DraftKings overtook FanDuel in usage among Ohioans in July for the first time since the Buckeye State implemented legal online sports betting at the start of the year, according to monthly figures reported Thursday by the Ohio Casino Control Commission.
The mobile betting apps of the two industry titans are far and away the most popular among Ohio’s online bettors, based on their volume, but they flip-flopped in the sports calendar’s slow midsummer period while combining to take 70% of bets placed by phone or computer.
Of $319.6 million in online bets on 18 sites in July, DraftKings took $116.2 million, nearly as much as the month before. FanDuel, meanwhile, showed handle of $106.7 million that was 11.3% less than in June, putting its volume in second place for the first time this year.
As has been common in many states in which they compete, however, FanDuel made more revenue from its bets, retaining $14 million. DraftKings won $11.8 million from bettors in July.
Overall, online and in-person sports betting in Ohio totaled $331.1 million last month, an 8.6% decline from June and once more establishing a new monthly low, which is not unusual based on the cycle of sports events. The $10.7 million in promotional credits used to entice bettors was also easily a new monthly low.
The good news for Ohio’s government was that from $37.1 million in revenue retained by the sportsbooks, the tax share diverted to the state treasury for educational purposes would be $7.4 million instead of $3.7 million, based on the doubling of the tax rate to 20% effective July 1.
The $37.1 million in revenue indicated a sportsbook hold percentage of 11.2%, which was more favorable for the operators — and worse for their customers — than June’s 9% hold rate.
A second tier is defined
While DraftKings and FanDuel battle at the top for supremacy in Ohio heading into the busy fall football season, a group of four mobile operators — bet365, BetMGM, Caesars Sportsbook, and Barstool Sportsbook — have been competing on the next tier. All of them saw their volume decline by several million dollars in July compared to June.
Bet365 remained in third place, with handle of $23.5 million and revenue of $2.9 million. Close behind was BetMGM, with $23 million in handle and revenue of $2.8 million.
Caesars once more held fifth place in the state, with $17.7 million in bets and $1.2 million in revenue. Barstool, a PENN Entertainment offering that is to be rebranded as ESPN BET this fall, received $9.9 million in wagers and earned $692,989 from them.
Just three of the 18 online operators took more bets in July than June, with Fanatics Sportsbook notable among them, in that it still was in testing mode and did not launch full public use until mid-August. Its $3.3 million in bets was a 46.8% monthly increase, with revenue of $402,222 resulting from them.
The handle of Tipico’s sportsbook rose 16.3% to $4.7 million, with $525,424 in revenue. The smaller betPARX site increased its volume 12.4% to $580,684, retaining $57,249.
PointsBet, which at some point will shut down in the state due to its acquisition by Fanatics, saw $2.3 million in handle and $253,692 in revenue.
Unlike in prior months, all of the online operators reported positive revenue instead of losing out to successful customers.
MGM Northfield enjoys a strong July
Ohio’s 14 retail sportsbooks combined for $11.5 million in handle and $1.2 million in revenue last month.
MGM Northfield Park was once more the busiest sportsbook by far, with $2.9 million in bets, and unlike June, it reported positive revenue of $377,714 — the state’s highest — rather than taking a net loss.
Others taking more than $1 million in wagers were Hard Rock Casino Cincinnati with $1.6 million (revenue of $207,646), Hollywood Casino Columbus with $1.4 million ($172,022 in revenue), and the Caesars Sportsbook at Rocket Mortgage FieldHouse with $1.1 million.
That Caesars book was one of two, however, to report losses on the month, and it was its second negative month in a row. It showed a net loss of $11,520 to customers, while the Caesars sportsbook at Scioto Downs took a loss of $2,770 on $543,201 in bets.
It was the last full month of very modest betting at the SuperBook’s site at Taft’s Ale House in Cincinnati, with just $1,644 received in bets and $763 retained from them. SuperBook discontinued betting at the little-used sportsbook inside the brewpub last week.
