In July, Ohio Sportsbooks routed the public to claim $55 million in gross sports betting revenue

On Tuesday, the Ohio Casino Control Commission and Ohio Lottery reported a combined $55.4 million in adjusted gross sports betting revenue in July. It was the 15th time in the last 19 months that the state obtained a double-digit hold. July was the 16th time that Ohio’s monthly winnings exceeded $50 million. Since Ohio became a legal sports betting market in the U.S., they’ve collected more than $1.43 billion. Ohio’s revenue in July 2024 was 48.7% higher compared to their figures in July 2023. Almost 98% of their wagers in July were done via the 18 mobile sportsbooks in the state. Roughly $10.2 million was from retail venues and $614,000 from kiosks statewide. While revenue was up in July, Ohio saw a 10% decrease in its handle. Finally, Ohio collected $11.1 million in tax revenue from a 20% rate. Ohio’s year-to-date total is now $98.7 million.

What sportsbooks in Ohio had the most profit in July?

When it comes to sports betting revenue in Ohio, no state has been more profitable than FanDuel. For the 11th straight month, FanDuel has collected at least $20 million in taxable winnings. In July 2024 they collected $20.8 million while attaining a 14.9% hold from $139.4 million in accepted wagers. This was also the fourth straight month that FanDuel had a hold of at least 14.2% or higher. Additionally, their all-time revenue is now over $600 million thanks to an all-time hold of 14.4% and a $4.22 billion handle. DraftKings had the largest handle of any mobile sportsbooks in Ohio this past July with $160.2 million in accepted wagers. Their $17.9 million in accepted wagers is not far behind FanDuel’s $20.8 million. With an 11.2% hold, DraftKings’ total revenue is now over $150 million for the year. Finally, DraftKings’ all-time handle is now over $4 billion. 

Rounding out the top three for handle and revenue in July was bet365. They accepted $51.9 million worth of wagers and posted a 9.8% hold to collect $4.8 million in winnings. Bet365 is an England-based sportsbook that has an aggressive promotional game to keep an edge on its peers in the market. So far in 2024, Bbet365 has awarded $14.7 million in credits and bonuses. For the first time since January, BetMGM had a double-digit hold in the Ohio sports betting market. Their 10.2% hold helped them collect $3 million in winnings from $29.2 million in accepted wagers. BetMGM’s all-time wagers are now over $800 million in Ohio.