Sports Betting
In September, Ohio Sportsbooks saw its handle grow 25% YoY
Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin is a fan of the NFL and NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is sports and being able to share that through his writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became a Sports Editor, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school.
Get to know Zach Wolpin betterPublished13 hours ago on November 04, 2024
The Ohio Casino Control Commission recently announced that the state’s sports betting market grew substantially in September. Their monthly sports betting handle grew year-over-year to hit $6 billion. Ohio online sportsbooks finished with a $864.3 million handle in September 2024, a 25% year-over-year increase compared to their figures from September 2023. This was the state’s third-highest handle since sports betting went live in January 2023.
Gross revenue in September 2024 was up 30% year-over-year to $106.2 million. September and January 2024 are the only two months in the calendar year to reach at least $100 million in profit. All online operators in Ohio combined for $47.7 in promotional bets. Finally, the 12.3% hold from sports betting operators is up nearly three points from August 2024. A 57.7% increase in hold was up an outstanding 117% from August.
What Ohio sportsbooks were the most profitable in September?
Ohio’s total betting handle in September was $864.3 million. Online sports betting accounted for $842.2 million of that handle and $103 million in September revenue. Of the 14 online sportsbooks in the state, nine of them had a double-digit hold. To no one’s surprise, DraftKings led all mobile operators with a $307.8 million handle.
FanDuel was second in September for Ohio sportsbooks with $276 million. The industry leader had the largest hold of any sportsbooks at 14.2 % to help produce $39.1 million in revenue. DraftKings was second in hold at 12.1% and had $37.5 million in revenue. That was more than double the revenue they had in August.
Bet365 came in third place for all online operators in Ohio with a $68 million handle. BetMGM was the only other operator to surpass $50 million in September. Fanatics Sportsbook had $35.6 million worth of wagers. Caesars had $29.2 million in handle while Hard Rock Bet and Prime Sports each reached $10 million.
New sportsbooks tried to make an impression during September
September 2024 was Betr’s first full month of wagering in Ohio. They generated $179,546 during a soft launch in August. In September 2024, they collected $614,496 million worth of wagers. That was the 12th of 14 online operators in Ohio. Prague-based sportsbook Oddin.gg recently received a sports betting license in the Buckeye State.
