Chavdar Vasilev is a gambling news writer with several years of experience in the iGaming industry. He started creating promotional content but soon found he loved reporting on the industry itself. Since then, he’s delivered...
Read Full BioOhio’s gambling industry delivered its best month in 2025 in May, with both sportsbooks and retail casinos posting strong year-over-year growth.
Sportsbooks (online and retail) raked in $88.8 million in revenue, an impressive 31.7% growth from last year, while retail casinos generated $91.6 million, up 8.4% year-over-year.
Sportsbooks Post Best Month of 2025
Ohio sportsbooks recorded their most profitable month this year with $88.8 million in taxable revenue. That represented an impressive 31.7% increase from May 2024. The May revenue surpassed the previous best of $81 million set in January.
Bettors wagered a total of $741.3 million, representing a 21% year-over-year increase. The hold (the amount the sportsbooks retain after paying out winnings) reached 12%, also the best result this year.
Almost all betting activity was online, with $727.1 million in handle and $87 million in taxable revenue. In contrast, retail sportsbooks brought in only $14.1 million in handle and $1.7 million in revenue.
When looking at market share by handle, FanDuel and DraftKings held their dominance, while Bet365 comfortably held the third spot:
- FanDuel: $251.3M: ~33.9%
- DraftKings: $225.2M: ~30.4%
- Bet365: $68.8M: ~9.3%
- BetMGM: $48.0M: ~6.5%
- Fanatics: $41.4M: ~5.6%
- Caesars: $26.8M: ~3.6%
- Others (ESPN Bet, Hard Rock, Prime, BetJack, etc.): remaining ~10.7%
One reason for the strong May performance could be attributed to the Cleveland Cavaliers’ early exit from the NBA playoffs.
The team finished as the top seed in the Eastern Conference and was a strong contender for the Eastern Conference title. However, it exited in the semifinals round after a somewhat surprising 4-1 loss to the Indiana Pacers.
Ohio Casinos Shine in May
Ohio’s four retail casinos generated $91.6 million in May, a growth of 8.4% compared to May 2024 and 3.5% compared to April 2025. The May figures represented the second-highest month this year, trailing March’s $94.5 million.
Hollywood Columbus Casino led the way with $25.8 million in revenue, up 9.3% year-over-year. May marked the third straight month with over $25 million in revenue for Hollywood Columbus.
Jack Cleveland Casino took the number two spot with $22.3 million in revenue, up 4.6% year-over-year.
Hard Rock Cincinnati closely trailed with $22.2 million, representing an 8.4% increase compared to May 2024. Meanwhile, while Hollywood Toledo Casino generated the least revenue, $21.4 million, it posted the highest year-over-year growth, 11.3%.
Of the total May revenue, slots generated $68.4 million, while table games brought in $23.3 million.
Balanced Budget Reduces Pressure for iGaming Expansion
May’s record-breaking results arrived as Ohio finalized its fiscal budget for the coming years.
On July 1, Ohio Gov. Mike DeWine signed Ohio’s operating budget for fiscal years 2026-2027. As required by the state constitution, the budget is balanced, with a positive year-end balance and a well-funded stabilization (rainy day) reserve.
Thanks to this strong financial position, earlier proposals to raise taxes on gambling or legalize online casinos appear to have lost momentum.
Earlier this year, DeWine’s budget proposal included doubling the tax on sportsbooks from 20% to 40%. However, lawmakers rejected his idea.
In May, Sen. Louis Blessing proposed adding a 2% tax on the total wagers placed in the state in addition to the existing tax. The new tax would have made Ohio only the second state to tax the handle and the only one to tax both the handle and adjusted gross revenue.
For context, in May, that 2% tax would have translated to approximately $15 million in extra tax revenue. That potential revenue has not sparked much debate, as the bill has made no progress since its introduction.
Also in May, two separate bills were introduced to legalize online casinos in Ohio. The proposals differed significantly in their tax structures. One called for a flat 28% rate, while the other proposed rates ranging from 36% to 40%.
Still, even the lower rate would’ve brought in $400 million to $800 million annually in tax revenue, according to its proponents.
While the two iGaming bills have also not made any progress, the Ohio legislature operates on a two-year cycle. That means both measures will carry over into 2026.
Although the budget is balanced, online casinos could provide additional means to diversify revenue streams to fund new initiatives or bolster reserves.
