Ohio Sports Betting Hits Year-High $863 Million in September

Ohio’s sports betting market reached a new high in September, with players wagering $863.0 million on sports, marking the highest monthly handle so far this year. According to data from the Ohio Casino Control Commission, this handle is a 25% increase from the same month last year and a significant 57.5% rise from August 2024. The figure is Ohio’s third-highest on record, trailing only November 2023’s $864.2 million and the $1.11 billion wagered at the market’s launch in January 2023.

Key Points:

• Ohio’s September sports betting handle hit $863 million, the highest of 2024 and third-highest on record.
• FanDuel continues to lead in revenue, while DraftKings took the highest number of bets.
• Online betting dominated with $842.4 million, while retail betting added $20.7 million to the total handle.

Breakdown of September’s Betting Activity and Revenue

Ohio’s September sports betting generated $106.2 million in taxable revenue, representing a 29.8% increase from last year and a 117.6% jump from August. Of this, $102.9 million came from online betting, with $3.2 million contributed by retail sportsbooks. The statewide hold for September was 11.92%, with Ohio players winning a total of $751.1 million.

FanDuel vs. DraftKings: Ohio’s Leading Betting Operators

Ohio’s sports betting market remains dominated by FanDuel and DraftKings, with FanDuel narrowly maintaining a lead in revenue. Partnered with Belterra Park, FanDuel saw $39.1 million in revenue from $276 million in bets with a hold of 14.17%. In contrast, DraftKings, working with Hollywood Toledo, generated $37.5 million in revenue from $308.7 million in bets, marking a 12.15% hold. Despite DraftKings processing a higher volume of bets, FanDuel’s strong revenue performance keeps it in the lead for another month.

Bet365, in partnership with MLB’s Cleveland Guardians, followed closely, reporting $7.7 million in revenue from $68 million in bets with an 11.32% hold. BetMGM, along with MGM Northfield Park, ranked fourth with $5.6 million in revenue from $52.4 million in wagers and a 10.69% hold. Fanatics, partnered with NHL’s Columbus Blue Jackets, completed the top five with $3.6 million in revenue from a $35.6 million handle and a 10.11% hold.

Retail Sports Betting Performance

The retail betting sector, though smaller, showed notable activity in September. Hollywood Columbus led with $504,432 in revenue from $2.9 million in handle, yielding a hold of 17.43%. Hard Rock Cincinnati followed with $468,440 in revenue from $2.4 million for a hold of 19.36%. MGM Northfield Park took the most retail bets with a $3.9 million handle, but revenue of $468,256 resulted in a third-place finish for the month with a 12.12% hold.

Ohio’s Sports Betting Market Continues to Thrive

The Ohio sports betting market continues to show robust growth, with September’s handle and revenue figures reflecting a peak in player activity. As competition intensifies between leading operators like FanDuel and DraftKings, Ohio’s sports betting market remains one of the most dynamic in the United States, especially as operators vie for market share heading into the final quarter of 2024.

The post Ohio Sports Betting Hits Year-High $863 Million in September appeared first on Gamingo News.

Ohio’s sports betting market reached a new high in September, with players wagering $863.0 million on sports, marking the highest monthly handle so far this year. According to data from the Ohio Casino Control Commission, this handle is a 25% increase from the same month last year and a significant 57.5% rise from August 2024.
The post Ohio Sports Betting Hits Year-High $863 Million in September appeared first on Gamingo News.