Indiana Sports Betting Handle Slips Below $200 Million in July
Huge sports and casino fan
Huge sports and casino fan
Michael McKean is an experienced writer with a portfolio that includes work on the subjects of sport, gambling, travel and finance. With a background rooted in journalism, Michael first ventured into the professional writing world based in Switzerland, where he wrote for a number of language and travel sites and magazines before moving into the world of sports writing and gambling sites.
As an avid soccer fan, who follows everything from the Scottish lower leagues to the European elites, he has earned himself a solid reputation as a reliable football betting tipster and predictor. Outside of work, Michael has always gotten involved with grassroutes football everywhere he has worked and lived - UK, Spain, Portugal, Switzerland and Brazil - and still isn’t shy when it comes to pulling the boots on himself. As well as soccer, he has also developed a love of North American sports, particularly ice hockey - a love which began in Switzerland and saw him venture across the pond to follow the NHL. Moving away from dry land, he’s also a keen longboard surfer and is happiest when writing with a view of the ocean.
The Indiana Gaming Commission has published its gambling revenue report for the month of July.
According to the report published on Thursday, Indiana sportsbooks handled $194.5 million worth of wagers in July, showing a 21% month-on-month decline on June’s $246.3 million handle. Online customers accounted for 92% of the total handle at $179 million, down 20% from the $224 million handled in the month prior.
Consequently, the total revenue generated by the vertical fell sharply in July, with both online and retail operators posting a combined hold of $17.5 million down from $25.5 million in June. The figures indicate a 31.4% decline month-on-month.
The total amount paid to the state in taxes in July was $1.66 million. The tax revenue generated by the industry in the previous month was $2.42 million, translating to a 31.4% dip.
The tax rate for licensed operators in Indiana is 9.5% of adjusted gross receipts.
Baseball Dominates in the Sports Category
According to the monthly revenue report, baseball was the most popular sport for bettors in the Hoosier State in July, toppling basketball to claim the top spot. The value of wagers placed on the sport during the month was $63.5 million, up from $60.5 million in June.
Parlay betting came in a distant second with a handle of $45.3 million, down 23.1% from June’s handle of $58.9 million. The value of bets placed on basketball, on the other hand, fell by a massive 65.2% month-on-month, with the sport posting a handle of $26.8 million in July. The value of wagers placed on the sports in June was $77.1 million.
Football bets accounted for $2.2 million of the July handle, a slight increase from the $1.5 million reported in the previous month.
Other sports reported $53.8 million in handle in July, compared to $52.1 million in June.
Ameristar Casino, DraftKings Continue to Top in Indiana
Ameristar Casino and its online partners continued to top Indiana’s regulated market in July, having posted a total handle of $66.6 million during the month. The retail book at the East Chicago-based facility took in $3.0 million in wagers, while $63.6 million came in via its two online partners.
DraftKings Sportsbook accounted for $60.2 million of the handle, while theScore Bet reported $3.4 million in handle.
The operator’s hold in the month was $5.2 million, down from $5.9 million in June.
The Boyd Gaming-owned Blue Chip Casino in Michigan City, had the second highest handle in the state at $54.8 million. The lion’s share of the volume was handled by the facility’s online partner, FanDuel Sportsbook. The total value of bets placed through the FanDuel app was $54.3 million, while the retail sportsbook handled $468.859 worth of bets.
The total revenue generated by the vertical was $5.3 million, placing Blue Chip and FanDuel ahead of Ameristar Casino and DraftKings in terms of revenue.
Belterra Casino came in third after reporting a handle of $25.9 million and $2.2 million in revenue. The casino’s two online partners, BetMGM and Betway posted $25.6 million and $30,859 in handle, respectively. The retail handle for the casino was $284,882.
Hollywood Casino in Lawrenceburg posted the highest retail handle at $5.9 million. The two online wagering apps tied to the casino, Barstool Sportsbook and PointsBet sportsbook, took in $7.1 million and $7.0 million worth of wagers, respectively.