Ohio hits over $1 billion in sports bets for November
According to the , Ohio sports fans bet over $1 billion in November alone. This is the second time the figure has been surpassed since January 2023, the first month sports betting went live in the state. The result sees an increase of 19% on November of the previous year, with the majority of bets going through FanDuel and DraftKings.
Brick-and-mortar trailing behind online sports bets
The preference for online sports betting over in-person wagering is indisputable, with 98% of the months revenue coming from online bets. Retail wagering saw a 10% decline, with the states 16 physical sportsbooks bringing in just $20.8 million of the monthly total.
In autumn of last year, Rocket Mortgage Fieldhouse, a premier sports and entertainment facility in Northeast Ohio, made the decision to close its retail sportsbook as a result of low engagement, with the arena paying out more money in sports bets than it took in for 10 of its 21 months of operation. It is now offering its Caesars sportsbook exclusively online.
In a statement to local media at the time, the Fieldhouse team explained, “Rocket Mortgage FieldHouse prides itself on keeping our fans’ needs top of mind. With that, we were able to reimagine the Caesars Sportsbooks to become a new, premium space for Cavs United Members. The Cleveland Cavaliers and Caesars Sportsbook remain committed to providing new, dynamic experiences for all fans who visit Rocket Mortgage FieldHouse. Sports wagering is still available via the Caesars Sportsbook mobile app for users 21 and older at Rocket Mortgage FieldHouse and across the state of Ohio.”
The appetite for retail wagering is so low that some operators who purchased licenses in the state have yet to even open them. To breathe some life into the retail landscape, industry analyst, Geoff Zochodne, told that the introduction of a lower tax incentive for outlets wouldn’t be a surprise, “Because these facilities they provide jobs, they provide entertainment options and if that levy were lowered you would have more success for them and encourage others to open them.
The US sportsbooks duelling it out
So, which operators came out on top in Ohio? Lets take a look at who took in the lions share of Novembers massive revenue.
FanDuel held the top spot with 35% of the month’s wagering at $351.1 million, followed by DraftKings, who took a 33% share at $329.9 million.
In terms of revenue, the gap between the two becomes more evident, with FanDuel hitting $46.5 million against DraftKings $37.9 million.
Third on the list, weve got bet365 with $76.6 million, followed closely by BetMGM at 72.3 million.
Fanatics closed out the top 5 with a monthly handle of $54.6 million, a state record for their sportsbook offering.
In total for the month of November, Ohios sports betting revenue came in at $116.9 million, a substantial jump of 72% from last years decline in November revenue. All in, 2024 was a resilient year for Ohio, with the year ahead showing no sign of slowing down.
Subscribe to SiGMAs Top 10 News countdown and SiGMAs weekly newsletter to stay up to date with all the latest iGaming News from the worlds iGaming authority, and benefit from subscriber-only offers.
