The Ohio Casino Control Commission (OCCC) and Ohio Lottery reported a combined sports betting handle of $548.7 million in August. That was a 44.6% year-over-year increase. These figures were released by the OCCC on Tuesday. However, the Ohio Lottery released its monthly figures mid-month.
From their 761 kiosks in operation, Ohio collected $806,100 worth of wagers. Despite being down 179 kiosks compared to 2023, they still saw an 8.5% increase. Taxable gross revenue in August was $48.8 million, a 19.6% increase from their figures in 2023. Ohio’s 8.9% hold in August was just the sixth time in 20 legal months of wagering they were under 10%.
Only two other months had a lower hold than Ohio had in August 2024. Compared to their figures from July, the Buckeye State’s handle was up 14.9%. Ohio was still able to collect $9.8 million in tax revenue. Their year-to-date tax revenue total is now $108.5 million. Already $38.6 million ahead of their pace in 2023. That number is partially skewed due to the tax rate doubling to 20%.
What Ohio sportsbooks were the most profitable in August?
In August, Ohio sportsbooks combined for $539.4 million in a mobile sports betting handle. Promotional spending only accounted for 2.9% compared to 4.2% in 2023. However, Ohio’s mobile handle in August was $364.3 million. That doesn’t compare to the $539.4 million in 2024. Compared to this time last year, there are now four fewer sportsbooks competing for a win rate in Ohio.
Additionally, DraftKings and FanDuel have “retrenched” themselves to account for a larger share of the spend. Last year, the two sportsbooks combined for a $7.1 million outlay. That was 46.8% of the $15.2 million spent. In 2024, DraftKings and FanDuel have spent $10.5 million, an increase of 47.4%. This accounted for 67.1% of all operator spending in the state. DraftKings led all mobile sportsbooks with a handle of $178.9 million.
FanDuel claimed the largest revenue total at $16.9 million in August. Their streak of having at least a 10% hold extended to nine months. They collected $165.7 million worth of wagers and had a 10.2% hold.
How did retail sportsbooks fare?
Brick-and-mortar sportsbooks in Ohio combined for close to $2 million in revenue in August. They had an outstanding 15.1% hold from a nearly $13 million handle. Five retail locations had more than $215,000 in revenue. Hollywood Dayton’s $377,810 in revenue was the largest of any retail location in Ohio. Hard Rock’s retail location was a close second with $363,500 in revenue.
