After lagging behind for the first four months, 2024 Ohio sports betting is now ahead of the pace bettors set in 2023.
The state recorded $611.6 million in May 2024 wagers, which is up 34% from $446.3 million in May 2023. Ohio joined the list of states with legal sports betting on Jan. 1, 2023.
Comparing the first five months of 2023 to the five-month mark in 2024, retail and online Ohio betting is up 3.4%:
- January to May 2023 — $3,456,918,229
- January to May 2024 — $3,574,504,125
The industry roared out of the gates with $1.1 billion in January 2023 wagers. It remains the only billion-dollar month in the 17-month life of Ohio sports betting.
DraftKings Catches FanDuel in Ohio Online Bets
FanDuel and DraftKings have dominated the top of the Ohio market, but the May 2024 revenue report featured a lead change between the two juggernauts.
For the first time since October, and only the fifth time in 17 months, DraftKings took in the most bets. DK’s $204.2 million in receipts finished ahead of FanDuel’s $199.8 million. The win ends FanDuel’s six-month streak in the No. 1 spot.
Since online sports betting began in Ohio, FanDuel has maintained an edge with 12-of-17 months and $3.9 billion in collected wagers. DraftKings collected $3.67 billion in bets over the same time frame.
The companies combined for about $7.58 billion of Ohio’s $10.9 billion online gaming industry.
- FanDuel — $3,917,533,143 (35.8% of the market)
- DraftKings — $3,667,251,038 (33.6% of the market)
- FanDuel and DraftKings — $7,584,748,181 (69.4% of the market)
- Other Ohio sportsbooks — $3,341,501,033 (30.6% of the market)
- Ohio sports betting total — $10,926,249,214
*excludes retail (in-person) bets
2024 Ohio Sports Betting Revenue Still Trails 2023
Despite the increase in money accepted by sportsbooks, the first five months of 2024 weren’t as profitable compared to Ohio’s first five months of 2023. Revenue is down 24% — from $506.1 million in 2023 to $384.4 million in 2024.
Taxable revenue in 2024 also slipped compared to January-May 2023. The 2024 window produced $386.2 million in taxable revenue, which is down 23.4% from the $506.4 million mark set in 2023.
Ohio bettors enjoy some of the best variety in the country, with 19 online sportsbooks. The state also has 18 retail locations, including pro-sports arenas, stadiums, and racetracks, where in-person bets change hands.
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