Ohio Sees its Sports Betting Handle Fall by more than 40% in Its Second Month

The 2nd month of legal sports wagering in Ohio didn't come close to January's extraordinary debut.


According to figures released by the Ohio Casino Control Commission on Friday, the Buckeye State took in $638.8 million in sports wagers - down 42.6% from January's $1.1 billion debut.


However, that's not necessarily bad news, as exceeding the first month's manage was a nearly difficult accomplishment.


Regardless, only New York City ($1.47 billion), New Jersey ($847.4 million), and Nevada ($659 million) have reported a higher February handle than Ohio. The Buckeye State, which levies a 10% tax, saw sportsbooks take $82.9 million in taxable profits, which was down from the previous month's $208.9 million profit.


Sportsbooks integrated to distribute $59.1 million in advertising credits, consisting of $38 million combined from FanDuel and DraftKings. That's well listed below the $320 million in bonus bets and credits that were handed out in the first month.


FanDuel and DraftKings control


A month after declaring a remarkable 18.8% hold, sports betting in Ohio saw books still keep the win rate around 13% in February. Online sports betting sites comprised 97% of Ohio's February manage.


FanDuel and DraftKings combined to represent 72% of the manage and 77% of the taxable profits. FanDuel removed its competing with a handle of $233.3 million and taxable revenue of $38.4 million for a win rate of 16.4%. DraftKings wasn't far behind with $214 million in sports bets accepted, with profits of $24.5 million.


Through the first 2 months of online sports betting being legal in Ohio, FanDuel and DraftKings have a combined handle of $1.3 billion. Meanwhile, BetMGM came in third in February among online sportsbooks with a manage of $46.1 million, plus another $1.6 million from retail areas.