Ohio Sports Betting In September Suffers Revenue Decline

Ohio’s sports betting handle for September reached $967 million, making it the third-highest monthly total since the market’s inception in January 2023. This figure represents a 12% increase from the $864.2 million wagered in September 2024. The rise can be put down to the commencement of the NFL season, which traditionally drives significant betting activity.

Several factors contributed to this remarkable growth in handle:

• NFL Season Kickoff: The start of the NFL season typically generates heightened interest among bettors, leading to increased wagering activity.
• College Football Engagement: With college football also in full swing, bettors had a plethora of options to choose from, further boosting the handle.
• Promotional Offers: Many sportsbooks ramped up their promotional efforts, enticing new customers and encouraging existing ones to place more bets.

Despite the improved handle, operator revenue fell sharply to $77.7 million, a decrease from the previous year’s $110 million. This decline can be attributed to a lower hold percentage, which dropped to 8%, down five points from the same month in 2024.

Implications of the Revenue Drop

The decline in revenue raises several questions about the sustainability of Ohio’s sports betting market:

• Operator Profitability: With revenue declining, operators may face challenges in maintaining profitability, especially if the trend continues.
• Market Competition: The competitive landscape among sportsbooks could intensify as operators seek to attract and retain customers through aggressive promotions and marketing strategies.
• Regulatory Considerations: The Ohio Casino Control Commission may need to monitor the situation closely to ensure that the market remains healthy and competitive.

In September, FanDuel emerged as the top-performing sportsbook in Ohio, generating a handle of $306.1 million and revenue of $32.8 million, DraftKings followed closely, with a handle of $342.7 million but a lower revenue of $21.6 million.