Ohio Casino Control Commission has reported its lowest handle and revenue since Ohio legalized sports betting launched on 1 January 2023. Ohio’s combined retail and online sports betting handle was $362.1 million in June, down 18.9% month-over-month from May’s $447.5 million.

Total taxable revenue for June 2023 was $32.6 million, down 43.5% from $57.9 million month-over-month from May. The fall in revenue is attributable to the inevitably quiet US sporting summer. Until September and the resumption of the NFL, the major US sporting events leads to a slump in sports betting revenue. Ohio, like many other states around it, has struggled to deal with the inelasticity of US bettor demand to the big US sports, namely Baseball, Basketball and American Football.

There are currently 18 online sportsbooks live in the state of Ohio. Online sports betting handle comprised 96% of total sports betting for the month of June. 68% of online handle was taken by FanDuel and DraftKings, with Flutter’s FanDuel just edging ahead with $120.3 million in handle compared to DraftKings $117.5 million.

Ohio has recently announced the doubling of its sports betting tax rate, from 10% to 20%. Given New York sports betting has an aggressive 51% tax on GGR, Ohio still looks very competitive in comparison.

he new tax is expected to generate an additional $100m in revenue, mostly for the Sports Gaming Profits Education Fund. As mandated by the original law, 2% of the increase in tax revenue will be directed to the Problem Sports Gaming Fund.