Ohio’s sports betting companies have reported an overall handle of $521.7 million in April, according to data released by the Ohio Casino Control Commission. The total was down from the $738.6 million bet in March. Every type of betting, including mobile betting apps, sportsbooks, and Lottery betting kiosks, saw fewer bets.
It’s been sort of a downward trend for sports betting in the state, with $639.8 million in February and $1.1 billion in January. April saw a nearly 30% drop in betting volume with fewer high-profile events.
According to the report, the state’s 18 mobile betting apps took in $505.6 million in bets, down from $715.3 million in March. It should be noted that Fanatics, Ohio’s 18th mobile betting option, launched in April. Online sportsbooks continue to dominate the market, accounting for over 97% of all wagers placed in March.
Apps are also giving out fewer promotional credits — like the “bet $5, get $200” deals — that count as money bet. Bettors used $24.2 million worth of promotional credits in April, down from $44.5 million in March.
The Lottery’s betting kiosks took in $1.1 million in bets in April, down from $1.4 million in March. It should be noted that this was the kiosks’ second-strongest month since betting became legalized. Meanwhile, sportsbooks took in $14.9 million in bets, down from $21.9 million in March.
After paying out winnings and voided wagers, the state’s 14 physical sportsbooks took in $1.5 million in revenue in April, down from $2.8 million in March. The mobile betting apps combined took in about $62.2 million in revenue in April.
Combined, about $3 billion worth of bets have been placed so far at the sportsbooks, mobile betting apps, and gaming kiosks. This has netted about $449 million in taxable revenue — which will send about $45 million to the state in the form of taxes.
Original article: https://www.yogonet.com/international/news/2023/06/06/67416-ohio-sports-betting-handle-down-to-5217m-in-april-all-wagering-modalities-see-fewer-bets
