In the latest sports betting news, Ohio sportsbooks report better revenue numbers for December, even with a lower betting handle. According to the latest report from the Ohio Casino Control Commission, sportsbooks in the state saw $829.9 million in wagers for December 2023. This is 4% less than November’s handle. But as you can see in sports betting reports from similar markets, a dip in handle is nothing to worry about if it is minimal, it is not part of a downward streak, and if the hold percentage is high.
If you will use the bookie pay per head services of a reputable provider, you are guaranteed an easy time in managing your sportsbook. In addition, their software will also easily generate reports to help you compute for the status of your sportsbook – especially if you want to know how much you are earning as a bookie.
Ohio Sportsbooks Earn More in December
For Ohio, even if the betting handle for the month dropped, sportsbooks still performed well by keeping 11.1% of their bets. The 11.1% hold is quite the jump from November’s 7.9%. If you see a similar trend in stated in the report from your pay per head software, then expect a higher yield in revenue. Ohio sportsbooks have gross profits of $87.2 million in December, a far cry from November’s $68.2 million.
For reference, the last time the state has seen revenue in this range was back in March for the NCAA March Madness. The numbers also round up to one full year of sports betting in Ohio. In 2023, the yearly handle is at $7.6 billion. Interestingly, 97% of those wagers come from online sportsbooks. If anything, this proves that online sports betting continues to be a lucrative business opportunity you should not miss.