The Ohio Casino Control Commission and Ohio Lottery reported a combined $67.7 million in adjusted gross sports betting revenue for February on Monday, narrowly eking out a double-digit hold for the month.
Handle from all sources totaled $672 million, up 5% from February 2023, which was the second month of wagering in the Buckeye State following its launch on New Year’s Day 2023. Wagering via sports betting apps totaled $657.7 million; retail handle was $13.4 million; and betting through kiosks accounted for the remaining $892,000. Handle was down 20.8% compared to January, while revenue slacked 40% as the hold for the opening month of 2024 nearly touched 14%.
The 10.1% hold marked the 12th time in 14 months it reached double figures, with only June (9%) and November (7.9%) falling short. It was the ninth-highest revenue haul for operators, but 18.4% lower compared to last year, as the win rate 12 months prior was just shy of 13%.
Promotional spend in Ohio was also down notably compared to last year at $28.3 million, 52.2% lower than the $59.1 million in credits and bonuses operators provided bettors as part of a wild spending spree the first three months in which $423.6 million worth of goodies were offered.