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The state of Ohio’s sports betting industry is still booming, surpassing the summer heat of 2024. The state’s betting industry is still thriving despite a periodic downturn.
$530.6 million was wagered by Ohio gamblers, according to a June report from the Ohio Lottery and the Ohio Casino Control Commission. This data shows a significant 46% gain from June of the previous year, but a 13.4% reduction from May, a typical seasonal drop. This decline brought an end to a nine-month run in which the total monthly bets exceeded $600 million. Still, Ohio remained one of just four US regions with more than $500 million in June wagers.
Since the launch in March 2023, Ohio’s sportsbooks have consistently grown. Year-to-date, Ohio’s betting handle reached $4.1 billion, up $300 million from the same period in 2023. Notably, 97% of these bets came through sports betting apps.
June 2024 saw Ohio sportsbooks generate $51.3 million in revenue, the lowest of the year but still impressive compared to previous years. This marks the 15th time in 18 months that Ohio sportsbooks have made over $50 million in monthly profits. Despite a 24% drop from May’s $67.4 million, June’s revenue was a 56.8% increase from June 2023’s $32.56 million.
The June win rate for Ohio sportsbooks was just under 9.7%, a slight drop from May’s 11.1% but an increase from June 2023’s 9%. The state government collected $10.3 million in sports betting taxes for June, bringing the year-to-date total to $87.6 million.
DraftKings and FanDuel dominated the Ohio sports betting scene in June. DraftKings led with $181.2 million in wagers, generating $15.3 million in revenue with an 8.4% hold. FanDuel, however, topped the revenue chart with $22.7 million from $159.4 million in bets, thanks to a remarkable 14.2% hold.
Bet365 Ohio came in third with $52 million in bets and $4.58 million in revenue. BetMGM Ohio followed with $34.4 million in wagers and $2.5 million in revenue. Caesars Sportsbook Ohio rounded out the top five, accepting $27.7 million in bets but only generating $717K in revenue due to a 2.6% hold.
Other notable performers included ESPN BET Ohio with $19.93 million in bets and $1.75 million in revenue, and Fanatics Ohio with $17.8 million in wagers and $1.38 million in profits. No other sportsbook in Ohio exceeded $3.3 million in wagers for the month.
Ohio’s betting market continues to grow, attracting new bettors with various promotions, especially with the NFL and NCAA football seasons approaching.