The Ohio Casino Control Commission and Ohio Lottery reported a combined sports betting handle of $548.7 million for August, a year-over-year increase of 44.6%.
The OCCC released its figures Tuesday, while the Ohio Lottery, which oversees sports wagering via kiosks, had released its monthly figures mid-month. The 761 kiosks in operation — down 179 from last year — accepted $806,100 worth of wagers, an increase of 8.5% despite the lesser availability.
Taxable gross revenue totaled $48.8 million, an increase of 19.6% from August 2023. The 8.9% hold marked just the sixth time in 20 months of wagering in the Buckeye State it was below 10%. The only other months sportsbooks posted a lower win rate were in March (7.91%) and November (7.88%).
Handle was also up 14.9% compared to July, though revenue slumped 11.8% as the hold for August was 2.7 percentage points lower. The state was still able to collect nearly $9.8 million in tax revenue, pushing the year-to-date total to $108.5 million. That is $38.6 million ahead of last year's pace, though that margin is skewed by Ohio Gov. Mike DeWine doubling the tax rate to 20% before the start of Fiscal Year 2024 in July of last year.
How DraftKings and FanDuel Stay 1-2 for Mobile Handle
Though promotional spend was up 2.8% compared to last year, it only represented 2.9% of the $534.9 million mobile handle compared to the 4.2% of the $364.3 million wagered digitally in August 2023. Some of that can be attributed to fewer mobile operators in the marketplace as there are 14 sportsbooks taking bets now compared to 18 last year.
Also of note is how DraftKings and FanDuel have retrenched themselves in accounting for a larger share of that spend. In 2023, the two sportsbooks combined for a $7.1 million outlay which represented 46.8% of the $15.2 million spend. This year, DraftKings and FanDuel spent $10.5 million between them — an increase of 47.4% that accounted for 67.1% of all operator spend.
The biggest shift downward came from Fanatics Sportsbook, whose $1.3 million in credits and bonuses was less than half the $2.8 million it awarded in 2023. England-based bet365 had a 6.6% increase to almost $1.6 million, but both operators are in a place where they want to be in the Buckeye State — in the top five for monthly handle. BetMGM also had a seven-figure outlay and slotted between the pair in fourth.
DraftKings led all mobile books for handle with $178.9 million, but FanDuel pipped it for the top revenue spot at $16.9 million. FanDuel also ran its streak with double-digit holds to nine months with a 10.2% win rate against $165.7 million worth of wagers, and it also became the first operator to remit $100 million in taxes to the state since launch.
Bet365 comfortably took the final podium spots for revenue and handle, notching a 6.7% hold from $59.4 million handle that reaped close to $4 million. BetMGM held the status quo by finishing fourth in winnings with $2.3 million and a 5.9% hold on $38.2 million worth of bets. Despite placing seventh in handle with $19.7 million, ESPN BET claimed the No. 5 spot for revenue with $1.9 million on the strength of a 9.5% win rate.
Fanatics ($1.7 million) and Caesars ($1.4 million) rounded out the group of mobile books with seven-figure revenue hauls for August, while Hard Rock came close with $907,900 thanks to a 10.6% hold.
Retail Sportsbooks Shine in Late Summer
2024 YTD Running Top 10 #SportsBetting handles by state (thru Aug in CAPS):
1 NY $13.73B
2 NJ $8.11B
3 Illinois $7.36B
4 OH $5.14B <–NEW
5 PA $4.92B
6 NV $4.68B
7 MA $4.4B
8 VA $4.11B
9 Arizona $3.78B (thru June)
10 CO $3.73B <–NEW#SportsBettingX#GamblingX— Chris Altruda (@AlTruda73) October 1, 2024
Brick-and-mortar sportsbooks in Ohio combined for nearly $2 million in revenue, battering the public with a 15.1% hold from close to $13 million handle. Five venues topped $215,000, paced by the $377,810 won by Hollywood Dayton as it crafted a 27.4% hold from $1.4 million in wagers. Hard Rock's retail sportsbook was a close second at $363,500 on the strength of a 19.3% win rate against $1.9 million in handle.
The four sportsbooks at casinos came within $5,000 of $1 million in winnings while combining for an 18.3% hold and $5.4 million handle. The seven racinos eclipsed $950,000 in revenue with a 13.5% win rate, and wagering at stadia and arenas provided $16,200 and a 3.2% hold. The BetMGM at Great America Ball Park paid out $39,900 above its $157,800 handle, and the Caesars book at Rocket Mortgage FieldHouse absorbed a $23,300 loss for August.
