This time of the year is big for sports fans, and that’s certainly the case for fans in Ohio – though they likely have different reasons for their excitement.
Yes, men’s and women’s NCAA Basketball Tournament action is tipping off this week. There will be games in the Buckeye State this week, but only a couple will include Ohio men’s teams, Xavier and Akron. Ohio State missed out for the third straight season, and Cincinnati extended its NCAA drought to a sixth season. That has many college basketball fans in the state moving on to something else (though fans of the OSU women’s team will celebrate).
March Madness is one of the biggest sporting events for bettors, with the American Gaming Association expecting fans to wager $3.1 billion this year in the 38 states and the District of Columbia that have legalized sports betting. But how much of that estimated handle will come from Ohio sportsbooks?
BetOhio wanted to find out. We started by taking the AGA’s forecast and breaking it down by market share based on the data that states report monthly. We then adjusted the estimation using assumptions of interest in college basketball related to other sports in the state.
March Madness Ohio Betting Estimate
Betting on the NCAA Tournament will be big in Ohio simply because it is one of the largest states that has legalized wagering. However, with only two teams making the men’s field of 68, there will be little local rooting interest to spark even more participation. Also, Ohio is one of several states that does not allow proposition bets on student-athlete performance.
Because of all that, BetOhio – where you can find Ohio sports betting promotions before the first full days of the NCAA Tournaments – has set its 2025 NCAA Tournament handle projection at $190 million. That’s slightly more than 6% of the AGA’s national forecast.
Part of the reason we’re being conservative in our forecasting is that there is plenty of other sports news happening in Ohio. Folks in Cincinnati are downright giddy that the Bengals finally resigned Ja’Marr Chase and Tee Higgins. On top of that, they’re excited for baseball’s Opening Day, a local holiday that takes place next week, especially when the Reds regular season starts.
Fanatics Ohio Sportsbook lists the Bengals at +1600 on its Super Bowl futures board. The Reds are priced at +280 to make the National League playoffs at bet365.
There is basketball fever in Cleveland, but it’s about the Cavaliers and their quest to win an NBA title this summer. In Columbus, fans hope the Blue Jackets can complete their improbable run to earn a Stanley Cup playoff spot.
Donovan Mitchell and the Cavs are the third choice to win the world championship at Caesars Ohio Sportsbook at +550 odds. DraftKings lists the odds on the Blue Jackets ending their five-year NHL postseason drought at +425.
Even with the men’s hoops team not making March Madness, there are plenty of reasons for Ohio State fans to still be happy. For starters, the defending national champion football team just started spring practice. Also, there are still a few Buckeyes playing in the postseason. The women’s hockey team is playing in the Frozen Four this weekend, and the women’s basketball team is hosting first- and second-round NCAA Tournament games.
How Much Can Ohio Expect From March Madness
Forecasting revenues is harder than handles, mainly because the former is reliant on how bettors perform. Because of that, BetOhio is providing a range for the tax dollars the state can expect from betting on the NCAA Basketball Tournament this year.
Our range uses a 5% hold projection for Ohio sports betting apps operators and their brick-and-mortar counterparts. That can occur when a substantial number of betting favorites cover and/or a local team far surpasses expectations. The ceiling is based on a 12% hold, which would likely happen if a number of upsets occur and bettors’ parlays don’t hit.
As a result, we expect betting on the 2025 NCAA Tournament to generate between $1.9 million and nearly $4.6 million in taxes for the state. That’s based on the 20% tax the state levies on operator revenues – a figure Gov. Mike DeWine has proposed doubling for the second time in two years so the state can provide funding for new stadiums or renovations.
If you’re more into hoops of the professional variety, follow the Cleveland Cavaliers odds at BetOhio.com as Ohio’s NBA team aims at a championship.
USA Today photo by Isaiah J. Downing
