Ohio Sets Monthly Revenue Record in August with $204.1M Raked In

Ohio’s 11 casinos and racinos have managed to bring in as much as $204.1 million, outpacing expectations and setting a new record, the Ohio Casino Control and Lottery Commission reported.

Revenue Sets New Record in Ohio for August

Factoring in the latest revenue rake, licensed operators in the Buckeye State have brought in $1.6 billion in revenue year-to-date.

August 2024 was not expected to be the biggest month on record for Ohio, as it had fewer weekend game days, but it managed to surpass expectations nevertheless bringing in a ton of extra revenue.

Activity surged across both the sports betting and casino sector, bringing in $85.7 million of the total revenue, hosted by the four fully licensed casinos in the state. The state’s seven racinos, in the meantime, brought in $118.4 million.

The Buckeye State has similarly brought in a massive number of sports betting handle, generating a 44.6% jump year-over-year, to $548.7 million for August.

Out of this amount, 8.9% was held, which was one of the lowest recorded for Ohio, and a clear indication that sports fans are getting better at placing smart bets. However, Ohio has benefited as a whole, as $48.8 million was earmarked as taxable income, a 19.6% jump year-over-year.

Sports Betting Continues to Soar in Ohio

Online sports betting contributed the bulk of the total betting handle with $534.9 million. The $13 million handle realized by kiosks, racinos, and casinos came with a much better 15.9% hold, meaning that online bettors may be more skilled when it comes to placing sports wagers.

In the meantime, Ohio has also been able to surpass $5 billion in total sports bets placed in 2024. The month also saw DraftKings pull steadily ahead in terms of total handle, with $178.9 million but fell slightly behind with $16.7 million in revenue.

FanDuel did better, with $165.7 million in total handle and $16.9 million, suggesting that the competitor had priced its odds better. Third came bet365, a company that is committed to growing in the United States, which pulled in $59.4 million and realized revenue of just $4 million.

Ohio has also made a point of ousting offshore businesses that have been operating without a license, including Bovada.