Sports Betting
Ohio sportsbooks generated a $1 billion handle for the second time ever in November
Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin is a fan of the NFL and NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is sports and being able to share that through his writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became a Sports Editor, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school.
Get to know Zach Wolpin betterPublished02 Jan 2025
On January 1, 2023, sports betting officially became legal in Onio. Since then, several retail and online operators have entered the market. In November 2024, the state generated a handle of over $1 billion for the second time ever. The Ohio Casino Control Commission reported a $1.03 billion handle in November. That was a 19% year-over-year increase and the second-highest handle ever.
November was a month full of NFL, NBA, college football, and college basketball for customers to place wagers on. This included Thanksgiving with three primetime NFL games that received a ton of action. Since the state’s official launch in 2023, Ohio surpassed $15 billion in sports betting wagers. In November 2024, the state collected $117 million in revenue from an 11.4% hold. That was a 43.5% month-over-month increase and Ohio’s second-highest revenue ever.
Online sports betting generated $1 billion worth of wagers in November. That was enough to produce $114.2 million of Ohio’s total November revenue. State coffers collected $23.5 million and their yearly tax total is $170 million.
The Buckeye State tried reducing spending in November
In November 2023, Ohio sports betting operators handed out $58.9 million in promotional wagers. However, that number dropped to $32.3 million in November 2024. One sportsbook is to blame for the massive 45% year-over-year decrease. ESPN BET handed out $29 million in free bets in November 2023. Promotional credits dropped to less than $700,000 in November 2024. Top sportsbooks like DraftKings and FanDuel did not see their numbers slip year-over-year.
What Ohio sportsbooks had the most success in November?
The Buckeye State is home to 15 mobile sportsbooks. All but four saw a revenue increase in November 2024. To no surprise, FanDuel led all mobile operators with a $351.1 million handle. They generated $46.5 million in revenue from an outstanding 13.2% hold. DraftKings had a $329.9 million handle in November 2024. Their win rate was 11.5% and they collected $37,9 million in revenue.
Bet365 had $76.7 million in wagers for the third-largest handle in November 2024. That was enough to beat out BetMGM who had $72.3 million worth of wagers. Both operators generated $2 million more than they did in October 2024. Fanatics Sportsbook had its largest handle ever in the Buckeye State at $54.6 million. Caesars failed to reach a 5% hold and generated just over $35 million.
