Ohio surpasses $500 million in sports bets revenue collected since launch

TOLEDO, Ohio (WTVG) - New numbers from the Ohio Casino Control Commission show that the state has surpassed $500 million in revenue collected so far from legal sports betting.

Since Jan. 1, the beginning of legal sports betting in the state, Ohio has surpassed $3.4 billion in sports bets placed since the beginning of the year when sports betting was first made legal in the state.

The sports betting market has slowed since the first month of promotional bets, which led Ohioans to wager $1.1 billion in January. Bettors took advantage of the Super Bowl in February and the NCAA Basketball Tournament in March.

April saw a nearly 30% drop in betting volume with fewer high-profile events. The OCCC reports Ohioans wagered $520 million in April, down from $737 million in March. The state collected $63 million in revenue from April’s bets.

Online sportsbooks continue to dominate the market, accounting for over 97% of all wagers placed in March. With the release of the revenue made in May, Ohio is well on pace to make $1 billion in revenue during the industry’s first legal year.

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