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Ohio Sees its Sports Betting Handle Fall by more than 40% in Its Second Month

The 2nd month of legal sports betting in Ohio didn't come close to January's extraordinary launching.
According to figures launched 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 debut.
However, that's not always bad news, as surpassing the very first month's deal with was a nearly impossible feat.
Regardless, only New York City ($1.47 billion), New Jersey ($847.4 million), and Nevada ($659 million) have reported a higher February manage than Ohio. The Buckeye State, which imposes a 10% tax, saw sportsbooks haul in $82.9 million in taxable earnings, which was below the previous month's $208.9 million profit.
Sportsbooks integrated to hand out $59.1 million in promotional credits, including $38 million integrated from FanDuel and DraftKings. That's well listed below the $320 million in perk bets and credits that were offered away in the very first month.
FanDuel and control
A month after declaring an astonishing 18.8% hold, sports wagering in Ohio saw books still keep the win rate around 13% in February. Online sports betting sites made up 97% of Ohio's February deal with.
FanDuel and DraftKings combined to account for 72% of the handle and 77% of the taxable earnings. FanDuel removed its rival with a handle 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 profits of $24.5 million.
Through the very first two months of online sports wagering being legal in Ohio, FanDuel and DraftKings have a combined deal with of $1.3 billion. Meanwhile, BetMGM was available in third in February amongst online sportsbooks with a manage of $46.1 million, plus another $1.6 million from retail locations.
As an entire, 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 best retail handle at $2.7 million, but it paid out about $2.6 million in earnings to wagerers. Hard Rock Cincinnati (Seminole Acid Rock Digital) and Jack Thistledown (BetJACK) were the only other retail books to reach $2 million in handle.