Ohio Sports Betting Recovers in January from December Disappointment

Ohio’s January 2025 sports betting handle was $1.01 billion, the third-highest in the state’s reporting history.

Although it represented a 24.6 percent increase compared to January 2024’s handle figure, it was 9.3 percent lower than the record of $1.11 billion set in January 2023. The Ohio Casino Control Commission recently reported the state data for January.

Digital Growth Continues to Power Ohio Market

Online betting continued to dominate the market, as is the case for the majority of states in which both brick-and-mortar and online wagering is available. Mobile sports wagering contributed $992.2 million of the total handle, with retail betting adding just $19 million.

Taxable revenue from sports betting saw an impressive 42 percent month-over-month increase. It reached $81.1 million, up from December’s $57.1 million. However, 2025’s figure did fall dramatically short of January 2024’s $81.1 million. The improved hold rate for operators drove the increase in revenue. December’s hold was a low 5.93 percent, with January recovering to 8.02 percent.

FanDuel was Ohio’s market leader for January, achieving a hold of 10.85 percent, with $38.9 million in taxable revenue from a handle of $358.6 million. The hold achieved nearly doubled that of DraftKings, FanDuel’s closest competitor. The operator, partnered with Hollywood Toledo, achieved a hold percentage of 6.83, generating $22 million in taxable revenue from $321.9 million in wagers. Bet365, in partnership with Cleveland Guardians, had another successful month, with $6.3 million in taxable revenue from $83 million in bets placed.

Ohio officially launched mobile sports wagering in January 2023. The state has grown to be one of the largest by amount wagered across the country, but online casino legalization remains on the backburner. Crypto payments are not adopted by betting operators in the state, so those seeking crypto sportsbooks must look elsewhere. Similarly, with legalized online casino not coming anytime soon, Ohio residents have been pushed offshore.

The shrinking influence of brick-and-mortar was emphasized further, with BetMGM at MGM Northfield Park generating just $155,551 in taxable revenue and BetJack at Cleveland Park making $134,773. Retail casino gaming activity is growing slightly, with January 2025 seeing $77.8 million in gaming revenue, up 3.5 percent year-over-year.

Promotional spending reached $37.5 million in the month, with nearly half by FanDuel alone. Unsurprisingly, the most significant promotional spend by month came in the month of launch, when sportsbook operators spent $320 million.

DeWine Could Hike Taxes On Betting But Crypto May Go Tax Free

Governor DeWine is considering raising Ohio’s sports betting tax rate to 40 percent, despite the Buckeye State receiving $180.8 million in sports betting tax in 2024.

Ohio has also introduced a bill this year to prevent taxes on crypto payments. If passed, the bill would prohibit taxes on digital assets used as a payment method.

This is a positive step for those hoping for broader use of cryptocurrency. Rep. Demetriou’s proposed legislation would still see payments subject to taxes usually applied to legal tender, such as state or sales taxes. It seeks to outlaw state agencies or political subdivisions from accepting crypto assets as payment for goods and services. Should the bill pass, it would be a significant step towards seeing crypto sportsbooks gaining traction.