February Ohio Sports Betting Results Show Better Luck for Bettors

Ohio sports betting posted a mixed February. Total wagering in the state inched higher from a year earlier, but sportsbook revenue fell as bettors came out ahead more often than they had in recent months.

Good to Know

• Ohio sportsbooks handled $767.5 million in February, up less than 1% from February 2025.
• Gross revenue fell 7.5% year over year to $69.7 million as hold dropped to 9.1%.
• FanDuel led all online operators in revenue with $28.9 million, while DraftKings led handle with $255.3 million.

Ohio Sports Betting Revenue Slips Even as Handle Ticks Higher

A small rise in betting volume did not translate into a better month for Ohio sportsbooks. Data from the Ohio Casino Control Commission showed online and retail operators combined for $767.5 million in handle during February. That figure was less than 1% above the level from February 2025, ending back to back year over year dips in December and January.

Even so, the month still looked softer than January. With only Super Bowl LX between the Seattle Seahawks and New England Patriots driving the calendar, wagering fell 16% month to month. February also became the first month since August 2025 to finish below $900 million in handle.

Revenue told a different story from handle. Sportsbooks posted $69.7 million in gross revenue, with online operators accounting for $69.4 million of that total. Compared with the same month last year, gross revenue fell 7.5%. Ohio had not seen a lower monthly revenue total since July 2025, and the result ended a four month run of at least $100 million.

Bettors simply had a stronger month. Statewide hold came in at 9.1%, the lowest level since September 2025 and the first time it finished below 10% since October. Retail betting helped drag that number down. Ohio has 13 retail sportsbooks, and those locations managed to keep only 3.6% of a $10.3 million handle.

Another part of the picture came from promotions. Online sportsbooks offered 25% less in promotional bets than they did a year earlier in February 2025. Usually, lower promo spend can help protect margins. February did not follow that pattern, because bettor results more than offset that reduction.

Tax revenue still gave the state a solid result. Ohio collected $14.5 million from $72.8 million in taxable revenue during February. Across January and February combined, the state tax take moved past $35 million.

FanDuel and DraftKings stayed well ahead of the pack, though they got there in different ways. DraftKings led Ohio in handle with $255.3 million wagered. FanDuel followed with $234.4 million in bets, but a stronger 12.3% hold helped it generate $28.9 million in revenue, the top total among online operators for the month.

DraftKings turned its higher handle into $23.8 million in gross revenue. That number landed almost even with the figure from the previous February. FanDuel, by contrast, converted less handle into more revenue because its win rate ran ahead of the statewide average.

Behind those two, bet365 handled $80.4 million and kept 7.5% for $6 million in revenue. BetMGM was the only other operator above $50 million in wagers, finishing with a $54.6 million handle and a 6.4% hold. Fanatics Sportsbook posted $49.8 million in handle and $4.6 million in revenue, giving it one of the better middle tier months in the market.

Caesars cleared $25.1 million in bets and held 6.2%. theScore Bet was the only other online brand to reach at least $20 million in handle, and it finished with a 7.5% win rate. No other online sportsbook reached $1 million in revenue for the month.