COLUMBUS — The Ohio Lottery has released its sports betting revenue report for February, according to BetOhio.com.
Here are the key figures:
February total sports betting handle $639,795,553, down 42.6% from January ($1,114,101,739).
February mobile sports betting handle (Type A proprietors) $621,111,765, down 43.0% from January ($1,090,265,212).
February retail sports betting handle (Type B proprietors) $17,710,580, down 23.0% from January ($22,986,191).
February kiosk sports betting handle (Type C proprietors) $973,208, up 14.5% from January ($850,336) – number of kiosks increased from 772 in January to 866 in February.
February total sports betting revenue (Types A, B and C) $82,879,568, down 60.4% from January ($209,037,382).
Promotional gaming credits (mobile only, not deductible from total gross receipts) $59,147,334.
And a few takeaways from BetOhio.com analyst Dru James:
“After a historically huge first month, Ohio is on its way back down to Earth. Sports betting handle was down a little over 40% from January and revenue took a hit of 60%.
“A drop after a strong first month is not atypical for any market, and it is also common for all markets, no matter the age, to lose momentum from January to February. This combination is likely what led to such a large drop in Ohio this past month.
“Kiosk sports betting handle went up this month, though, and that is the result of 94 additional kiosks added across the state. These additions were not enough to cushion the overall decline for the month, but their presence in the market will be something to keep an eye on in the future.
“Looking ahead, the Ohio figures will likely stay in this ballpark, though March Madness may provide a subtle rise in handle, and revenue by association.
“After that, the future of the Ohio market gets a little murky — the spring and summer are slow seasons for sports betting, as many professional and college sports are out and there are fewer opportunities to bet.”