Ohio Sports Betting Tops $5 Billion in First 9 Months

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Ohio’s sports betting market has reached a significant milestone, amassing a total of $5.2 billion in wagers placed since its launch nine months ago. This accomplishment was bolstered by a robust September, where the handle reached an impressive $690.4 million, reinforcing the growing popularity of sports betting in the state.

Despite being one of the more recent states to embrace sports betting, Ohio is swiftly emerging as a potential contender among the United States’ top-five betting markets. Since its introduction earlier this year, the state’s sports betting sector has accumulated nearly $700 million in taxable revenue, signifying its substantial growth and potential to rank among the nation’s leading betting destinations.

The sports betting scene in Ohio is flourishing as it boasts a total of 20 active online sportsbooks and 15 retail locations. According to its recent report, online wagers were credited for generating the most revenue, amassing an impressive $668 million in the month of September. Retail locations also made a significant contribution, generating $22.4 million during the same period.

Among the key players, DraftKings emerged as the frontrunner, recording $261.4 million in wagers for September, while FanDuel secured the second spot with $207 million. BetMGM made a notable contribution with a total of $46.1 million in wagers placed during the same month, and Bet365 followed closely with $41.9 million.

Ohio Records the 3rd Largest Revenue in September

The state’s sports betting sector reported a handle of $690.3 million for the month of September, making it the third-highest gross revenue recorded this year. This figure represents a 55% increase when compared to the handle generated in August. Notably, September marks the first time since March that bettors have collectively placed wagers exceeding the $600 million threshold.

The remarkable surge in sports wagering activity in September can be attributed to the new NFL season coming into full swing. In August, players placed an impressive $378.8 million in wagers, followed by $331.1 million in July and $362.1 million in June, reflecting the growing enthusiasm for sports betting in the state.

Ohio entered the sports betting arena in Jan. 2023, marking a historic moment with its highest recorded revenue to date, totaling $1.1 billion. FanDuel emerged as a key player, contributing nearly half of this amount, with a substantial $494.2 million. In March, the betting handle reached its closest peak, generating $737.2 million, representing a significant 15.4% increase compared to February figures.

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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