Ohio sports betting revenue drops during second legal month

While Buckeye State has not replicated initial sports betting success, its casino revenue has increased to $197m.

Ohio’s casinos and racinos have seen an increase in revenue for February 2023, while the Buckeye State’s sports bettors were not as keen.

In February 2023, Ohio’s sports betting total revenue dropped to $82.8m, down from the state’s opening-month revenue of $208m during its debut of legal sports betting. Belterra Park FanDuel accounted for $38.4m, or nearly half, of this February’s total sports betting revenue.

Ohio’s total sports betting handle for February 2023 was $638.8m, also down from $1.1bn in January. Belterra Park FanDuel accounted for $233.3m, nearly 40% of the total. The state garnered $8.3m in tax revenue from these bets.

While each casino and racino contains a physical sportsbook, online sports betting revenue reached $81.9m and retail sports betting revenue only brought in $902,000. Both mediums suffered a large decrease, with online sports betting revenue experiencing a 60% decrease, while retail was down 72%.

Though Belterra Park FanDuel sportsbook was the most popular online sportsbook, it ranked 6th out of 14 retail sportsbook options, while Hollywood Dayton Barstool brought in the most retail sports betting revenue of $216,000.

Ohio’s casinos and racino revenue, however, increased 10.2% to $197m total, in February 2023, across 11 properties. This surpasses the previous record of $178.8m in February 2022. However, the state’s gambling revenue has increased steadily since 2012, other than in the year 2020, for pandemic-related closures and lockdowns.

The property that brought in the most revenue for both February 2022 and February 2023 was Jack Thistledown Racino with a raise from $103.5m to $114.4m this year. Jack Cleveland Casino came in second, for both 2022 and 2023 as well, reaching $75.3m last year and rising to $82.6m.

Stephanie Feeley

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