In early 2023, sports betting became legal in Ohio. During March of 2023, the state’s sports betting handle was $95.3 million. This past March, that number dropped 33.1% percent to $63.8 million in 2024. March was the first month that Ohio had banned betting on collegiate player props in Ohio. That subsequently affected their sports betting revenue. 

Ohio is the 25th state that has either limited or outlawed betting on player props. NCAA President Charlie Baker is working to make betting on player props illegal across the country. Ohio Governor Mike DeWine said the state took quick action because it wanted to help student-athletes. DeWine also had this to say.

“Amending rules to focus bets on the team and away from individual athletes will improve the marketplace in Ohio and properly focus betting attention on the teams and away from individual student-athletes.” – Mike DeWine

Why did Ohio’s sports betting revenue take such a drop in March 2024?

The Ohio Casino Gaming Control Commission announced that $808.1 million in wagers was placed in March 2024. That’s up from the $671 million they saw in February. Despite that, their hold percentages fell from 10.1% to 8.6%. Resulting in lost revenue for Ohio. In February, their sports betting revenue made $66 million. Their totals from March 2024 were just $63.8 million. 

Despite online sportsbooks in Ohio that struggled, physical casinos did well for themselves. In February 2024, they lost $122,000 from $13 million in bets wagered. That number took a massive jump in March 2024 with $1.6 million in revenue and $23.4 million in bets placed. Nearly doubling their handle from the previous month. Even with that revenue, only 2.9% of wagers in Ohio are placed in person. Online sportsbooks are easily accessible and require little effort.

FanDuel and DraftKings are the most profitable sportsbooks in Ohio

It should be no surprise that FanDuel and DraftKings are the most profitable sportsbooks in Ohio. They dominate the market as a whole and are two of the top sportsbooks in the United States. In March 2024, FanDuel reported a betting handle of $265.9 million with $27.0 million in revenue. DraftKings was not far behind with a handle of $260.6 million and $20.3 million in revenue. In third place behind the two industry leaders in Ohio is Bet365. 

They reported a handle of $57.3 million in March 2024. That was a 28.5% increase from February. Additionally, data showed that Bet365 is most popular in Ohio for residents aged 21-24.