Ohio bet $639 million on sports in February, down sharply from opening month

CLEVELAND, Ohio — Gamblers in Ohio placed $639 million worth of bets in February in the second month of legal sports gambling in Ohio, netting the state one more $eight.three million in tax income.

It is a decline from the $1.1 billion in bets the state saw in January. While, promotional credits from betting firms skew the numbers some.

Each mobile-betting apps and physical sportsbooks saw a decline in betting, though the kiosks at bars saw an uptick in usage.

The Ohio Casino Manage Commission released its second report about sports gambling income on Friday, detailing February earnings by physical sportsbooks and mobile betting apps. Separately, the Ohio Lottery Commission in mid-March released its report covering gaming kiosks.

Ohioans placed about $621 million in bets on Ohio’s 17 mobile-betting apps, down from $1.09 billion in January. Numbers have been down even even though one particular new app, BetParx, went reside in February.

Promotional credits, like the “bet $five, get $200″ bargains noticed when betting initially became legal, skewed these numbers a bit.

Players employed about $320 million worth of betting credits or promotional bets in January, so, the betting apps took in only $770 million of actual money bets in January.

In February, players employed just more than $59 million in promotion credits. So, apps took in about $562 million in actual money bets.

Combined, and soon after accounting for voided wagers, the betting apps ended up with $82 million of taxable income, down from $205 million in January.

The apps paid out $536 million in winnings, down from $864 million in January.

Neither physical sportsbooks nor gaming kiosks gave out promotional credits, according to the Casino and Lottery commissions.

Physical sportsbooks discovered in casinos, racinos and other areas also saw a dip in bets placed, according to the Ohio Casino Manage Commission’s report.

The state’s 14 physical sportsbooks, like the ones at the JACK Cleveland Casino and MGM Northfield Park, brought in $17.7 million in bets, down from $23 million in January. Combined the 14 facilities had just more than $1 million in taxable income, down from $three.two million in January.

Roughly $16.six million in winnings have been paid out, down from $19.five million in January.

Betting kiosks had a superior February, and brought in $973,000 in bets this month, up from $850,000 in January. The kiosks paid out $910,000 in winnings, up from $722,000 in January, so income declined.

These kiosks brought in $62,000 of income, down from $116,000 in January. This is regardless of 866 small business hosting kiosks, up from 772 in January.

Adding up all the betting these previous two months, mobile betting apps stay the most well-liked.

Of the $1.75 billion wagered on sports in Ohio so far, 97.six% of it was placed on mobile apps. Just two.three% of bets have been placed at sportsbooks, and kiosks producing up .1%.

About 21.six% of all bets placed have been accomplished with promotional credits.

Ohio lawmakers developed 3 sorts of sports gambling. There is Las Vegas-style sportsbooks, mobile-betting apps and gaming kiosks.

Sean McDonnell covers small business and customer subjects for cleveland.com. You can attain him at smcdonnell@cleveland.com Study much more of Sean McDonnell’s stories.

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