Ohio Enjoys Second-Best Sports Betting Month Ever in October

The legal sports betting industry in Ohio is nearly a year old, and the Buckeye State has consistently ranked as one of the top five sports wagering jurisdictions in the United States. In October, our top sportsbooks continued to deliver strong results.

In October, Ohio sports betting apps and retail providers experienced the second-highest handle month. The combination of five full weekends of NFL, college football, MLB playoffs, and the beginning of the NBA and NHL seasons led to increased sports wagering activity in the state. Despite this surge, revenues did not reach the same levels as the overall handle in the state.

In the competition to dominate the Ohio sports betting market, DraftKings Ohio and FanDuel Ohio emerged as the top contenders, collectively accounting for 71.4% of the state’s total sports wagering handle and generating 76.3% of revenues for Ohio sports betting sites.

$746.3 million October handle for Ohio sportsbooks

In October, Ohio sports bettors contributed $746.3 million to the state’s sports betting apps and retail providers, making it the second-highest month in the 10 months since Ohio sports betting began operating, as reported by the Ohio Gaming Commission.

Additionally, there was an impressive 8.1% increase from the previous month, with over $685 million wagered in Ohio in September.

Ohio sports betting sites accounted for 97% of the state’s total sports betting activity in October, as residents capitalized on promotions offered by Ohio sportsbooks.

Ohio sportsbook revenues fourth-best all-time

Despite the Ohio October sports betting handle being the second-highest ever, revenues did not see a corresponding increase. Nevertheless, sports betting providers in the Buckeye State had a successful month.

Ohio reported over $80 million in gross gaming revenues in October, marking the fourth instance where the state’s sportsbooks reached this milestone in a single month. However, October’s revenue of $80.2 million was slightly lower than September’s $81.9 million, leading to a small drop in profits.

Ohio sports betting providers had a better month in January with $209.6 million, followed by March with $94.8 million, and September with nearly $81.9 million.

Due to a somewhat disappointing 10.8% hold rate for Buckeye State providers, the state’s top sportsbooks collected $16.1 million in taxes.

Top provider race razor-thin

Once more, the competition for the top Ohio sports betting app was between FanDuel and DraftKings, who together made up more than 71% of the state’s total sports betting handle and over 76% of its sports betting revenues.

In October, DraftKings Ohio led the way with $258.7 million in bets, while coming in second in revenue with $28.6 million.

In October, FanDuel Ohio narrowly missed first place with $256.8 million in bets, but claimed the top spot in revenues with $31 million. Meanwhile, bet365 Ohio surpassed BetMGM Ohio to secure third place, reporting $45.7 million in bets and $3.8 million in revenues for the month.

In October, BetMGM ranked fourth in Ohio with $45.4 million in bets, but surpassed bet365 in profits with $5.7 million. Caesars Underscoreg Ohio came in fifth among Ohio sports betting sites, with $35.5 million in bets and $2.3 million in revenues.

PENN Entertainment’s Barstool Underscoreg Ohio had a less successful month in October among Ohio sportsbooks, but the upcoming move to ESPN BET in mid-November is expected to ignite growth for the provider in the Ohio market.