On January 1, 2023, sports betting officially became legal in Onio. Since then, several retail and online operators have entered the market. In November 2024, the state generated a handle of over $1 billion for the second time ever. The Ohio Casino Control Commission reported a $1.03 billion handle in November. That was a 19% year-over-year increase and the second-highest handle ever.
November was a month full of NFL, NBA, college football, and college basketball for customers to place wagers on. This included Thanksgiving with three primetime NFL games that received a ton of action. Since the state’s official launch in 2023, Ohio surpassed $15 billion in sports betting wagers. In November 2024, the state collected $117 million in revenue from an 11.4% hold. That was a 43.5% month-over-month increase and Ohio’s second-highest revenue ever.
Online sports betting generated $1 billion worth of wagers in November. That was enough to produce $114.2 million of Ohio’s total November revenue. State coffers collected $23.5 million and their yearly tax total is $170 million.
The Buckeye State tried reducing spending in November
In November 2023, Ohio sports betting operators handed out $58.9 million in promotional wagers. However, that number dropped to $32.3 million in November 2024. One sportsbook is to blame for the massive 45% year-over-year decrease. ESPN BET handed out $29 million in free bets in November 2023. Promotional credits dropped to less than $700,000 in November 2024. Top sportsbooks like DraftKings and FanDuel did not see their numbers slip year-over-year.
What Ohio sportsbooks had the most success in November?
The Buckeye State is home to 15 mobile sportsbooks. All but four saw a revenue increase in November 2024. To no surprise, FanDuel led all mobile operators with a $351.1 million handle. They generated $46.5 million in revenue from an outstanding 13.2% hold. DraftKings had a $329.9 million handle in November 2024. Their win rate was 11.5% and they collected $37,9 million in revenue.
Bet365 had $76.7 million in wagers for the third-largest handle in November 2024. That was enough to beat out BetMGM who had $72.3 million worth of wagers. Both operators generated $2 million more than they did in October 2024. Fanatics Sportsbook had its largest handle ever in the Buckeye State at $54.6 million. Caesars failed to reach a 5% hold and generated just over $35 million.
