Ohio sports betting handle exceeds $900 million in October
The October total surpasses last year’s $747.7 million by 20.6% and 4.5% higher than $863 million in September. It is second only to $1.11 billion in the opening month of legal betting in Ohio.
Data supplied by the Ohio Casino Control Commission shows online betting handle topped $881.7 million and retail $19.7 million.
Player winnings hit $814.7 million across online and retail while $5.6 million worth of wagers was voided. After also taking off $37.7 million in promotional gaming credits, taxable revenue for October reached $81.5 million.
The monthly revenue figure is 1% above last year’s $80.7 million haul and 67% ahead of $48.8 million in September. Ohio’s record is $209 million, again in the launch month of January 2023.
Online betting generated $80.3 million in taxable revenue and retail $1.2 million.
In terms of hold, the state-wide figure in Ohio for October was 9.04%. Online hold reached 9.11% and retail 6.09%. Details on tax collected are not available.
FanDuel pulls clear of DraftKings
Looking at individual operators, after a close-run race in September, FanDuel enjoyed a more commanding online lead in October. Revenue from its partnership with Belterra Park hit $34.5 million off $307.2 million in wagers, leaving a 11.2% hold.
DraftKings and Hollywood Toledo remain second with $25.7 million in revenue from a $297.9 million handle for an 8.63% hold. Bet365 and the MLB’s Cleveland Guardians were a distant third on $6.1 million off $72.2m, meaning an 8.45% hold.
Other operators in the Ohio market include BetMGM and MGM Northfield Park, which took $3.9 million from $59.5 million for a 6.55% hold. Fanatics and the NHL’s Columbus Blue Jackets were next with $3 million off $41.7 million for a 7.19% hold.
Caesars and Scioto Downs reported $2.4 million revenue on $29 million handle, meaning an 8.28% hold. Next was ESPN Bet and Hollywood Columbus $2 million off $28.4 million for a 7.04% hold.
Seminole Hard Rock Digital and Hard Rock Cincinnati was the only other partnership to see online revenue exceed. For October, revenue topped $1.5 million from $17.8 million, leaving an 8.43% hold.
As for retail, Hollywood Columbus led the way with $430,098 in revenue from a $3 million handle, meaning a 14.66% hold. BetJack and Jack Cleveland took second with $257,708 off $2.9 million for an 8.99% hold.