Ohio Sports Betting Handle Could Surpass $8 Billion During Year 1

Ohio Sports Betting Handle Could Surpass $8 Billion During Year 1
Fact Checked by Michael Peters

As the calendar flips forward to December, we’re now exactly a month away from the first of the year, which happens to be the opening day.

Sportsbooks are slated to go live at the stroke of midnight Jan. 1, setting the stage for what should be one of the most anticipated launches in American sports betting. Bettors are surely eagerly awaiting the opportunity to use a bet365 Ohio promo code

The Buckeye State will become the first state to launch in 2023 and follow Maryland and Kansas, which launched late in 2022.

BetOhio.com wanted to get a sense of what the handle could look like in 2023.

Using Arizona — a state of similar size that recently finished its first full year of sports betting operation — as a benchmark, we were able to get a feel for what Year 1 might look like.

As online launch draws near, come to BetOhio.com for all the Ohio betting promos.

Select States in Their First Year of Sports Betting

State Population 1st-Year Handle Dollars Per Resident
Ohio 11.8 million $8.81 billion* $746.64*
Arizona 7.28 million $5.43 billion $746.64
Arkansas 3.01 million $109.6 million** $36.42**
Colorado 5.8 million $2.3 billion $399.96
Illinois 12.67 million $5.5 billion $433.78
Indiana 6.8 million $1.2 billion $176.66
Iowa 3.2 million $391 million $122.46
Kansas 2.9 million $350.4 million*** $119.29***
Louisiana 4.66 million $1.85 billion $396.99
Michigan 10.1 million $1.98 billion $197.80
Montana 1.1 million $27.8 million $25.15
Pennsylvania 13.0 million $1.165 billion $89.61
Tennessee 6.9 million $2.3 billion $333.33
Virginia 8.6 million $3.22 billion $373.26
Washington, D.C. 689,545 $34.7 million $50.25
Wyoming 576,851 $135.8 million $235.42
* — BetOhio.com projections
** — Since March 2022 mobile launch
*** — Since Sept. 2022


 
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Ohio Sportsbooks Set for Historic Start in 2023

There’s no doubt operators have long had their eye on the state of Ohio, given its sports-rich culture and sizable population base. 

We can deduce Ohio sportsbooks will quickly become some of the biggest revenue draws in the nation, based on the size of Ohio’s population (11,799,448) and the initial year performance of our comparison state. That should mean big things are coming for operators like Caesars Sportsbook Ohio.

Like Arizona, Ohio also has access to at least one NFL, MLB, NHL and NBA team and has one of the strongest Power Five college programs in Ohio State.

Although Arizona launched in September to take full advantage of the NFL and college football seasons — the high water mark of the American sports betting calendar — Ohio will be bolstered by the NFL playoffs, the NBA and NHL regular seasons and the heart of the college basketball schedule.

And there will be plenty of BetMGM Ohio promotions, as well as promos from other major operators looking to draw in customers.

The two states aren’t too different population-wise, with Ohio having 11,799,448 residents to Arizona’s 7,151,502.

In Year One, Arizona sportsbooks took in $5.4 billion in wagers, averaging out to $746.64 per resident.  

Assuming Ohio bettors wager in similar volumes, we can project the Buckeye State will see $8.8 billion worth of wagers during the first calendar year of operation, which averages out to $734.16 million per month.

 
Must be 21+ and present in OH. Gambling Problem? Call 1-800-GAMBLER

Where Ohio Sports Betting Projections Rank Nationally

The Buckeye State would rank second nationally among all U.S. states’ first year mobile wagering totals, behind New York’s $13.668 billion (between Jan. 8 and Nov. 13).

Ohio’s $8.8 billion projection would rank ahead of some of the nation’s cornerstone sports betting markets, like Illinois ($5.5 billion), Arizona ($5.43 billion), and Virginia ($3.22 billion).

We’re still a month away from the opening day of Ohio sports betting, but we already can see why sportsbook operators are salivating at the opportunity presented by the Buckeye State.  

It appears operators will get their New Year’s wish, with the Ohio sports betting scene kicking off in earnest as the ball drops on Jan. 1.

 
Must be 21+ and present in OH. Gambling Problem? Call 1-800-GAMBLER.
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Contributors

Christopher Boan writes for BetOhio.com and has been covering sports and sports betting for more than seven years, with experience at ArizonaSports.com, the Tucson Weekly and the Green Valley News.

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