Ohio sportsbooks reach nearly $74m in revenue for April
The total handle for sports betting expectedly decreased from March after the NCAA men’s college basketball tournament completed in early April.
The Ohio Casino Control Commission announced the financial results for sports betting by residents of the state throughout the month of April. Ohio currently hosts 18 different sports betting operators, which all took in a total handle of almost $674.2m, a 29.2% increase year-over-year.
Sportsbooks in the state also combined to collect $73.9m in revenue for April, which was actually up from March’s total of $63.8m. It also represented a 16.8% increase in revenue from April 2023.
The revenue increase from sports betting in Ohio comes as a surprise after the total betting handle had decreased 16.7% from March, an expected drop after the NCAA March Madness basketball tournament had concluded in early April. The tournament sees an extremely high number of wagers placed every year.
That increase in revenue means that Ohio sportsbooks also contributed $14.8m in tax dollars during April, however. The state currently imposes a 20% tax on all sports betting revenue.
The leading mobile sports betting operator by total handle in Ohio was FanDuel sportsbook at $226.7m. FanDuel has a partnership with Belterra Park in Cincinnati that includes a physical sportsbook inside the casino.
DraftKings followed closely behind FanDuel at $216.8m before a significant drop in total handle occurs with Bet365 at $48.9m. BetMGM’s total handle for April finished at $45.2m while ESPN Bet reported $35.8m. Caesars sportsbook had an April handle of $27.9m and Fanatics Gaming reported $21.8m.
Hollywood Columbus led all retail outlets with $2.8m in wagers.
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