Ohio reports 37% year-over-year increase for May sports betting handle
The year-to-date revenue in Ohio is currently $386.2m, including $378m in online revenue.
The Ohio Casino Control Commission has released the sports betting figures throughout the month of May for online and retail operators in the state. Ohio reported a total betting handle of just over $611.6m for the month, an increase of 37% year-over-year. In the month of May, sporting events in Ohio such as the Cleveland Cavaliers making the NBA playoffs and the Cleveland Guardians and Cincinnati Reds continuing each respective season in MLB.
The total handle was carried heavily by online operators, accounting for $595.2m of the handle generated throughout May. Retail operators saw $16.4m wagered during the month, with only just over $1.2m in revenue reported. The leading retail operator in revenue generated was the MGM Northfield Park property at nearly $313k.
Gross gaming revenue in Ohio was up 16.4% year-over-year to $67.4m, with online accounting for 98% of the reported revenue figure. FanDuel sportsbook was the leading online operator in revenue generated, having reported $30.6m for the month of May.
DraftKings was behind FanDuel with $20.1m in gross gaming revenue, but beat out its competitor in total handle wagered. DraftKings reported a handle of $204m, the most of any online operator during the month, while FanDuel a close second at $199.8m.
Online operators paid out a total winnings amount of $523.2m for the month of May, while retail operators paid just over $15m to its bettors.
Ohio sportsbooks are disallowed from deducting promotional spend until 2027. The state’s sports betting law allows for 10% of promotional spend to be deducted beginning in 2027 and 20% to be deducted beginning in 2032.
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