Ohio’s sports betting just barely ended a downward wagering trend in February.
Key Takeaways
- February generated Ohio’s lowest handle since August 2025.
- Revenue fell below $100 million for the first time since October.
- FanDuel dominated bettors behind a 12.3% hold.
Following year-over-year handle dips in both December and January, the Ohio Casino Control Commission recently reported that online and retail sportsbooks generated $767.5 million, less than 1% higher than February 2025.
February marked the biggest Super Bowl-month handle since Ohio launched sports betting in 2023, though it still fell below $900 million for the first time since August 2025.
With only Super Bowl LX between the Seattle Seahawks and New England Patriots on the calendar, betting dropped 16% from January. Wagering increased despite online sportsbooks offering 25% less in promotional bets than in February 2025.
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Profits fall
That didn’t result in more profits for sportsbooks, as bettors had their best run in months. Online sports betting operators hauled in $69.4 million of the total gross revenue of $69.7 million, a 7.5% year-over-year decrease in February.
The latest Ohio revenue was the lowest since July 2025 and ended a fourth-month streak of $100 million.
February’s 9.1% hold is Ohio sports betting operators’ lowest win rate since September 2025 and the first under 10% since October. The Buckeye State’s 13 retail sportsbooks brought down the win rate after winning back just 3.6% of a $10.3-million handle.
Ohio filled its coffers with $14.5 million from the $72.8-million taxable revenue, increasing the state’s tax take to over $35 million in the first two months of 2026.
FanDuel leads in revenue
| Online Operator | February Handle | Revenue |
|---|---|---|
| DraftKings | $255.3 million | $23.8 million |
| FanDuel | $234.4 million | $28.9 million |
| bet365 | $80.4 million | $6 million |
| BetMGM | $54.6 million | $3.5 million |
| Fanatics Sportsbook | $49.8 million | $4.6 million |
| Caesars | $25.1 million | $1.6 million |
DraftKings continued its dominance in Ohio, generating a state-best $255.3-million handle in February. FanDuel was second with $234.4 million in wagers and used a 12.3% hold to win back $28.9 million, the most of any online operator for the month.
DraftKings’ hold was more in line with the Buckeye State average and resulted in $23.8 million in gross revenue, nearly identical to the previous February's profit. bet365 kept 7.5% of an $80.4-million handle, while BetMGM was the only other operator to surpass $50 million in wagers. The online sportsbook produced a 6.4% hold.
Caesars surpassed $25 millon in bets and won back 6.2%, while theScore Bet was the only other operator to generate a handle of at least $20 million and produced a 7.5% win rate. No other online sportsbooks took home $1 million in February.
