The 2nd month of legal sports wagering in Ohio didn't come close to January's unbelievable 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 necessarily bad news, as exceeding the very first month's manage was an almost difficult accomplishment.
Regardless, only New York ($1.47 billion), New Jersey ($847.4 million), and Nevada ($659 million) have actually reported a greater February deal with than Ohio. The Buckeye State, which imposes a 10% tax, saw sportsbooks transport in $82.9 million in taxable revenue, which was below the previous month's $208.9 million profit.
Sportsbooks combined to give out $59.1 million in marketing credits, including $38 million integrated from FanDuel and DraftKings. That's well below the $320 million in reward bets and credits that were handed out in the very first month.
FanDuel and DraftKings dominate
A month after claiming an impressive 18.8% hold, sports betting in Ohio saw books still keep the win rate around 13% in February. Online sports betting sites comprised 97% of Ohio's February deal with.
FanDuel and DraftKings integrated to represent 72% of the deal with and 77% of the taxable income. FanDuel removed its rival with a deal with 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 earnings of $24.5 million.
Through the very first two months of online sports betting being legal in Ohio, FanDuel and DraftKings have a combined handle of $1.3 billion. Meanwhile, BetMGM can be found in 3rd in February amongst online sportsbooks with a deal with of $46.1 million, plus another $1.6 million from retail areas.
As a whole, 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 deal with at $2.7 million, but it paid out about $2.6 million in payouts to gamblers. Hard Rock Cincinnati (Seminole Hard Rock Digital) and Jack Thistledown (BetJACK) were the only other retail books to reach $2 million in manage.
