Ohio Sports Betting In October: Handle Up, Promos Down

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Ohio sports betting

Several Ohio sports betting apps increased handle share in October, as overall wagering volume increased through the market’s first full season of football betting.

According to figures released Thursday, FanDuel made the most significant gains, taking in $258 million, or 36% of all online betting dollars during the month, up from 31% in September.

Caesars Sportsbook, with $35.3 million in online bets, joined in on the Ohio sports betting handle gains, claiming a 4.9% share, up from 4.5% in September.

Ohio sports betting market movers

Bet365 maintained its 6% handle share from September with $43.3 million in October bets. Bet365 continues to stick in the top end of Ohio sports betting handle partially because of generous promotional play this year.

After its mid-September launch, Prime Sports took in $366,000 in bets during its first few weeks of OH sports betting. Prime Sports boosted October handle to $2.3 million with no promotional offers.

Fanatics, which enjoyed decent spikes in betting volume in recent months, saw handle level off in October. Its $24.2 million online handle was about $668,000 more than September, but Fanatics handle share dropped slightly to 3.4%.

OH sports betting handle in October

DraftKings accepted $258 million in online October bets, in line with FanDuel.

However, DraftKings’ online market share dropped from 39% in September to 36% in October.

Overall, online sports betting in Ohio reached $719.6 million, up 8.5% from the $662.8 million in September handle, which kicked off the market’s first full season of NFL betting.

October promo spending drops off

Overall promotional spending dropped off in October, which is typical across the industry.

Ohio sports betting promos gave away $38.6 million in bonuses, down from the $52.5 million in free money passed out at the start of football season, one of the most critical customer acquisition periods on the calendar.

DraftKings offered the most free bets and credits in October at $13 million, or 45% of its $28.6 million revenue. FanDuel handed out $11.7 million in free play while clearing nearly $31 million in revenue.

Some apps continue to spend

Bet365 is not shy about its Ohio promotional spending, offering the third-most free play since January.

October proved similar with the UK-based operator’s $5.5 million in bonuses, or 144% of its $3.8 million online revenue.

Fanatics also continued its promotional tour in October, offering $2.8 million in credits. Promos outpaced its $2.6 million in monthly revenue as the app works to earn new customers in its infancy.

Ohio sports betting by the numbers

Bettors staked $742.9 million between online and in-person betting.

It is up from $685 million the previous month.

OH sportsbooks claimed $80.4 million in revenue and sent $16.1 million back to the state in taxes.