It was a dead heat between FanDuel and DraftKings in Ohio during October, with just $57,000 separating the two in terms of handle.
Roughly two-thirds of the $724 million in handle taken during the state belonged to the two operators, which each took just shy of $259 million in bets. FanDuel outpaced DraftKings on revenue with $30 million in GGR to DraftKings’s $28 million. FanDuel also managed to pull off that lead despite spending $11.7 million in promotional credit to DraftKings’s $13 million.
It was a dead heat between BetMGM and bet365 for third and fourth place as well, with bet365 taking $45.7 million in handle and BetMGM handling $45.4 million. Bet365 continued its aggressive promo spend in the state, doling out $5.5 million in credit despite only $3.8 million in revenue.
BetMGM, on the other hand, spent $3 million in promotional credit and managed $5.7 million in GGR.
GGR across all online sportsbooks amounted to $78.1 million, equating to 10.7% hold and $156 million in tax revenue for the state.
Caesars Sportsbook rounded out the top five with $35.4 million in handle and $2.3 million in GGR with minimal promotional spending of $600K. Fanatics Sportsbook was next with relatively flat growth month-over-month. The operator posted $23.6 million in handle in September and $24.3 million in October, but it managed to maintain those numbers while halving promotional spending from over $5 million to $2.7 million.
Upstart Prime Sportsbook posted $2.3 million in handle, almost all of which was paid back to bettors. The operator generated GGR of $66,000. In September the book took $366K in bets, so it was quite the rapid month-over-month ascent for the sportsbook, which is geared towards sharper bettors.
Betr, Superbook, and MVG Bet all reported negative revenues for the month.
