Indiana sports betting handle tops $200m in August

Indiana’s sports betting market is on the path to recovery after a slow summer, as shown by the latest data published by the Indiana Gaming Commission (IGC).

According to the report released on Friday, Indiana bettors spent $215.6 million in the month of August, indicating a 10.8% increase from the $194.5 million handle reported in July. The total value of bets wagered last month also shows a 27.6% improvement year-on-year when compared to the $169 million reported in August 2020.

The climb can be attributed to the start of the 2021 college football season, which kicked off on August 28. The NFL pre-season schedule also started in early August.

When it comes to revenue, Indiana sportsbooks won $16.3 million in the month, translating to a win rate of 7.7%. However, despite the increase in handle, the revenue for August was down by 6.9% when compared to the $17.5 million hold posted in July.

9.5% of the revenue generated by the industry, which is about $1.6 million, went to the state in taxes.

Indiana betting handle by sport

A closer look at the numbers posted by the IGC puts baseball ahead of other sports in terms of betting handle. The sport posted a handle of $68.3 million in August, indicating a 7.6% month-on-month increase when compared to the $63.5 million wagered in July.

The amount wagered on football in the month was $13.9 million, up 531.8% from the $2.2 million reported in the month prior.

Basketball betting, on the other hand, accounted for $5.6 million of the state’s handle, down 79.1% from the $26.8 million reported in July.

The value of bets wagered on parlays increased from $45.3 million in July to $82.4 million in August, showing a massive increase of 81.9% month-on-month. The total amount wagered on all other sports not listed individually was $43.1 million.

DraftKings & Ameristar still top in Indiana

DraftKings has once again established itself as the king of Indiana sports betting.

The Boston-based operator and its land-based partner, Ameristar Casino in East Chicago, had the highest betting handle in the Hoosier State at $79.5 million, while the total sports betting revenue posted by the licensee was $4.63 million.

Of the betting handle posted by the casino, $74.2 million was wagered through the DraftKings website and mobile app, which was the highest for any online sportsbook in Indiana in August. The operator’s hold from the bets placed via mobile in the month was $4.4 million.

Blue Chip Casino came in second with a handle of $53 million and $5.0 million in revenue. As expected, the licensee’s online partner, FanDuel, was responsible for the lion’s share of the betting handle and revenue. The online platform took in $52.6 million of the bets, and the operator’s online hold was $4.9 million.

The third spot went to Belterra Casino, which partners with BetMGM and Betway for its online operations. The establishment reported $26.8 million in handle in August, up from $25.9 million in July. The operator’s revenue was $2.6 million in the month, up from $2.2 million in July.

Hollywood casino in Lawrenceburg also showed an impressive performance after posting a combined betting handle of $20.1 million and $1.9 million in revenue. The casino’s online partners are PointsBet and Penn National Gaming’s Barstool Sportsbook.