ESPN Bet remains in the top three Ohio sportsbooks

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The Ohio Casino Control Commission (OCCC) recently released the revenue report for January and ESPN Bet is holding strong as the third-most-popular sportsbook in the state, but it is still a long way behind the two market leaders.

FanDuel led the pack for the month with $282.7 million of the $792 million in handle for the month. DraftKings trailed slightly behind with $252.2 million.

ESPN Bet posted $59.8 million in revenue, outperforming bet365 ($50 million) and BetMGM ($49.7 million).

The state online sportsbooks produced combined revenue of $110.7 million, resulting in just over $22 million in tax revenue for the state.

FanDuel led the way on the revenue front with almost $53 million in revenue for a hold rate of 18.7%. It is worth noting that the operator also spent substantially more on promotional credit than competitors, doling out $16.6 million.

DraftKings was second in both promotional spend ($10.4 million) and revenue ($34 million).

After spending substantially at launch, ESPN Bet’s promotional credit dipped to $2.6 million, which was less than both bet365 and BetMGM.

The newly launched Prime Sportsbook continues to climb, hitting a new handle high of $9.7 million. The operator, which prides itself on accepting all bettors, continues to have some of the tighter margins in the state. Prime actually operated at a loss for the month, dropping $65,000. To date, the sportsbook has taken almost $22.7 million in wagers and generated revenue of $165,974. That is a hold rate of less than 1%.