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2023 was a year of sweet beginnings and good endings for Ohio and its sports betting industry. The state launched its first sportsbook apps in January 2023, closing the year with a historic leap in casino gambling revenue.
The Buckeye state’s total gross gaming revenue of both casinos and racinos grew to an astronomical $2.38 billion, a 2.5% increase from the previous year. These remarkable returns placed the state in the same league with sports betting heavyweights like Pennsylvania, Nevada, and New Jersey in terms of revenues declared in the last year. In this article, we’ll explore Ohio’s 2023 casino gambling revenue and its prospects for the future of igaming.
Ohio Casinos Gaming Revenue of 2023
Ohio’s four casinos made a big profit in 2023, raking over $1 billion in gross gaming revenue. Slot machines were the biggest money makers, bringing in an astonishing $728 million, while table games like blackjack and poker followed with about $286 million.
These bigwigs are Jack Cleveland Casino, Hollywood Columbus Casino, Hardrock Cincinnati Casino, and Hollywood Toledo Casino, which offer 6,200 slot machines and over 300 tables.
Based on last year’s figures, Hollywood Columbus, the largest casino complex in Ohio, earned the most, $272 million.
Altogether, these casinos contributed $335 million in taxes to the state last year. Like mini-casinos with video lottery terminals, Racinos also invested $1.37 billion in 2023. Finally, with the launch of sports betting, total bets reached $7.6 billion, with $187 million generated in tax for the state.
Ohio Casinos Year Over Year Revenue Growth in Previous Years
Though Ohio casinos experienced an unprecedented surge in revenue growth in 2023, the trend began much earlier after the state legalized sports betting in 2021. In 2021, the state recorded an impressive $983,711,240 in casino gambling revenue. 2022 was even more impressive. The year started on a good note, with a progressive monthly increase in revenue.
Although the figures flattened out in the last quarter, Ohio casinos could amass $1,005,200,879 in revenue. This was a 2.18% increase from the 2021 figure. This increase can’t be directly tied to sports betting legalization, though the excitement and anticipation might have ignited the interest of gamblers. However, by 2023, when sports betting was fully launched in the state, the four Ohio casinos decided to capitalize on the new revenue stream. It’s on record that the Ohio sports betting launch weekend pulled in an incredible number of transactions that surpassed what any state has ever recorded during launch.
This set the pace for the groundbreaking revenue figures eventually recorded by the end of the year, leading to a 2.5% increase from 2022. With this, one may say there’s more to anticipate as The Buckeye state isn’t ready to watch others enjoy the thrill of the gambling game without getting its vast share.
How Ohio Compares With Other States in Casino Gambling Revenue
The latest Ohio Casino Control Commission data shows that Ohio’s gross gaming revenue (casinos and racinos combined) reached $2.38 billion in 2023. This puts Ohio in the top 10 states for casino GGR in the US, behind Nevada, New Jersey, Pennsylvania, Illinois, Indiana, Louisiana, Maryland, Michigan, and New York. Nevada ranks highest, with over $15 billion recorded in 2023.
The Future of Casino Gambling in Ohio
Several factors, such as expanding online sports betting, opening new facilities, and promoting responsible gambling, drove Ohio’s casino GGR growth. As it stands, Ohio may be the next state to legalize online casinos, as legislators began taking decisive steps towards the legalization of online casinos in the state.
A hearing has been scheduled for February 20, 2024, where the Ohio Sports Gaming Committee will deliberate on the prospects of legalizing online casinos. The committee is expected to meet four times before the end of the year and will be chaired by Sen. Nathan Manning and Rep. Jay Edwards. Ohio is a significant player in the United States casino market, with a strong performance and potential for further growth.
Facts You Need To Know About Ohio Gambling Laws:
As an Ohioan bettor, you must know the legal status of gambling in the state.
- Four commercial casinos are available in Toledo, Cleveland, Cincinnati, and Columbus.
- While sports betting became legal in December 2021, retail sportsbooks began operations in January 2023. So far, sports betting is the only regulated form of real-money online gaming in Ohio.
- Online casino gambling can be done through offshore sportsbooks with a good track record of excellent services.
- If you’re interested in horse and dog racing, Jack Thistledown, the most popular racinos, has active horse tracks.
- Poker players can also enjoy their legal gambling in any of the four commercial casinos.
- If you’re a golf player, you’ll find it interesting that golf gambling on PGA and LPGA tours is possible through legalized sportsbooks.
Frequently Asked Questions (FAQs)
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Is Online Gambling Legal In Ohio?
Online sports gambling became legal in Ohio in 2021, and sportsbook apps were launched in January 2023. While online casino gambling is yet to be regulated in the state, steps are being taken to ensure its legalization.
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What Percentage of Ohio Casinos Revenue Goes to The State?
33% of Gross Gaming Revenue (GGR) goes to the state in taxes. For example, the four commercial casinos in Ohio pulled in total revenue of $1.014 billion, with Hollywood Columbus being the most significant contributor, bringing in a total of $272.2 million. Out of the total revenue generated, $335 million was paid to the state in tax revenue, contributing to the state’s economic growth.
Ohio Casinos Gambling Industry: An Unearthed Pool Of Opportunities For The Buckeye State
As Ohio’s casino industry celebrates its record-breaking year, many more opportunities are bound to unfold. With over 11 million people and a strong appetite for gaming entertainment, The Buckeye State could become one of the most lucrative markets for online gaming and sports betting in the United States.
Ashley Grasse
Ashley Grasse is a research writer and casino entertainment expert. She’s interested in game theory and strategy. Ashley reviews online casinos and writes blogs about trending topics in the gambling industry. In the years she’s been writing at OnlineUnitedStatesCasinos.com, she’s earned a reputation for her deep dives and thorough research. You can also find very quirky and entertaining pieces authored by Ashley throughout our site.
