If there is one thing in the sports betting industry that is consistent, it would be the surge in betting activity every September in the US. As the football season starts, both professional football (NFL), and collegiate football (NCAA Football) provide bookies with a lucrative income stream. And when you take a look at the latest numbers in sports betting in Ohio, you will see that football betting is doing its magic. Given how popular the local football teams are, its no surprise to see Ohio’s numbers rise this much.
According to the latest report from the Ohio Casino Control Commission, the total monthly sports betting handle for the Buckeye state for September is $690.4 million. This is a jaw-dropping 82% jump from the previous month. This is also the third-highest monthly handle the state’s sportsbooks have seen in over nine months of sports betting. As a bookie, you can also easily check your sportsbook’s handle and see how much it has grown since football season started with the help of our betting software.
Sports Betting in Ohio Sees Wagering Numbers Rise
The state also reports an impressive 11.7% hold, which helped sportsbooks declare around $81.7 million in taxable revenue. If you want to see how sportsbooks are able to generate the data easily, this sportsbook pay per head demo will show you how, and more.
The hold percentage also maintains its double-digit status for the third consecutive month, meaning, we are looking at a good trend-revenue wise. For instance, September’s revenue is actually 100% higher than that of August’s, and is the fourth highest handle this year. This brings the total taxable revenue for the year at $699.1 million. It might be quite a tall order to expect the local industry to hit $1 billion in revenue for the year. But if they would, it would be unsurprising.
Ohio offers both retail and online sports betting to their residents. But as with any market that offers both platforms, online sports betting takes in more volume. They account for 97% of the total handle for September. But retail sportsbooks are not to be left behind, seeing a 53.7% increase in monthly handle. And for the first time since March, majority of retail sportsbooks were able to generate a handle of $1 million each for the month.