Ohio’s sports betting industry has experienced a 29% increase in betting volume in April compared to the same month last year. This growth indicates that the initial success of sports betting in 2023 was not solely due to pent-up demand. In total, Ohioans placed nearly $3 billion in bets during the first four months of the year, keeping pace with the previous year’s numbers.
While January saw a decrease in total bets compared to the previous year, February and March both showed significant increases in betting volume. This data allows for a clearer picture of how the sports betting market in Ohio is evolving since its legalization in 2023. The initial surge in demand has been replaced by steady growth, with operators collecting $74 million in taxable revenue in April alone.
The majority of bets and revenue are coming from sports betting apps, which accounted for 97% of bets and 98% of revenue in April. The state’s sportsbooks and lottery-operated kiosks make up a smaller percentage of the market. With sports gambling revenue taxed at 20%, the state is expected to receive approximately $14.8 million in taxes from April’s betting activity.
As the market continues to evolve, it will be interesting to see how these trends develop over time. It is important for those struggling with gambling addiction to seek help through resources such as the Ohio Problem Gambling Helpline and the National Council on Problem Gambling Helpline. It’s crucial to gamble responsibly and recognize when it might be time to seek help or take a break from gambling activities altogether
