In June, Ohio sports betting revenue hit $51.3 million

In June, the Ohio Casino Control Commission and Ohio Lottery reported $51.3 million in gross sports betting revenue. FanDuel had another big month in Ohio. State operator winnings were up 56.8% compared to June 2023. That outpaced the 46.1% surge they saw in their handle to $530.6 million with the win 9.7% win rate nearly two-thirds of a percentage point higher. This was the 15th time in the last 18 months that revenue has surpassed $50 million and the statewide handle was under 9.7%. However, their total betting handle declined 13.4% and revenue tumbled 24% as well. Ohio has 15 retail and 19 sports betting apps for the residents to choose from. Finally, the state collected $10.3 million in taxes which brings the year-to-date total to $87.6 million.

FanDuel continues to profit big in Ohio

To no surprise, FanDuel is thriving in Ohio. The industry leader is one of the top sportsbooks in the US and bettors love their easy-to-use platform. In Ohio, FanDuel accounted for more than 40% of the $15.5 million in promotional credits and bonuses. They collected $6.3 million from bettors using the mobile app. FanDuel has a 14.2% hold in June, generating $22.7 million in revenue from a $159.4 million handle. Their year-to-date hold in Ohio is 14.2%. The industry leader has collected $195.3 million in revenue from $1.36 billion worth of wagers. Additionally, FanDuel surpassed a total handle of $4 billion in Ohio over the first 18 months of sports betting being legal.

Their biggest competition in the US sports betting market is DraftKings. In June, they had the largest handle of all operators at $181.7 million. DraftKings had an 8.4% hold and collected $15.3 million in revenue. The company’s promotional spending was up 32.8% compared to June 2023. BetMGM accumulated $2.5 million in winnings. That was from a 7.2% hold from $34.4 million worth of bets. Additionally, this was the first time that BetMGM had not spent seven figures on credits and bonuses.