Despite less year-over-year betting during a high-volume month, Ohio sportsbooks still experienced a massive 32.3% increase in gross revenue from the NCAA Tournament.
Key Takeaways
- Operators won back 9.1% of a $963.1 million handle.
- Profits were up from February as well.
- FanDuel and DraftKings produced monster numbers.
More NCAA Tournament upsets and fewer No. 1 seeds reaching the semifinals than in the previous year, the Ohio Casino Control Commission (OCCC) reported that online and retail sports betting operators hauled in $87.9 million, up from $66.4 million in March 2025.
A 9.1% hold was well above the 6.7% win rate operators produced during the previous college basketball tournament minus April’s semis, and it was the Buckeye State’s sixth consecutive month of at least 9%.
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Handle decrease
Ohioans wagered $963.1 million in March, a 2.9% decrease from the $992 million handle recorded the previous year. Still, college basketball’s postseason, including conference tournaments, generated $195 million more in bets than in February, which was highlighted by the Super Bowl.
Combined with the start of the MLB season and the World Baseball Classic, March’s handle also outpaced January. Ohio State made the NCAA Tournament but lost in the first round to TCU, likely halting even more wagering.
The big month filled the state’s coffers with $17.6 million, up from $15.1 million in the previous March, from the $88.1 million in taxable revenue.
FanDuel
| Online Operator | March Handle | Revenue |
|---|---|---|
| DraftKings | $304 million | $29 million |
| FanDuel | $298.1 million | $33.1 million |
| bet365 | $100.4 million | $7.1 million |
| BetMGM | $73.8 million | $4 million |
| Fanatics Sportsbook | $65.5 million | $4.7 million |
| Caesars | $32 million | $2.9 million |
Ohio online sports betting accounted for $86.4 million of the total revenue and $950.2 million of all wagers placed. Promotional spending by mobile operators increased from $19.9 million in February to $26.4 million in March.
DraftKings led all online sportsbooks with a $304 million handle, but FanDuel, thanks to a 10.9% hold on a $298.1 million handle, was the biggest winner, generating $33.1 million in gross revenue.
DraftKings held onto $29 million, nearly a $6 million increase from the previous March, despite not recording a double-digit hold. The only other operator to reach $100 million in wagers was bet365, which won back just 7.1%.
BetMGM had an even rougher March, keeping just $4 million of a $73.8 million handle. Fanatics got its March win rate to 7.2% to bring in $4.7 million in gross revenue, while Caesars reached 9% on a $32 million handle. Neither Hard Rock Bet nor theScore Bet got to 6%.
Other Buckeye news
Ohio regulators tried to take legal action against prediction market platform Kalshi last month. The commission issued a notice of a $5 million fine, charging the trading exchange with offering illegal gambling.
Ohio lawmakers are also looking to remove credit cards as a funding option for online sportsbook customers.
