Ohio Sportsbooks See Decline in Handle This May
May proves to be a trying month for the sports betting industry in the US, as Ohio sportsbooks continue to see a decline in the sports betting handle. According to the latest report from the Ohio Casino Control Commission, sportsbooks in the state are in the second straight month of recording a decrease in handle. Given the sports calendar for May, it does not come as a surprise to see the decline. In fact, it is consistent with trends in the previous years, as the months leading towards, and during the summer tend to record less betting activity.
This is why we always recommend that bookies opt for a complete gambling software service, so that gaming products like casino games can be offered while sports betting is slow.
In Ohio, sportsbooks record a total monthly handle of $446.2 million in May. This is quite significantly lower than April’s $520.6 million. Thus, taxable revenue also dropped from $63.6 million in April to $57.8 million in May.
Ohio Sportsbooks Feel the Slump- Just Like Other Markets
The trend of decreasing handle is consistent with other states, so it is not necessarily a negative indicator for the new betting market. Ohio launched its market only in January of this year, so there are no other months to compare it with. But generally speaking, Ohio had a great start in January, with a handle of $1.1 billion. That means there is less to worry about, as the state clearly has a lot of potential.
Those who are looking for banking options for online sportsbooks need not worry, as there are a lot available. Even in Ohio, bettors have no problems signing up for, and placing deposits in online sportsbooks.
We will probably see Ohio register a few more slow months before it picks up again at the start of the football season in September. Even those who use a bookie pay per head software will see similar trends. Hopefully, revenue will continue to be good until the sports calendar picks up in the fall.
Get the Best Bookie Software with 9DollarPerHead.com Here!
