Sports Betting in Ohio Maintains Stellar Streak

Sports Betting in Ohio Maintains Stellar Streak

We always keep track of the various betting markets across the country here in our pay per head blog. This is important because we try to analyze the market by looking at patterns in trends, in market behavior, and other information that is important for bookies. This will be very helpful for you as you try to compare your sportsbook’s data with other markets. It is also a great way to see the direction of the industry. For instance, sports betting in Ohio continues to prosper, with 8 straight months of a betting handle above $600 million.

This is great news for those learning how to be a bookie. Traditionally, sports betting weakens during the summer months. But so far, sports betting activity has remained consistently good, even if there is a decline in the numbers. Let us take a look at the latest report from the Ohio Casino Control Commission.

Sports Betting in Ohio in the Month of May

Sports Betting in Ohio Maintains Stellar StreakAccording to the report, the total monthly betting handle for Ohio in May is at $612.7 million. This is much higher than May 2023’s handle of $447.5 million. This brings the total handle to $11.3 billion in wagers since sports betting became legal in the state back in January 2023. The handle for May is slightly lower than that of April. But this is consistent with market trends. What is remarkable is that the dip is not too low, and sportsbooks are at the eighth straight month of recording upwards of $600 million in their handle.

Meanwhile, revenue for the month sits at $67.4 million. This is 16.4% higher than May 2023. This is remarkable considering that May 2023’s hold was 13%, but this May’s 11% hold gave us a higher revenue amount. The state now collects 20% from the revenue, so the state was able to collect $13.5 million in taxes. Ohio is also consistent with its hold percentage, with majority of the months recording double-digit holds since its launch last year.

Casino Gaming is Also Booming in Ohio

Sports Betting in Ohio Maintains Stellar StreakCasino gaming is also doing well in the state. The handle is at $421.5 million year-to-date, with $84.6 million coming from May’s handle alone. This is the second highest casino handle the state has seen this year so far.

Casino gamers in the Buckeye state love slot machines the most, with Ohio casinos earning $62.4 million from slots. Table games meanwhile, generated $22.2 million in revenue. If you want to dip into casino gaming to add it in your sportsbook operation, you can easily do it with the right provider. Look at the services offered by the top 5 pay per head companies and you will see which among them offer iGaming products. Based on the numbers we have seen in Ohio’s sportsbooks and casinos, both segments are extremely profitable. So if you want to earn more in your online sportsbook, add more products for your players to enjoy. Casino games offer a wide variety of options, from table games like baccarat to online slots. Adding horse racing can also add a lot to your bottom line as well.

 

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