Indiana sports betting handle took a breather in July, as did most of the US market.
Sportsbooks in the state took $194.5 million in July bets, according to an Indiana Gaming Commission report released Thursday. It is the first time since August 2020 IN sports betting handle dropped below $200 million.
Despite the low figure, Indiana sports bettors have wagered more than $4 billion since the state launched in September 2019. Of that total, $3 billion has come in the past year.
Dip for Indiana likely expected
July’s handle was a 21% drop from June’s $246.3 million. The month is historically a slow time for sportsbooks as many sports are in their offseason.
With NFL betting right around the corner, August will likely begin another uphill trend as the Indianapolis Colts start up their season. Hoosiers could soon take a swing at the record monthly handle, which was $348.2 million in January 2021.
Indiana sports betting revenue also dropped
Sportsbook operators generated $17.2 million in gross gaming revenue, good for an 8.9% hold.
Revenue was down nearly 36% from June.
The state collected $1.7 million in taxes from sports betting.
Mobile sports betting rolls in Indiana
Online bets accounted for 89.8%, or $174.6 million, of the month’s wagers.
DraftKings Sportsbook was tops among online operators, taking $60.2 million in bets.
| Sportsbook | Handle | Revenue | Hold | Market Share |
|---|---|---|---|---|
| DraftKings | $60.2 million | $4.7 million | 7.8% | 34% |
| FanDuel | $54.3 million | $5.3 million | 9.7% | 31% |
| BetMGM | $25.6 million | $2.2 million | 8.5% | 15% |
| William Hill | $7.8 million | $228,927 | 2.9% | 5% |
| Barstool | $7.2 million | $463,462 | 6.4% | 4% |
| PointsBet | $7 million | $747,400 | 10.7% | 4% |
| BetRivers | $6.9 million | $659,187 | 9.6% | 4% |
| theScore | $3.4 million | $73,512 | 2.2% | 2% |
| Unibet | $852,852 | $80,444 | 9.4% | <1% |
| WynnBet | $737,797 | $109,614 | 14.8% | <1% |
| TwinSpires | $536,783 | $60,153 | 11.2 | <1% |
| Betway | $30,859 | ($5,043) | — | <1% |
| Caesars | $0 | ($1,059) | — | — |
Retail wagers were $19.9 million, down from $27.9 million the month prior. Hollywood Lawrenceberg turned in a retail handle of $5.9 million.
Summer schedule no help
While 2020 threw a curveball into the statistics because of the COVID-19 pandemic, July is generally the low point for sports betting in the US.
This year, there were even extra events that did not boost the month’s handle significantly. The NBA Finals finished up in July and the Olympics began July 23.
Normally, July is reserved for baseball, and even that sport takes its All-Star break during the month.
Indiana bets by sport:
- Baseball: $63.5 million
- Basketball: $26.8 million
- Football: $2.2 million
- Parlay: $45.3 million
- Other: $53.8 million
