Ohio Sports Betting Sees Year-Over-Year Growth Despite Monthly Decline
Ohio’s sports betting handle for June 2024 totaled $530.6 million, marking a 13.4% decrease from May. However, compared to the same period last year, this figure represents a 46% handle increase.
Revenue and Operator Winnings
The Ohio Casino Control Commission and Ohio Lottery reported an adjusted gross sports betting revenue of $51.3 million for June, which is a 24% decline from May.
Despite this monthly drop, operator winnings saw a notable year-over-year increase of 56.8%/
The vast majority of the wagering activity took place through the state’s 15 retail sportsbooks and 19 sports betting apps.
The kiosks managed by the Ohio Lottery contributed a handle of $814,200 and generated $49,600 in adjusted gross revenue.
In June, Ohio collected nearly $10.3 million in taxes from sports betting activities, bringing the year-to-date total to $87.6 million.
Betfred Leaves Ohio
Betfred has recently decided to cease operations in Ohio by August 31. The departure follows the company’s recent exit from Maryland’s online and retail betting market.
Bettors in Ohio will be able to make deposits until July 31 and place bets until August 14. All accounts must be closed by August 31, and any balances not withdrawn by that date will be issued by check within 30 days.
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