Legalized sports betting has been available to Ohioans for nearly one year, and October was the second-best month Ohio bookmakers have seen thus far.
According to a report by the Ohio Casino Control Commission, the state’s legal operators took in a $746.2 million betting handle among the 20 online and 15 retail sportsbooks. That was an 8% increase from their September total, and 97% of that was wagered online.
FanDuel, DraftKings, and Everyone Else
Online sports betting in Ohio remained the platform of choice for most residents, accounting for 97% of the states’ reported betting handle. New York City-based FanDuel and Boston-based DraftKings are far and away the top two mobile platforms of choice amongst Ohioans.
DraftKings OH accepted $258.7 million in October wagers to slip past FanDuel ($258.6 million); however, FanDuel earned more in revenue ($30.9 million) than the $28.6 million in revenue reported by DraftKings.
bet365 finished the month third amongst the 20 mobile operators, reporting a $45.6 million handle. That slightly edged out BetMGM ($46.3 million) and Caesars ($35.4 million), rounded out the top five in online betting handle.
Revenue Matters
Not every operator will report a profit with 20 mobile online betting apps vying for the Ohioans’ Same Game Parlay money. Here are the top five revenue earners for October.
- FanDuel $30.9 million
- DraftKings $28.6 million
- BetMGM $5.6 million
- bet365 $3.8 million
- Fanatics $2.5 million
The bottom five on the revenue ladder are as follows;
Superbook, Betr, and MVGBet each reported operating for a loss, while Bally Bet and Betway reported revenue of $63,000 or less.
Promotional Spending Down from September
Ohio betting promo spending is the key to unlocking the Ohio sports bettor’s mobile door, and the state bookies doled out $38.6 million. That’s down from the $52.5 million in free betting credits and promotions offered during September. The top five in promotional spending for October were;
- DraftKings $13 million
- FanDuel $11.1 million
- bet365 $5.5 million
- BetMGM $3 million
- Fanatics $2.7 million
Prime Sports, the newest addition to the Ohio sports betting mobile community, was the only Ohio operator not offering any promotions. The mobile operator reported a $2.3 million handle while generating $66,131 in revenue for October.
State Tax Office Big Winner
Finally, the state of Ohio was the big winner once again. The Ohio bookmakers paid a 20% tax on their gross gaming revenue and took in $16.1 million in taxes for the right to operate in Ohio. To date, the state has collected over $90 million in tax dollars as a result of legalized sports betting.
