Ohio Sportsbooks Set Remarkable Sports Betting Report for April

In the latest gambling industry news, we bring you an interesting report on the Ohio sports betting market. This April’s report seems like your average monthly report, with a good revenue hike despite a drop in betting handle. But if you take a look at the sports betting statistics for Ohio sportsbooks, betting activity in the state continues to be one of the highest in the country. And the local market set a major milestone back in April.

Ohio Sportsbooks Metrics for April

Ohio Sportsbooks Set Remarkable Sports Betting Report for AprilAccording to the latest report from the Ohio Casino Control Commission, the total monthly sports betting handle for Ohio sportsbooks is at $673.2 million in April. This marks a 16.7% drop in handle from March’s handle of $808.2 million. The decline in handle during April is normal for US betting markets. This is due to the decreased number of sports betting events. College basketball has just ended, and no football leagues are running. Even so, betting on the NBA, the MLB, the NHL, and other sports events is enough to maintain a good enough handle.

It is worth noting that the handle is 29.3% higher than April 2023. We are seeing a satisfactory increase in year-on-year betting activity. The same goes for revenue, which increased by 16.7% from the same period last year. Revenue is at $73.9 million for April, with a 10.98% hold. Revenue is 15.8% higher than that of March’s $63.8 million. When you run your own online sportsbook, you can use our pay per head software to generate sportsbook reports. This will help you keep track of your sportsbook’s metrics easily.

A New Milestone for the Ohio Sports Betting Market

Ohio Sportsbooks Set Remarkable Sports Betting Report for AprilAs you can see, the report on sports betting for April looks like any other report. But in the sports betting industry, we like to keep track of numbers well. For instance, Ohio has a year-to-date revenue of $317.1 million. This is a good rate of revenue especially since we are only looking at the first four months of the year. The numbers can easily triple if the market can sustain their numbers.

But even more remarkable is that April’s handle now brings the total lifetime betting handle of Ohio to $10 billion. This is such a great achievement to hold because Ohio now holds the industry record for the fewest months to reach $10 billion in wagers. Ohio is also now on the list of only 12 states throughout the country that have a total handle of $10 billion.

Ohio Sports Betting Market: What to Expect

Ohio’s sports betting market is a lot younger than other states. The Buckeye State opened sports betting to its residents only on January 1, 2023. In its first year of operations, sportsbooks in the states generated nearly a billion in gross revenue. Given the year-on-year increase in numbers, we are likely to see sportsbooks continue to perform better in the next few years.

And given the success of sports betting in the state, especially online sports betting, legislators are looking at expansion. There is now a commission at the Statehouse that is studying the impact of iGaming in the state. They are expected to issue their recommendations by the end of June. If the reception of iGaming in the state will be positive, then maybe in a few years we can also see a billion-dollar online casino market in Ohio.

 

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