Rock Cincinnati |
$2,423,168 |
$4,419,748 |
|
Jack Cleveland |
$2,265,212 |
$3,500,842 |
|
Scioto Downs |
$1,913,040 |
$1,808,484 |
|
Jack Thristledown |
$1,647,408 |
$1,630,858 |
Sharp Decline in Promotional Wagers
The Ohio Casino Control Commission allows sportsbooks to offer promotional sign-up bonuses to attract new customers. The promos are included in the gross handle, taxed at 10%, and expected to be eliminated after a one-calendar year of operation.
FanDuel offered Buckeye State customers $19,712,099 million in February betting credits and promotions, down from the $168.6 million in January freebies.
Rounding out the top five in promotional offers are DraftKings ($18,351,047), Bet365 ($9,650,499), BetMGM ($4,721,606), and Tipico ($1,933,770).
