Ohio retail sports betting takes $168k in revenue during March

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Whilst we still await the full revenue report for Ohio’s online sports betting market in March, the Ohio Lottery has revealed that retail sports betting in the Buckeye state took $168k in revenue.

Publishing its March 2023 sports gaming revenue report, the Ohio Lottery noted that there were 940 active sports betting kiosks during March, compared to 772 in January and 866 in February. This still means that not all licensed Type C retail sports betting operators have launched their kiosks, which are allowed to operate in restaurants, bars and grocery stores. 

With more kiosks available in the state, handle improved by 42% from February, reaching nearly $1.4m. 

Per operator, with 753 kiosks across Ohio, SportsBetOhio took the lion’s share of handle, taking $689k in bets during March. UBet Ohio handled $293k from its 38 kiosks, whilst Gold Rush Gaming handled $198k from its 68 kiosks.

New to the state BetSkyBox handled $128k from its 31 kiosks and BetIGG handled $75k from its 50 locations, less than the $97k handled in January despite having more kiosks. 

The hold rate for the retail sports betting operators stood at a lofty 12.5% as bettors piled in on March Madness bets. 

This gave operators a total GGR of $171k from the month’s trading, almost three times as much as the $62k recorded in February and up 47.9% on January’s total of $116k. 

However, there was $3,145 of negative carryover from players winning futures bets from previous months, leaving operators with $168k in GGR. 

Here is a rundown of each operator’s revenue figure: 

SportsBet Ohio: $73k

Gold Rush Gaming: $32k

UBetOhio: $29k

BetSkyBox: $22k

BetIGG: $12k

Total monthly GGR is split between the retail operators and the Ohio Lottery, which is responsible for managing retail sports betting. 

Operators raked in $135k from their operations in March, whilst the Ohio Lottery netted $33k for its management fees.