CINCINNATI — Ohio opened its sports betting market with $1.1 billion in January wagers, according to the Ohio Casino Control Commission.
That's the second-strongest start among the 36 states to have legalized sports betting so far, second only to New York's $1.8 billion debut month last January.
And it likely means Ohio will finish 2023 on the high end of industry projections of up to $12 billion in annual bets.
"Certainly, this strong start would suggest Ohio’s going to have a robust sports-betting market for a long time," said Casey Clark, senior vice president for the American Gaming Association. "Our estimates that came out a few years ago put it at a little over $9 billion.”
Ohio's January handle is expected to generate about $20 million in new tax revenue for the state. That’s based on Ohio's 10% tax rate and the $208.9 million in taxable revenue, generated by the 16 online sports books and 14 retail sports books that opened last month.
It wasn't a surprise that FanDuel debuted as the largest online sports book, with $494.2 million in total bets, or 45% of Ohio's first-month handle. DraftKings came in second at $344 million, or 31%. BetMGM was a distant third at $82.1 million, 7.3%.
Among retail sports books, downtown’s Hard Rock Cincinnati Casino led Ohio with $4.4 million in bets. Belterra Park, Miami Valley Gaming, FC Cincinnati and the Cincinnati Reds combined for $1.4 million in first-month revenue.
Earlier this month, the Ohio Lottery Commission released the results of kiosk betting at 772 locations in Ohio. Total bets at those locations were $850,336, or roughly $1,100 per location.
