Ohio Saw Over $1 Billion in Sports Betting Wagers During November

Ohio’s sports betting market just had one of its busiest sports betting months since it launched in January 2023.

According to the Ohio Casino Control Commission (OCCC), the state saw just over $1 billion in sports betting wagers during November. That led to over $117 million in taxable revenue for sportsbooks. Those are the second-highest numbers Ohio has seen for both categories, only falling short of the numbers from the market’s opening month.

The busy month led to $23.4 million in tax revenue, which funds education and youth sports leagues.

FanDuel led all sportsbooks with $351 million in wagers for the month. That beat out DraftKings, which finished the month with a handle of $329 million. Bet365 also had a fantastic month but finished in a distant third at $76 million.

November’s numbers showed that ESPN Bet is continuing to lose the battle against Fanatics. The rivals launched around the same time and compete nationwide for the same market share. Fanatics finished two spots ahead of ESPN for the month, beating them out by over $22 million.

Ohio Considering Cut to Tax Rate

An Ohio Senator proposed a bill for 2025 that would reduce the tax rate to 10%. This was the rate when the market launched, but lawmakers decided to double it last year.

Supporters of the bill believe that doubling the tax rate harms the long-term growth of the state’s sports betting markets. They echo the arguments shared by sportsbook operators, who have insisted they will water down odds and offer fewer promotions when taxes increase. This would hurt the average Ohio bettor and could lead to many quitting.

Those fears have prevented many other states from raising their rates, but Ohio’s recent success shows sportsbooks be bluffing. The market is thriving, and sportsbooks remain competitive as they fight for market share. If the success continues, it could inspire many other markets to follow Ohio’s lead.