The Ohio sports betting market is one of the most diverse in the United States. The population, sports fandom, and number of licensed operators makes it a great case study for U.S. sportsbook performance and growth. And most importantly, the Ohio Casino Control Commission splits up its handle and revenue data by operator, so we can get an accurate market share picture, not just an estimate like in most other states.
To no one's surprise, FanDuel and DraftKings dominate in Ohio. They combine for more than 65% of the betting handle. But FanDuel, as it does in many states, dominates GGR (Gross Gaming Revenue) thanks to the incredible hold it generates from its parlay products.
After the duopoly at the top, there are six operators with at least 1.5% of the handle in 2024. Global giant bet365 is third, edging out BetMGM, ESPN BET and Caesars Sportsbook. Fanatics Sportsbook and Hard Rock are the other books north of 1%.
I have the Ohio data (loosely organized) in a Google Sheet if you want to check it out yourself.
2024 Market Share Notes
- Global giant bet365 was a bit late to the U.S. market, and Ohio was one of the first states where it launched with its competitors on Day 1. It's a good sign that they're third, but I'm surprised they haven't separated from the other Tier 2 operators a bit to push for 10%+ share since their sportsbook app is far superior to anyone but DK & FanDuel. I'm also surprised its GGR doesn't outpace its handle share given its industry-best same game parlay product, but I'd expect that to change a bit over time.
- Prime Sports, despite its GGR being in the red, has to considered a winner of 2024. The "sharp" sportsbook that promises to allow high and fair limits for all bettors, won't limit winners, and won't advertise or give out heavy bonuses is nearing 1% handle share in 2024. Through the first five months of 2024, Prime has only given out $11,557 in promotional bets, the lowest of any book.
- FanDuel's GGR share is astounding. Despite being just ahead of DraftKings on handle, its GGR is 45%+, depending on the month.
All-Time Market Share Notes
- Fanatics Sportsbook and PointsBet reported separately for some of 2023 since they each had Ohio licenses, but they're now unified in Ohio's reporting since the acquisition closed.
- Betr, despite its splashy fundraising and focus on viral marketing, brings up the rear in Ohio at .09% handle. It's all-time handle is also 12.23% from promotional dollars, the third-highest of any sportsbook.
- FanDuel sucks up so much of the GGR share thanks to its parlay products, putting dents in Caesars, BetMGM, ESPN BET, especially, at least relative to their handle.
Month-to-Month Performance and Growth
To make this growth chart more viewable, we've taken out DraftKings and FanDuel.
- ESPN BET's promotional blitz in late 2023/early 2024 put a dent in market share for bet365, BetMGM, and Fanatics especially. Then once that slowed down, those operators rebounded to their pre-ESPN BET levels.
- Hard Rock has made some progress in early 2024, going from sub-1% in the final months of 2023 to more than 1.5% of handle in most months so far in 2024. It's possible that dovetails with its relaunch in Florida, where it's the only licensed sportsbook.
- Fanatics, bet365, Caesars and BetMGM all dipped a bit in May 2024, as DraftKings and FanDuel rose.
