The second month of legal sports wagering in Ohio didn't come close to January's amazing debut.
According to figures released by the Ohio Casino Control Commission on Friday, the Buckeye State took in $638.8 million in sports wagers - down 42.6% from January's $1.1 billion launching.
However, that's not always bad news, as exceeding the first month's handle was an almost difficult accomplishment.
Regardless, only New York ($1.47 billion), New Jersey ($847.4 million), and Nevada ($659 million) have reported a greater February manage than Ohio. The Buckeye State, which imposes a 10% tax, saw sportsbooks take $82.9 million in taxable earnings, which was below the previous month's $208.9 million earnings.
Sportsbooks integrated to distribute $59.1 million in marketing credits, consisting of $38 million integrated from FanDuel and DraftKings. That's well listed below the $320 million in benefit bets and credits that were provided away in the first month.
FanDuel and DraftKings control
A month after claiming an astonishing 18.8% hold, sports wagering in Ohio saw books still keep the win rate around 13% in February. Online sports wagering sites made up 97% of Ohio's February deal with.
FanDuel and DraftKings integrated to account for 72% of the manage and 77% of the taxable revenue. FanDuel took down its rival with a manage of $233.3 million and taxable income of $38.4 million for a win rate of 16.4%. DraftKings wasn't far behind with $214 million in sports bets accepted, with profits of $24.5 million.
Through the very first 2 months of online sports betting being legal in Ohio, FanDuel and DraftKings have a combined deal with of $1.3 billion. Meanwhile, BetMGM can be found in 3rd in February among online sportsbooks with a manage of $46.1 million, plus another $1.6 million from retail areas.
As an entire, retail wagers at the 14 brick-and-mortar sportsbooks fell from $23 million in January to $17.7 million in February.
Hollywood Casino Columbus (Barstool) had the very best retail handle at $2.7 million, but it paid out about $2.6 million in earnings to bettors. Hard Rock Cincinnati (Seminole Acid Rock Digital) and Jack Thistledown (BetJACK) were the only other retail books to reach $2 million in manage.
