(The Center Square) – Ohioans bet nearly $4 billion in the first six months of legal sports wagering in the state, despite a continued drop in handle during June.
For the fourth time in five months, the state’s total amount bet dropped in June, down 18.9% from May, according to figures recently released by the Ohio Casino Control Commission. Total sports betting revenue fell 43.7% from May to June.
The dip is typical, according to industry analysts who expect July to be another slow month before football returns in August.
“Like its counterparts in other states, the Ohio sports betting market is feeling the June swoon,” said Dru James, analyst for BetOhio. “Revenue was also down in June by 43.7%, which is a steep decline but in line with mature markets for the month. Looking ahead, July will likely be another month of decreases, but in a smaller margin than the most recent months. These numbers should start looking up in August and September as sports return to the calendar and bettors return to the sportsbooks.”
The state’s most significant drop came at kiosks, a 22.7% fall despite the number of kiosks increasing in the month. Mobile and brick-and-mortar betting also had decreases.
Despite the continued summer decreases, PlayOhio analysts believe the state remains positioned to beat initial projections of $8 billion wagered in the first year of legal betting.
“Through its first six months, Ohio’s sports betting market has proven to be robust – both in its offerings and betting volume. With nearly $4 billion in betting volume so far in 2023, Ohio is on track to push past PlayOhio’s initial projection of $8 billion in 2023 – perhaps significantly,” PlayOhio Managing Editor Danny Cross said. “Betting will heat up again with the start of the NFL season, and Ohioans are certainly going to be engaged with the Cincinnati Bengals and Cleveland Browns entering the season with significant hype.”