spot_img

Ohio sports gambling numbers tumble in February

Date:

spot_img

(The Center Square) – Ohio in February compared to January took in more than 60% less in taxes on the backs of sports gamblers who wagered nearly 20% less.

Industry experts, however, believe the fall is typical.

Ohio gamblers bet $672 million in February, $140 million less than in January, and the state took in $13.4 million in taxes. In January, Ohio reaped more than $22 million in taxes.

It was the lowest tax output since November.

“The typical ebbs and flows of the American sports betting calendar reared their ugly head for Ohio sports betting operators in February, with a 17.2% drop in total handle and a 41.4% decline in revenue during the month,” said Christopher Boan, a BetOhio analyst.

Despite the fall from January, February’s numbers were up 5.1% from a year ago, the second month of legal betting in the state.

Boan expects March numbers to rebound with the beginning of the NCAA men’s and women’s basketball tournaments, the return of baseball and continued wagering on professional soccer and hockey.

“Looking forward, BetOhio is looking at March to be a bounce-back month for Ohio due to an expected uptick in month-over-month handle related to the NCAA’s March Madness tournament,” Boan said.

In terms of market share, FanDuel Sportsbook ($222.1 million), DraftKings Sportsbook ($221.2 million), Bet365 ($44.6 million), BetMGM ($42.6 million) and ESPN BET ($40.9 million) were the top entities in February, according to BetOhio.

Read the Black Chronicle Black History Edition for Free! Click Below

Read the Black Chronicle Black History Edition for Free! Click Below

spot_img
spot_img

Subscribe

Share post:

Popular

More like this
Related

Measure addressing cold cases could further stress Illinois police departments

(The Center Square) – Illinois legislators and gun-control advocates...

Johnson risks his job over Israel, Ukraine votes

House Speaker Mike Johnson, R-La., has set up a...

Unincorporated King County minimum wage hike bill passes out of committee

(The Center Square) – A proposed bill that would...

Ohio taxpayers losing hundreds of thousands of dollars to scams

(The Center Square) – At least 23 government offices...