DraftKings topped the Ohio betting market in May, as FanDuel dropped to second place. Bet365 is still trailing behind both.
The total handle in May was $611.6m. This is up 37.0% from May of last year. Cleveland Cavaliers lost to Boston Celtics in the NBA Conference Semifinals. Handle was however 9.2% lower than the $673.22m bet on Ohio sports in April.
The vast majority of wagers were placed online, totaling $595.2m. A further $16.4m was wagered at sportsbooks in retail across the state. Gross gaming revenue was $67.4m after customers had won $538.3m. This suggests a market share of 11.0%. Online betting accounted for 98%.
Ohio sportsbooks are not allowed to deduct their promotional costs until 2027. State law on sports betting allows 10% of promotional spending to be taken off beginning 2027, and 20% beginning 2032.
Although revenue increased by 8.8%, it was still $8.8% below the $73.9m reported in April. Online betting generated $66.1m of the total tax revenue in May. Retail sales accounted for $1.2m.
This means that the total revenue for Ohio, covering five months up to May’s end, is $386.22m. The revenue includes $378m from online sales and $6.4m from retail.
DraftKings is the top-ranked game
DraftKings broke FanDuel’s streak of winning in New York in terms amount bet with their brand. FanDuel reported $199.8m handle. Flutter, which is operated by Flutter, saw $30.6m as revenue that was taxable. FanDuel was not the leader in revenue and handle for the first time since 2024.
Bet365 has maintained its presence in Ohio. BetMGM, a British company, came third in the state with a handle of $41.3m. Caesars, Penn’s ESPN Bet and the British company came in fifth and sixth.
Fanatics has maintained a market share of 3% in Ohio’s online gambling space despite only being active for a little over a year.
ESPN Bet has maintained its 7% share of the market despite criticism from analysts for a lack digital strategy by parent company Penn Entertainment.
Rhode Island revenues drop despite handling increase
The $3.3 million in Rhode Island revenue reported for May is down on the previous year. It was still 22.2% higher than the $2.7m reported in April of this year.
Total revenue includes $569,725 in retail and $2.8m online. Retail revenues include the Twin River Casino sportsbook ($341,428), and Tiverton Casino’s ($228,297).
In Rhode Island, the monthly player spend was $37.3m. It is 21,8% higher than the $30.8m spent last year, and just a little behind April’s total of $37.7m.
Customers wagered $30m online, and another $6.8m in retail at Twin River Casino ($5.0m) as well as Tiverton ($1.8m). Players won $33.9m in the last month.
In Rhode Island the total revenue from the first 10 months of the year to May is $35.9m. In this time period, player spending was $425.8m and winnings were $389.9m.
