The November total is the second highest monthly amount on record. The amount is second to January 2023, when online betting became legal in Ohio, saw the highest ever state-wide handle at $1.11 million.
The November handle also surpasses the $864.2 million wagered in the same month in 2023 by 18.5%. It is also 13.6% ahead of the $901.4 million bet in Ohio in October of 2024.
Of the total amount wagered in November, $1.02 billion was bet online and $20.9 million at retail sportsbooks inside land-based casinos. This is according to data published this week by the Ohio Casino Control Commission.
Consumers in Ohio won $901.9 million during the month while $5.6 million in wagers were voided and $32.3 million processed as promotional bets. This resulted in $117 million in taxable revenue.
The revenue total beats November 2023 by 71.6% and is also 43.6% ahead of October 2024. However, it falls some way short of the all-time record of $209 million in January 2023.
Online betting generated $114.2 million in taxable revenue and retail just $2.8 million.
As for hold, the state-wide figure in November stands at 11.43%. For the online market only, hold was 11.42% and for retail 13.40%.
FanDuel still the one to beat in Ohio
In terms of how operators performed, FanDuel remains the frontrunner in the Ohio online market. FanDuel, partnered with Belterra Park, posted $46.5 million in online revenue from $351.1 million in bets, with a 13.24% hold rate.
DraftKings and Hollywood Toledo, the previous market leaders, again took second place in online. Online revenue from the partnership topped $37.9 million from $329.9 million for an 11.49% hold. Bet365 and the MLB’s Cleveland Guardians were the next closest challengers with $8.7 million from $76.6 million, meaning an 11.36% hold.
Elsewhere in the online market, BetMGM and MGM Northfield Park posted $6.5 million in revenue from a $72.3 million handle. This resulted in a monthly hold of 8.99%. Fanatics and the NHL’s Columbus Blue Jackets followed with $4.7 million off $54.6 million for an 8.61% hold.
ESPN Bet and Hollywood Columbus were next with $3.5 million in revenue from $32.3 million, meaning a 10.84% hold. Meanwhile, Seminole Hard Rock Digital and Hard Rock Cincinnati saw online revenue hit $2.7 million off a $23.3 million handle for a hold of 11.59%.
Caesars and Scioto Downs was the only other online partnership to see revenue exceed $1.0 million. Revenue for the month hit $1.7 million off a $35.2 million handle, resulting in a hold of 4.83%.
As for retail, Hollywood Columbus again took top spot with $525,705 in revenue from $3.3 million in bets for a 16.02% hold. Seminole Hard Rock Digital and Hard Rock Cincinnati were second with $401,604 off $1.9 million, leaving a 20.98% hold.
Original article: https://igamingbusiness.com/sports-betting/ohio-sports-betting-handle-november/
