Ohio Sportsbook Revenue Stays Strong in March 2023
The Buckeye State is looking like a sports betting success, with sportsbooks taking $738.6 million in handle during March, Ohio's third month of legal operations.
Ohio is showing signs of becoming one of the most robust gaming markets in the U.S. following a strong March.
The Buckeye State, which went live with legal sports betting on Jan. 1, recorded a $738.6 million handle in March between mobile and retail sportsbooks, according to numbers released this week by the Ohio Casino Control Commission.
Still a ways off from the January debut of $1.1 billion, Ohio’s handle jumped 15.4% month-over-month during March Madness.
The Buckeye State, which only trailed New York, New Jersey, and Nevada in wagers taken nationally, hauled in $95.3 million in gross gaming revenue, which was up from February’s $82.9 million but still behind the January record of $208 million.
The hold remained right around 13%, and with a 10% tax rate, the state brought in $1.2 million more than in February. It helped that Ohio’s sportsbooks handed out 24.9% fewer promotions than the previous month.
Mobile fuels large numbers
Online sports betting sites made up 97% of the March handle for the second consecutive month, and all but $2.9 million of revenue, which came from brick-and-mortar and kiosk wagering.
FanDuel was the top mobile sportsbook, taking in $258.5 million in wagers and making $37.3 million in taxable revenue for an online-best 14.4% hold.
DraftKings finished right behind its rival in March with $228.4 million in handle and $25.1 million in revenue. BetMGM hauled in $54 million in wagers with revenue of $7.1 million to produce a healthy 13.2% win rate.
Hollywood Columbus had the top retail sportsbook with a handle of $4.1 million and revenue of $640,000. RocketMortgae Field House, home of the Cleveland Cavaliers, took in $1.4 million in wagers and produced $210,000 in revenue, the best among the three professional venue sportsbooks recorded.
Wild start to May
Ohio sports betting has been at the forefront of one of the most attention-grabbing stories in all sports this week. The OCCC prohibited sportsbooks in the state from taking wagers on the University of Alabama baseball after its integrity firm discovered issues with a game against LSU.
Three days later, Alabama fired head baseball coach Brad Bohannon for “violating the standards, duties, and responsibilities expected of University employees.” ESPN later reported that Bohannon was seen on surveillance footage on FaceTime with a sports bettor inside Great American Ballpark’s sportsbook.
