Buckeye State exceeds $1bn in monthly handle during January debut
Ohio lawmakers created three kinds of newly legal sports gambling: Las Vegas-style sportsbooks, mobile-betting apps and gaming kiosks.
In its first month of legal sports gambling, Ohio gamblers bet $1.11bn, and as a result, the state will receive around $21m in tax revenue.
Ohio’s 16 sports betting apps accounted for $1.09bn of the $1.11 billion wagered, $320m of which was from promotional credits. These apps paid out roughly $864m to players.
The state’s 14 physical sportsbooks, including those at the Jack Cleveland Casino and MGM Northfield Park, took in $23m, with approximately $20m paid to players. Ohio’s sports gambling kiosks, found mainly in bars, bowling alleys and grocery stores, took in $850,000 in bets, while gamblers won back just over $720,000.
Neither physical sportsbooks nor gaming kiosks gave promotional credits, according to the Casino and Lottery Commissions. Gambling companies can’t subtract promotional credits from their revenue, which is defined by the state as the amount of bets placed, minus winnings and voided bets. Ohio taxes sports gambling revenue at 10%.
The sports betting companies made $209m in combined gross taxable revenue, with $206m from betting apps. FanDuel was the most-used betting app, with $494m of bets, while DraftKings took in $344m.
Ohio’s 11 casinos and racinos had $197m of revenue this January, up from $171m in January 2022 and took in over $2bn in each of the last two years. Analysts expect slot machines and casino table games to eclipse sports betting.
Elsewhere in Ohio, IGT PlaySports partnered with BetSkybox in the Buckeye State.
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