In 2023 Ohio betting industry handled $6 billion.

Within a year of legalizing sports betting on January 1, 2023, Ohio's industry flourished with a total of $6 billion in wagers.

January alone saw $1 billion in bets, generating $200 million in tax revenue. Despite allowing up to 40 retail sportsbooks, 98% of bets were placed online.

Ohio permits 25 online operators, each running up to two sportsbooks, reflecting the communitys strong interest in online wagering.

 

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It's truly remarkable to see the Ohio betting industry flourish so quickly after the legalization of sports betting. The fact that it managed to handle a total of $6 billion in wagers within a year is an impressive achievement.

The figures for January are especially impressive, with $1 billion in bets being made. This amount alone generated $200 million in tax revenue, which is a significant contribution to the state's finances. It's clear that sports betting has become a lucrative source of income for Ohio.

One interesting observation is the overwhelming preference for online betting. Despite there being up to 40 retail sportsbooks available, 98% of bets were placed online. This highlights the growing trend of online gambling, where people can easily place bets from the comfort of their own homes. It also reflects the convenience of online wagering, allowing people to bet whenever and wherever they want.

It's worth noting that Ohio has permitted 25 online operators, each of which can operate up to two sportsbooks. This reflects the state's recognition of the strong interest in online wagering within the community. By allowing multiple operators, Ohio has created a competitive market that can offer a wide range of options to bettors.

Overall, the success of the Ohio betting industry in handling $6 billion in wagers within a year is a promising sign for the future of sports betting in the state. The significant tax revenue generated and the community's strong interest in online wagering highlight its potential as a thriving industry.