Ohio’s sportsbooks continue to thrive, with a handle of $864.2 million in November, making it the second-highest amount wagered for the second consecutive month. This represents a 15.8% surge from October, indicating significant growth in Ohio’s sports betting industry.

Multiple sporting events, including NFL, college football, MLB, NBA, college basketball, and NHL, drove the increased betting activity among Ohioans. However, despite the heightened betting action, sportsbooks faced challenges as gross revenue dropped by 15% to $68.2 million. The win rate also declined to 7.9%, the lowest in Ohio’s history, suggesting that bettors had an advantage over the sportsbooks.

Promotional credits, particularly from ESPN Bet’s newly launched platform, increased by 52% from October, with $29 million distributed after its November 14th launch. Although Ohio’s average win rate for the year remains solid at above 12%, November marks the end of back-to-back months with revenue exceeding $80 million.

Nevertheless, Ohio sportsbooks have accumulated nearly $850 million in taxable revenue for the year, contributing $13.6 million in tax revenue for November and reaching a total of almost $120 million in 2023.

Notable newcomers in Ohio’s sports betting scene include ESPN Bet, securing the third-highest amount wagered at $70.8 million with a 16.9% hold before promotions. FanDuel leads the online wagering market with a handle of $293.2 million, closely followed by DraftKings with $275.8 million. BetMGM and Caesars have also made significant contributions to Ohio’s betting landscape.

In the retail sector, Hollywood Columbus continues to perform well, surpassing $4 million in wagers for the second consecutive month. Other brick-and-mortar sportsbooks, such as Hollywood Gaming at Dayton Raceway, Hollywood Toledo, and MGM Park Northfield, also generated seven-figure handles in November, demonstrating sustained interest in sports betting across Ohio.

The rise in handle amid revenue fluctuations reflects similar trends seen in other states, such as Pennsylvania, where despite a record sports wagering handle of $934.1 million in November, the revenue experienced a 1.7% decrease.

Leave a Reply

Interested in our Solutions?

    Interested in our Domains?