Sports Betting Handle Plummets in Ohio for April to $521M

The sports betting regulator in Ohio, the Ohio Casino Control Commission, has announced its latest report, revealing data regarding the performance of licensed mobile and retail sports betting operators in the state. The report unveils the figures for April, showing a drastic decrease in the betting handle when compared to a month earlier.

The new report shows that the total sports betting handle, including retail and mobile betting, hit $520,576,451 in April. This result, when compared to the nearly $740 million in betting handle reported a month earlier, in March, showed a significant decrease for Ohio. The result from this April was the worst one for the year so far, followed by the $639 million in sports betting wagers figure from February.

In contrast, for the first full month of legal betting action in Ohio, in January, the betting handle surpassed the billion-dollar mark by hitting $1.1 billion. Comparison to the figure from April shows that the betting handle plummeted by more than 50%.

A breakdown of the $520.6 million in betting handle reveals that the majority of the wagers were placed via mobile service providers. The lion’s share of the betting handle in April, or some $505.6 million, came from mobile betting activities, while retail outlets saw only $14.9 million in betting handle.

Based on those results, retail sportsbooks saw $1.5 million in revenue, while mobile sports betting operators reported $62.2 million in revenue for April. Not unexpectedly, those results marked a decrease when compared to the revenues reported in March. For comparison, in March, retail betting operators reported $2.8 million in revenue, while mobile sportsbooks saw $92.3 million in revenue.

FanDuel and DraftKings Remain at the Helm of Mobile Betting

According to the Commission’s latest figures, two mobile betting operators dominated the market in April. Those operators are FanDuel and DraftKings and their strong presence in the state comes as no surprise, considering that they are at the helm of betting activities around the US as well.

Although the results were close, FanDuel’s betting handle was slightly higher than the one reported by DraftKings. Overall, FanDuel’s betting handle was $184.6 million, compared to $161.2 million reported by DraftKings. The results represented $28 million and $17.2 million in revenue for FanDuel and DraftKings respectively.

This April, BetMGM performed well too with $38.1 million in betting handle, followed by bet365 with $36.9 million in reported betting handle. Caesars Sportsbook saw $27.5 million in betting handle, while Barstool recorded $23.5 million for April.