The Ohio Casino Control Commission reported adjusted gross sports betting revenue of $113.5 million for January on Thursday, becoming the quickest state to $1 billion in operator winnings.
A 45.8% plunge in revenue from 2023 considering Ohio had set the post-PASPA monthly all-time high at $209.1 million last year is not bad. It was only this year that New York reclaimed that No. 1 spot. Operator winnings, though, were up 30% compared to December as the 14% hold was nearly 3.5 percentage points higher.
The Buckeye State is the 11th state where operators reached $1 billion in sports betting revenue and by far the fastest in just 13 months, with Arizona holding the previous standard at 25 months. New York needed 10 months to reach that threshold after introducing sports betting apps in January 2022.
Year-over-year handle was down 27.2% to $811.6 million, though the downturn in wagers could be attributed to the sharp fall-off in promotional spend to start the second year of betting. Wagering was down 2.3% compared to December but still fourth overall.