CLEVELAND, Ohio -- Ohio's sports-betting companies in November smashed the 2024 sports-betting record set in October as bets continued their month-over-month rise.
Combined, the companies took in over $1 billion of bets in November, according to data compiled from the Ohio Casino Control and Ohio Lottery commissions, an increase from $903 million in October. After paying out winnings and voided wagers, the companies generated over $117 million in revenue.
This makes November the highest month in 2024 in terms of bets placed. Through November, Ohioans have placed nearly $8 billion in bets in 2024. December's figures haven't been released yet.
The only month with a stronger bet total was January 2023, when Ohio launched legal sports betting to the tune of $1.1 billion in bets. Around that time, betting apps had also flooded the market with $320 million of promotional credits.
November tends to be one of the busiest months in the United States for sports betting. In 2023, November had the biggest month in terms of the total amount wagered across all legal sportsbooks in the American market, according to Chris Grove, Partner Emeritus for Eilers & Krejcik Gaming, a leading research firm in the gambling industry.
In November, Ohio's 19 mobile-betting apps took in most of the action, with a combined $1.003 billion in bets, an increase from $882 million in October. They also saw $114 million in revenue, the highest revenue reported for the companies in 2024.
The state's 18 in-person betting lounges took in $20.1 million in bets and came away with $2.8 million in revenue. Five betting lounges did not report revenue in November.
The Ohio Lottery's betting kiosks in bars and restaurants took in $1.4 million of bets and had $188,000 in revenue.
Ohio's sportsbooks keep reporting year-over-year increases. November was the eighth month in a row to see these gains, with $1.025 million in bets, up from $865 million in November 2023.
October saw $903 million in bets, up from $748 million in October 2023. September saw $842 million in bets, up from $692 million. August saw $549 million in bets, up from $380 million. July saw $477 million in bets, up from $332 million. June saw $530 million in bets, up from $364 million.
Revenue also continues to rise compared to 2023. Ohio's sports betting companies reported over $117 million in revenue, up from $68 million in November 2023.
Most of the revenue was made by the 15 mobile apps in Ohio, accounting for $114.2 million of total revenue.
Mobile sportsbooks also dominate the market in almost every other state, said Grove, who predicts that the dominance of these sportsbooks over in-person betting lounges and kiosks will continue to grow over time.
November had the highest revenue reported in 2024, but revenue has not risen proportionately to the amount of bets being placed. Grove said this may be due to having a string of results like in the current season, where favorites are winning more often than usual, which results in less reliable revenue even as bets continue to grow.
Reported revenue is the money companies are left with after paying out winnings and voided wagers. It doesn't include expenses, like the overhead costs of running the sportsbooks.