Ever since Ohio sports betting launched, things have been out of this world in terms of the handle and revenue. As soon as Jan. 1 arrived, people all over the state raced to get in their bets. In terms of the overall project, things could not have gone better during the first few months, which was obviously great to see for the lawmakers and officials. However, the honeymoon appears to be over, as the Ohio sports betting numbers are starting to decline a bit.
According to a report, Ohio’s betting handle for May was around $446 million. This of course is still a fantastic number, but more than $520 million was posted in April. In March, the handle topped $700 million, which was incredible. While the official numbers for June are yet to be released, analysts are expecting another drop for the Ohio betting handle. So, what’s leading to this?
It’s clear that no football and no college sports are going to be a bit of a problem for the state. The numbers for March and April were high 100 percent because of people checking the March Madness betting odds. It’s one of the biggest and most-fun sporting events of the year to bet on. For people in Ohio, this was the first spring that they were able to place their wagers in a legal fashion.
However, this time of year the majority of bets are being placed on Major League Baseball and not much else. While the Cleveland Guardians and Cincinnati Reds are fun teams in Ohio, they don’t have the same kind of betting attention as the NFL, NBA or college sports. While the numbers may be down a little now, that doesn’t mean this trend is going to keep on going like this.
Football season could help Ohio post record-breaking numbers
Looking ahead to the fall, football season could help Ohio post record-breaking numbers. As we’re sure you’re aware training camp is set to get started for teams across the AFC and NFC later this month. With that, the preseason action will follow shortly after that in August. Then in September, Week 1 will arrive before you know it and all of the betting will surely reach a new level around then.
For Ohio, everyone will be focused on the Cincinnati Bengals and the Cleveland Browns. With the Browns, Deshaun Watson is hoping to have a bounce-back season with the AFC North squad. He was suspended for the majority of 2022, but now he’s ready to live up to his massive contract. If the signal-caller doesn’t have a strong year, then it could end up being a rough campaign for the Browns.
As for the Bengals, they’re contenders to not only win the AFC North, but they have strong NFL betting odds to win the Super Bowl as well. Cincinnati is led by quarterback Joe Burrow, one of the most exciting young talents in the game. Burrow has the goal of helping this team bring home a Lombardi Trophy, but the Kansas City Chiefs and Patrick Mahomes are standing in their way.
Regardless of what people might think, no one can deny the fact that the Bengals have what it takes to win the AFC Championship Game this year. They were a few plays away from stunning Mahomes and Kansas City last season at Arrowhead. Right now, we’re seeing plenty of futures bets being placed on the Bengals. That’s only going to keep on happening as we inch closer to the regular season. Then throughout each game week, countless bets will rain in as well.
These stats 🤯
Here are the most improbable completions of the 2022 season. pic.twitter.com/kCiFmBYCAy
— Cincinnati Bengals (@Bengals) July 3, 2023
Ohio’s betting handle has topped $3 billion thus far
While the numbers may be on the decline of late, it’s important to remember that Ohio’s betting handle has topped $3 billion thus far. We’re still waiting for the official June numbers, but Ohio has reached around $3.5 billion (including May) thus far. This is a number that a lot of people would have never guessed the state would have been able to reach by now. However, this just goes to show how positive things have been.
Ohio sports betting was something that people had been eyeing for years. As soon as it was announced that things had been given the green light and that a Jan. 1 launch date was set in stone, people couldn’t believe it. January was a month to remember, as history was made for Ohio. Moving forward, we’re quite confident that the betting numbers are not only going to get back on track, but more eye-opening results will be posted.
The NFL is going to be massive this fall, but the NCAAF betting odds will be checked constantly too for the Ohio State Buckeyes. The Big Ten powerhouse is hoping to get back to the College Football Playoff and make noise this winter. They have the talent to do so and there’s no doubt in our minds that fans across the state will be making a lot of bets from start to finish for OSU this season.
𝐭𝐫𝐚𝐝𝐢𝐭𝐢𝐨𝐧 𝐭𝐚𝐥𝐤 🌰
Ryan Day x Archie Griffin pic.twitter.com/EZX3QXWnbY
— Ohio State Football (@OhioStateFB) June 30, 2023