Ohio sports betting handle surges to $378.8m for August

Ohio witnessed a significant surge in legal sports betting activity during the month of August, signaling a promising start to the upcoming football season.

According to the Ohio Casino Control Commission, the total handle for August reached an impressive $378.8 million, representing a notable 14.4% increase from the previous month.

The influx of NFL preseason and early college football games played a pivotal role in attracting a surge of bettors to both online betting platforms and brick-and-mortar establishments across the state.

As a result, revenue for the month of August saw a commendable 10% uptick, soaring to $40.8 million. This marked the first time this summer that revenue breached the $40 million mark.

Despite a slight dip from July’s hold percentage of 11.2%, August’s 10.8% hold remained in double digits, affirming the sustained interest and engagement of the betting community.

Operators dutifully contributed to the state’s coffers, with a total of $8.1 million paid out in taxes at a 20% rate, up from July’s $7.4 million.

The lion’s share of the handle, a whopping 96%, was generated through online sports betting.

Retail sportsbooks also demonstrated their strength, amassing over $14 million in wagers, a notable increase of nearly $2 million from July.

In an historic turn of events for the Ohio sports betting landscape, DraftKings emerged as the leading operator for the second consecutive month.

With an impressive handle of $133.8 million in August, DraftKings outshone its competitors.

The online sportsbook distributed over $4.7 million in promotional bets, ultimately achieving a taxable revenue of $12.6 million.

FanDuel secured the second spot in the state, amassing a handle of $115.8 million.

Notably, FanDuel’s impressive hold percentage of 13.2% led to revenue of $15.3 million, the highest in Ohio.

Bet365 claimed third place with a handle of $27.6 million, edging out BetMGM’s $26.5 million.

Caesars secured fourth place with wagers totaling $17.9 million, while Barstool, with a handle of $12.5 million, was the only other operator to exceed the $10 million mark in Ohio.

Among retail sportsbooks, Hollywood Columbus led the pack with a handle of $2.8 million, while five others also achieved figures exceeding $1 million.

MGM Northfield Park secured the second position with $1.99 million, closely followed by Hard Rock Cincinnati with $1.87 million.

Jack Cleveland, Jack Thistledown, and Caesars at the Cleveland Cavaliers’ site were the three other brick-and-mortar establishments that surpassed the million-dollar mark in wagers.

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