Ohio Sports Betting Handle Rises by 15.8% in November

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For the second consecutive month, Ohio’s sports betting scene has experienced a continued surge in betting activity.

The Ohio Casino Control Commission’s revenue report revealed that the Buckeye State amassed a total of $864.2 million in wagers during November, marking a 15.8% increase from October’s figure of $746.4 million.

In Ohio’s 11-month sports betting history, November’s handle stands as the second highest, trailing only behind January’s impressive $1.1 billion handle.

The remarkable uptick in betting activity primarily stems from the online betting sector, which contributed to 97.3% of the overall handle. Online sportsbooks collectively processed $841.1 million in bets. In contrast, retail operators handled $23.1 million in wagers.

Ohio’s licensed sportsbooks are on the cusp of an impressive milestone as they approach the conclusion of their inaugural year of legalized sports betting. These operators are inching closer to reaching a remarkable handle of $7 billion in total bets processed.

Ohio Sports Betting Revenue Suffers 15% Decline

While reveling in the success of heightened betting engagement, operators faced a challenge in the form of a decreased win percentage which resulted in a downturn in overall revenue.

Operators experienced a 15% decline in revenue for November, culminating in a monthly total of $68.2 million. This dip marked a significant shift in the state’s sports betting landscape, registering the lowest hold since the inception of sports betting in the state (7.9%).

However, bettors had a more favorable month, amassing winnings totaling $770.3 million.

The November revenue has ended the streak of consecutive months with revenue surpassing the $80 million mark as reported in September and October.

As the year approaches its end, sportsbooks in Ohio have amassed close to $850 million in taxable revenue. Online operators generated $827.7 million in the fiscal year, while their counterparts garnered $20.2 million from retail locations.

Despite a dip in revenue observed in November, resulting in a reduction of Ohio’s tax revenue by $3 million to $13.6 million, the state has seen substantial gains, accumulating nearly $120 million in tax revenue throughout 2023.

FanDuel Ohio Maintains Dominance

FanDuel maintains its lead in the state, processing $293.3 million in bets, marking a 13.4% increase compared to October’s figures of $258.6 million. The sportsbook paid out $271.6 million in winnings and generated a taxable revenue of $21 million.

DraftKings concluded the month closely trailing behind at $275.8 million in handle yet emerged as the top revenue generator in the state, amassing $22.5 million. However, November’s taxable revenue fell short by $6.1 million compared to October’s figures.

ESPN Bet secured the third position, reporting a handle of $70.8 million. Although recording the highest hold at 16.9%, the operator’s revenue was affected by promotional credits totaling $29 million, culminating in a revenue of $12 million.

BetMGM accumulated a total gross receipt of $50.1 million, followed by Bet365 with $45.4 million and Caesars Sportsbook with $38.4 million in the same period.

About the Author
Tebearau Egbe

Tebearau Egbe

Tebearau Egbe is a seasoned gambling writer with over four years of experience. Armed with a Masters degree in philosophy, Egbe possesses a unique ability to dissect complex industry developments, distilling them into insightful narratives that captivate readers.

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