DraftKings pushed forward its market lead in Indiana sports betting as the state rebounded in August from a summer floor.
Indiana sportsbooks reported $215.6 million in August bets, according to an Indiana Gaming Commission report Friday. August’s figure is up 10.8% from July’s $194.5 million. July was the first month since August 2020 handle dropped below $200 million.
DraftKings saw its online handle jump from $60.2 million in July to $74.2 million in August. The month likely brought a sigh of relief to US sportsbooks as the sports schedule starts to ramp back up, particularly with NFL betting in September.
IN sports betting revenue did not follow
Despite the 10% jump in handle, Indiana sportsbooks did not see the same August bump in revenue. Operators generated $16.5 million in adjusted gross revenue in August, good for a 7.6% hold.
That was down from July’s $17.2 million in revenue and 8.9% hold.
The state collected $1.6 million in taxes on sports betting in August.
DraftKings continues reign
While DraftKings saw its handle jump in August, second-place FanDuel lost ground with its handle dropping from $54.3 million in July to $52.6 million last month.
FanDuel, however, did generate $4.9 million in revenue, more than DraftKings’ $4.4 million.
BetMGM‘s third-place position stayed steady at $26.2 million. The sportsbook turned in $25.6 million the month prior.
|Sportsbook||Handle||Revenue||Hold||Online Market Share|
|DraftKings||$74.2 million||$4.4 million||5.9%||38.2%|
|FanDuel||$52.6 million||$4.9 million||9.3%||27.1%|
|BetMGM||$26.2 million||$2.5 million||9.5%||13.5%|
|William Hill||$16.9 million||$977,286||5.7%||8.7%|
|Barstool Sportsbook||$8.6 million||$347,062||4.0%||4.4%|
|Caesars (Horseshoe Hammond)||$0||$0||--||--|
Online handle still dominates in Indiana, taking approximately 90% of bets placed.
Hollywood Lawrenceburg led the way in retail, with $5.9 million in wagers. Ameristar Casino followed up with $3 million in retail bets.
Football betting season awaits
Indiana bettors leaned on parlays in August, with baseball close behind.
Both were up significantly during the month, as July was bolstered by $26.8 million on basketball thanks to a late NBA Finals.
Indiana bets by sports
- Parlay: $82.4 million
- Baseball: $68.3 million
- Other: $43.1 million
- Football: $13.9 million
- Basketball: $5.6 million
With NFL betting starting in earnest in September, Indiana sports bettors can start to challenge January 2021’s all-time record handle of $348.2 million.