Ohio sports bettors placed $7.7 billion in bets in 2023. Here's where they won the most
During the first year of legalized sports gambling in Ohio, gamblers placed $7.7 billion in bets, more than double initial projections.
About 97% of the revenue came from bets placed online. Only about 3% of the revenue came from bets placed at retail locations, such as at one of Ohio's casinos or racinos or at sportsbooks located in an arena or stadium.
Ohio bets brought $937 million in revenue to casinos and sports betting sites, according to data collected by the Ohio Casino Control Commission. The remaining money was paid out in winnings.
Ohio legalized sports betting in 2021 after a U.S. Supreme Court ruling in 2018 struck down a federal law that previously banned sports gaming in most states and making it legal nationwide. It's now legal in 38 states.
The law in Ohio went into effect in 2023.
Where did Ohioans win the most?
Ohio has 17 brick-and-mortar locations where sports gambling is legal, along with 20 authorized online or app-based sports gambling vendors whose ads you're probably familiar with if you've watched any sporting event in recent years.
Payouts on some online platforms totaled in the billions, with ubiquitous brands like Fanduel and Draftkings topping the list, respectively.
To offer sports betting online or via app, gaming proprietors must have a physical place of business in Ohio with multiple employees. Many gaming sites partnered with existing casinos to meet this criteria.
Here are the top five sites by gambling payouts in 2023:
Belterra Park (Fanduel): $2,307,582,985
Hollywood Toledo (Draftkings): $2,216,121,030
MGM Northfield Park (BetMGM): $439,702,023
Cleveland Guardians (Bet365): $369,376,123
Hollywood Columbus (Barstool): $336,088,905
The gulf between app-based and online betting versus in-person betting at brick-and-mortar establishments was vast.
According to Ohio Casino Control Commission data, Hollywood Columbus topped the list of highest retail location payouts to players:
Hollywood Columbus: $34,564,911
Jack Cleveland: $24,004,901
MGM Northfield Park: $23,688,325
Hard Rock Cincinnati: $23,121,151
Hollywood Gaming at Dayton Raceway: $15,846,460
When did Ohioans place the most bets?
The year started off strong – January 2023 was by far the most popular month for betting. Ohioans placed $1.1 billion in bets during the first month of the year. The next biggest month was March, when gamblers placed $737 million, likely due to the popular NCAA March Madness tournament.
The summer was the slowest season with the worst month coming in June, when only $362 million in bets were placed.
How do the totals compare to projections?
Legalized sports gambling more than exceeded projections made ahead of the start of the first year. The totals so far dwarf expectations of Ohio lawmakers and officials, who predicted a $3.35 billion sports betting market by mid-2024.
PlayOhio, a gambling news organization, made predictions that hit closer to the mark, projecting $8 billion in bets in 2023.
Where does the tax revenue go?
Sports betting revenue for casinos, gambling sites and other providers is taxed at 10%. Winnings are taxed as income, and businesses with gambling licenses also pay fees.
Of the revenue, 2% goes toward gambling addiction resources and 98% to interscholastic and youth programs.
bagallion@dispatch.com
This article originally appeared on The Columbus Dispatch: Where sports bettors won the most during Ohio's first legal year
