Editing Ohio Sports Betting Revenue Tops $113M In January

<br>Sportsbooks in Ohio reported more than $113 million in total revenue, their highest [https://www.pompombaby.co.uk/blog/journal-blog-is-here revenue mark] since the launch of Ohio sports betting in January 2023 when they [https://www.pompombaby.co.uk/blog/journal-blog-is-here brought] in over $210 million.<br><br><br>Total revenue crossed $1 billion as well, reaching that [https://www.pompombaby.co.uk/blog/journal-blog-is-here milestone] and doing so in just 13 months. Eleven other states have also crossed $1 billion in sports betting [https://www.pompombaby.co.uk/blog/journal-blog-is-here revenue].<br> <br><br>The overall [https://www.pompombaby.co.uk/blog/journal-blog-is-here handle eclipsed] $810 million across the both retail and online sports betting sites, with the online sportsbooks in Ohio collecting $792 million in wagers. The 15 retail sportsbooks in Ohio collected just over $18 million in wagers and kept $2.5 million in revenue.<br><br><br>The state took in $22.6 million in tax revenue, adding to the over $187 million it collected in 2023.<br><br><br>Ohio sports [https://www.pompombaby.co.uk/blog/journal-blog-is-here betting] trends<br><br><br>[https://www.pompombaby.co.uk/blog/journal-blog-is-here Online sportsbooks] in Ohio have only generated nine-figure revenues in two months of the Ohio sports betting market being live: January 2023 and January 2024. March 2023 saw the third-highest revenue with $92 million, December 2023 saw the fourth-highest with $84 million, and February 2023 rounds out the top five revenue months with $80 million.<br><br><br>Ohio sports betting operators came out swinging to gain market share when Ohio sportsbooks launched last year, [https://hastursnotebook.org/index.php/User:CaridadMcNeill dropping] an [https://www.pompombaby.co.uk/blog/journal-blog-is-here exorbitant promotional] spend of nearly $320 million. January only saw $40 million expended on promotional expenses, with only five months outpacing that spend. For scale, Ohio online sportsbooks only invested just over $40 million in promotional endeavors throughout the entire summer months between June and August last year.<br><br><br>Best online sportsbooks in Ohio<br> <br><br>[http://propwiki.org/index.php?title=User:Chanel2724 FanDuel] and DraftKings continue to reign supreme as top dogs in the Ohio sports betting market. FanDuel earned just under $53 million in revenue on a nearly $283 million handle. DraftKings was not too far behind with a $254 million handle and almost $34 million in revenue. These two [https://bioremediate.net/index.php/User:ChaseDraper9878 powerhouses] have enjoyed a stranglehold on the top two spots market wide. [https://www.pompombaby.co.uk/blog/journal-blog-is-here DraftKings] has only [https://animeautochess.com/index.php/User:CeceliaBaugh351 surpassed] FanDuel’s handle four times and its [https://www.pompombaby.co.uk/blog/journal-blog-is-here revenue] just once though.<br><br><br>ESPN BET held onto third place for the third  month, but both its handle and revenue declined [https://www.pompombaby.co.uk/blog/journal-blog-is-here month-over-month]. It [https://www.pompombaby.co.uk/blog/journal-blog-is-here collected] over $70 million in wagers in November and December respectively and earned $11.9 million and $8 million in revenue in those months. It still had a respectable January, however, [https://www.pompombaby.co.uk/blog/journal-blog-is-here hauling] in just under $60 million in total handle with $4.6 million in revenue.<br>