We at BetOhio.com, your home for expertise on all Ohio sports betting topics, put together this guide to explain terms such as handle, revenue and tax collections.
Ohio began its legal sports betting market on Jan. 1, 2023. The Buckeye State offers a variety of operators, and ways to bet, like no other jurisdiction. Ohio has more than two dozen outlets for either online or retail sportsbooks, with the latter being located mostly at casinos or racinos (the term for racetracks with slot machines). Ohio also offers hundreds of sports betting kiosks at businesses around the state.
Many professional sports teams in Ohio have partnerships with national sports betting brands to operate online sportsbooks. For instance, the Cleveland Cavaliers are partnered with Betway Ohio. The Cincinnati Bengals have a deal with Betfred. The NHL’s Columbus Blue Jackets partner with Fanatics, the state’s two Major League Soccer teams have sportsbook deals (FC Cincinnati with Superbook and the Columbus Crew with Tipico Ohio) and even Muirfield Village Golf Club got in on the action, teaming with Parx Interactive.
As is the case in every state that offers legal, regulated sports betting, the vast majority of wagers are placed by folks using online operators to place bets at of Ohio sportsbook apps, using their smart phones, laptops or desktop computers.
In addition to those pro sports teams and facilities that have joined with online operators, there are retail sports betting outlets for in-person betting. The Cincinnati Reds have a retail BetMGM Sportsbook in Ohio and the Cleveland Cavaliers have a similar partnership with Caesars. The state’s four casinos and seven racinos also each have partnerships for retail sportsbooks.
Ohio sports betting handle continued its downward trend as operators reported a total of $331,931,139 wagered for July.
According to Ohio Casino Control Commission data, the handle reported by online operators and brick-and-mortar locations fell by 8.6% from the $363,066,723 reported in June.
Online operators, which have Type A licenses in Ohio, remain by far the preferred option for Ohio sports bettors. The state’s 18 licensed apps combined to accept $319,582,412 of the wagers in July, down 8.3% from June’s total of $348,377,229. The brick-and-mortar sportsbooks, which have Type B licenses and are located at casinos or in or near professional sporting venues, took $11,501,586 in bets in July, a drop of 16.3% from the previous month’s $13,734,690.
Ohio has a third option for sports bettors, kiosks available at certain state lottery retailers. The kiosks, which fall under the Type C license, reported a total handle of $847,141 for July, according to data from the Ohio Lottery Commission. The kiosk handle dropped 11.3% from June, even as the number of kiosks available rose to 940 in July from 939 in June.
While the handle continued to fall, revenue jumped almost 14% to $37,225,440. Promotional gaming credits given by online operators totaled $10,701,998 in July, down from $14,851,705 utilized in June. Operators cannot deduct those credits from their revenue totals.
There’s also a new top operator in terms of handle. DraftKings, a partner with Hollywood Casino Toledo, reported an online handle of $116,183,262 last month. FanDuel, the previous No. 1 and a partner with Cincinnati’s Belterra Park, reported a handle of $106,671,356. However, FanDuel remained the top operator in terms of revenue, posting $13,999,953 in win versus DraftKings’ $11,802,470.
Ohio’s four casinos and seven racinos reported combined revenues of $203,490,890 in July. That was a 5.1% increase from June’s $193,550,422. Racino revenue rose 6.1% to $117,540,311, while the casinos saw their win increase 3.8% from June to $85,950,579.
Sports betting with legal, regulated operators began in Ohio on Jan. 1, 2023.
As of July 2023, Ohio imposes a 20% gambling tax on all mobile and retail sports betting operators. The state initially levied a 10% tax on sports betting proceeds.
The Buckeye State releases its monthly sports betting figures on the final day of the following month. If that day falls on a weekend, the figures come out on the next business day instead. Many online operators offer Ohio sports betting promo codes to their customers.
Most of the tax money generated from Ohio sports betting will be earmarked toward the General Revenue Fund for schools. The state also sets aside 2% toward helping to curb problem gambling, and 0.50% of license fees go to a fund for veterans.
The Ohio Casino Control Commission oversees sports betting at online and retail sportsbooks in Ohio. The Ohio Lottery Commission oversees spots betting kiosks and releases figures from those machines, which are scattered at business establishments around the state.
Mobile sports betting handle is the amount of money wagered on sporting events by people using online devices, such as desktops, laptops or mobile phones.
Handle (or as Ohio calls it, total gross receipts) is the amount bet within a state each month on sports – only people physically located within a state can use legal, regulated sportsbooks to place bets. Revenue is the money left after operators pay out winnings to bettors – in Ohio, revenue from mobile operators is calculated using the following formula: Handle minus winnings paid minus voided wagers. Promotional deductions are not accounted for in Ohio’s revenue formula.
Cited by leading media organizations, such as: