Ohioans placed more than $1 billion in sports bets the first month it was legal

Max Filby, The Columbus Dispatch
·3 min read
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Bettors wagering on sporting events on Jan. 1 -- the first day sports betting became legal in Ohio -- at the physical sportsbook at Eldorado Gaming Scioto Downs on Columbus' Far South Side.
Bettors wagering on sporting events on Jan. 1 -- the first day sports betting became legal in Ohio -- at the physical sportsbook at Eldorado Gaming Scioto Downs on Columbus' Far South Side.

Gamblers across Ohio spent $1.1 billion on sports betting in January — the first month sports gambling was legal in the state.

Those bets resulted in $208.9 million in revenue for sportsbooks across the Buckeye state, according to figures released by the Ohio Casino Control Commission on Tuesday. Ohio has a 10% tax on sports betting revenue, meaning the state made roughly $20.89 million in tax revenue from January wagers.

Ohioans walked away with more than $883.6 million in winnings, data shows. Sportsbooks also gave away nearly $320 million in promotional credits, many of which were advertised to prospective gamblers for months throughout Ohio.

Read More:Sports betting ads broke state law. What can Ohio do to stop it from happening again?

“Legal sports betting’s strong start in Ohio is a direct reflection of residents moving away from predatory offshore sites and bookies for the protections of regulated sportsbooks," Casey Clark, senior vice president at the American Gaming Association said via email. "Because of the state’s regulatory framework, legal operators can offer a competitive product that appeals to consumers and has already brought in more than $20 million in taxes and $39.4 million in licensing fees to the state.”

The figures released Tuesday include online sports gaming and in-person retail sports gaming.

Sports bets placed online made up the bulk of wagers, with $1.09 billion in bets made online in January, according to the commission. Nearly $23 million in sports bets were placed at retail locations, such as at one of Ohio's casinos or racinos or at a sportsbook located in an arena or stadium.

In Columbus, Ohioans spent $49 million in sports bets online and in-person at Hollywood Casino's Barstool Sportsbook. Scioto Downs in Columbus saw $33.3 million in bets placed online and in person through Caesars Sportsbook, data shows.

Kiosks that offer sports gambling are overseen by the Ohio Lottery Commission.

Read More:A decade after casinos opened, Ohio takes a bet on sports

Ohioans placed $850,336 in bets at kiosks, resulting in $116,040 in revenue in January, according to the state Lottery Commission. Of the total revenue, $87,664 went back to the owners of the kiosks while $28,376 went to the lottery.

Ohio's first month of sports gambling is likely to grow the industry as a whole substantially.

In 2022, Americans placed $93.2 billion in legal sports bets, and the companies they wagered through collected $7.5 billion in revenue, according to the American Gambling Association. It was a record-setting year for sportsbooks.

The U.S. Supreme Court in 2018 struck down a federal law that previously banned sports gaming in most states, paving the way for it to become legal throughout the country.

Ohio budget officials estimated a $3.35 billion sports betting market, bringing in $24 million in taxes by mid-2024. PlayOhio, a gambling news organization, projected an even larger number: $8 billion in bets in 2023.

Of the sports betting tax revenue collected, 2% of it will go to combat gambling addiction.

mfilby@dispatch.com

@MaxFilby

This article originally appeared on The Columbus Dispatch: Ohioans spent $1.1 billion in sports bets first month it was legal