In the latest gambling news, Ohio sportsbooks record the second-best monthly total betting handle since sports betting went live in the state. According to the Ohio Casino Control Commission, sportsbooks in the state collected $746.3 million in bets. This amount is only second to January’s betting handle.
October is a good month for sports betting, which is why bookie software providers always see an increase in bookie registration a month or two before things get busy. Given how profitable sports betting is, those who want to earn from sports betting have a higher chance of doing so as a bookie, rather than just bet on sports.
Ohio Sportsbooks See Remarkable Numbers, But Lower Profits
Sportsbooks in the state saw a lot of action because you have the MBL playoffs running. You have both college and professional football and basketball, plus the NHL. That is more than enough to keep bookies busy. And if you do want to be able to offer that much betting products to your players, then start looking for a good bookie software provider. These bookie pay per head reviews will be of much help to you.
Meanwhile, sportsbooks in the state report a gross revenue of $80.2 million. This is 1.8% lower than that of September’s. While there is a decrease in revenue, the numbers are quite negligible. The main reason is because the hold percentage dropped by 1 point to 10.7%. The drop in the hold does lead to less revenue, but the fact that they are still maintaining a 10 month streak of a double-digit hold is remarkable in itself.
This feat has contributed to the Buckeye state seeing almost $780 million in taxable revenue in this year so far. The largest source of handle and revenue are online sportsbooks. 97% of the total handle come from online wagers. Even so, retail sportsbooks still managed to bring in $22 million in bets, not a bad number for a month with a full sports calendar.