(The Center Square) – As football returned in August, so did Ohio’s gamblers and their money.
Gambling revenue grew 10% in August over July, and industry analysts expect it will grow.
After four months of declines, online betting operators took in $364.3 million, while in-person sportsbooks had another $14.5 million, according to PlayOhio. At the same time, online sportsbooks reported nearly $40 million in profits and retail sportsbooks reported $1.3 million in profits.
“We can expect the numbers to continue their upward trajectory,” said Steve Schult, managing editor at PlayOhio. “September’s numbers will include a major bump from the start of the NFL season. And October will add the start of the NHL, NBA and playoff baseball to the mix.”
Since legal sports wagering launched earlier this year, Ohio online and retail sportsbooks have handled more than $4.5 billion in bets while recording $617.3 million in taxable gaming revenue, PlayOhio reported.
Ohioans bet more than $1 billion in January when sports gaming became legal in the state, but that number fell to $621.1 million in February. It rebounded in March during the NCAA men’s basketball tournament to $715.3 million.
Ohio’s new budget, signed into law by Gov. Mike DeWine in July, contains a gambling tax increase paid by sports betting operations from 10% to 20%.