Indiana sees 7.6% Increase in May Sports Betting Handle
Figures are in for Indiana sports betting handle in May, and the figures are up slightly to $254M.
Indiana posted an increase in its sports wagering handle in May from April, showing some resilience as other states experienced a dip. In the Hoosier State, retail and online sportsbooks accepted wagers throughout the month worth up to $254.4 million. That was a 7.6% increase from the previous month, when the total sports betting handle for retail and online wagering combined was $236.4 million.
Indiana provides two racinos and nine casinos that offer sports betting. Indiana broke its record of total sports betting handle in January, posting a figure of $348.2 million.
However, while the handle was up month-to-month, taxable adjusted gross revenue experienced a decrease for the state’s sports wagering operators. In May, the total taxable AGR was $18.9 million, which was a drop of 6.1% from the $20.1 million taxable AGR recorded in April. The decline in taxable AGR meant inevitably there was a decrease in tax to the state. There was a $1.79 million drop in May, a decrease of 6.1% from April’s $1.91 million.
Unsurprisingly, Indiana online sports betting accounted for most of the sports wagering handle. According to numbers released by the Indiana Gaming Commission, mobile sports betting handle in May $234 million, which accounted for 92% of the month’s total handle.
Biggest Indiana Sportsbooks
Regarding the leading sportsbooks in Indiana, DraftKings, in partnership with Ameristar Casino, and FanDuel, in an agreement with Blue Chip Casino, were the market leaders in Indiana. Although DraftKings recorded the largest handle, FanDuel took in more money in gross receipts. The DraftKings Sportsbook handle was $81.8 million, while the operator took in gross receipts worth $2.94 million. Next up was FanDuel, posting a handle of $79.3 million and gross receipts of $7.63 million. The next operator on the list was BetMGM Sportsbook, who has an agreement with Belterra Casino. The BetMGM sportsbook handle in May was $29.34 million, and gross receipts were $2.52 million.
In May, entering the Indiana sports betting market was Barstool Sportsbook, who secured market access through a deal with Hollywood Lawrenceburg. The sportsbook launched on May 18 and generated a decent $6.32 million in handle ($268,000 gross receipts). Additionally, PointsBet Sportsbook, who also has a deal with Hollywood Casino, recorded $11.3 million in handle ($1 million gross receipts).
In terms of the land-based casinos in Indiana, the May casino win (tables plus slots) was $241.4 million. That was a 14.1% increase from April ($211.7 million). The taxable AGR for iGaming was $212.2 million, a 4.6% from April’s $202.9 million.
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