FanDuel holds off DraftKings challenge to lead Ohio betting market in August
Flutter Entertainment-owned FanDuel remained the frontrunner in the Ohio sports betting market in August – a month in which the Buckeye State saw revenue drop to a calendar year-low
According to the Ohio Casino Control Commission report that dropped on Tuesday (1 October), total player spend in Ohio for August was $547.9m (£417.6m/€496.2m). This is 44.6% ahead of last year and 14.9% more than July of this year.
Consumers wagered $539.9m on sports online during the month, while a further $13.0m was bet at retail sportsbooks.
In terms of taxable revenue, this amounted to $48.8m, the lowest monthly total so far for 2024. The August figure was 19.6% more than the same month last year but 8.8% behind July’s $55.3m haul.
Online sports betting generated $46.6m in revenue, while retail sportsbooks contributed $2.0m to the monthly total. Total taxable revenue for the year-to-date in Ohio stands at $541.5m.
As for hold, this hit 8.91% for the state as a whole in August. Online hold was 8.63%, with retail at 15.38%.
DraftKings runs FanDuel close in Ohio
Looking now to individual operators, the two-way battle between FanDuel and DraftKings continued in August.
FanDuel barely retained the lead in the online sector, posting $16.9m in taxable revenue for the month. This came off a $165.7m handle, resulting in a 10.20% hold.
DraftKings was only marginally behind on $16.7m in online revenue, despite a higher handle of $178.8m. The operator had a 9.34% hold.
Elsewhere, Bet365 generated $4.0m in revenue from $59.4m in bets for a 6.73% online hold. BetMGM took $2.3m from $38.2m handle, leaving a 6.02% hold, and ESPN Bet took in $1.9m off $19.7m for a 9.64% hold.
As for the Ohio retail market, Hollywood Gaming at Dayton Raceway claimed top spot with $377,810 from a $1.4m handle. This left a hold of 27.4%. Seminole Hard Rock Digital was not far behind on $363,549 from $1.9m, resulting in a 19.3% hold.
Ohio bettors can also use wagering kiosks, which are overseen by the Ohio Lottery. Those figures were released in mid-August and showed that there are 761 kiosks available, down from 764 in July. Bettors placed $806,100 worth of wagers.
Leave Your Comment