Home News In Ohio, ESPN Bet is responsible for the half of promo credits awarded.

In Ohio, ESPN Bet is responsible for the half of promo credits awarded.

by Bela Ksovreli
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Image: Shutterstock

The revenue reports for November are revealing just how much ESPN Bet spent on promotions to create a buzz in the sports betting market.

ESPN Bet spent almost $30 million in promos for Ohio debut

ESPN Bet Ohio spent $58.8 Million in promotional credits, or nearly half the total amount.

ESPN Bet finished the month in third position behind DraftKings (275.8 millions) and FanDuel (293,3 million). It had a handle of $70.8 million. DraftKings led the way in terms of revenue with $22.5 millions, FanDuel came in second place with $21million, and ESPN Bet was third with $12million.

ESPN Bet, however, topped the podium with a total of more money than FanDuel combined. DraftKings gave away just over $9 million worth of promo credit, while FanDuel spent only $10.5 million. bet365 is considered to be one of the biggest spenders in this state. However, they only spent $3.4 in promo credit in February.

BetMGM (50 million dollars) and bet365 (45.4 million dollars) round out the top 5 in terms of handling.

Since January, November is the best month to play Ohio sportsbooks.

The state of Ohio’s online sportsbooks received $841.1 in bets. This was the highest month since the launch of the site in January. Market revenue was $66.6m, which is 7.9% of the total. This performance generated a tax revenue of just over $13,000,000 for the state.

Fans Sportsbookraised around $25,000,000 in revenues for the third month in a row, placing it seventh behind Caesars.

Prime Sportsbooks is a rising star in the sports betting industry

Upstart Prime Sportsbook was able to almost triple its handling from October by accepting bets worth $5.8 Million. The site, true to its business model as a sportsbook for sophisticated bettors only generated $12,550. This narrow result follows an October performance which generated $66,000 on $2.3 Million in bets.

Three operators were in the red during November: Betra Superbook and MVG Bet. The two operators with the lowest handle, Superbook (422,000 and Betr (430,000), ended up losing $5,552 each. MVG Bet also had losses of just $15,000 against a handle of over $1 million.

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