Indiana Clears $1 Billion In Cumulative Sports Betting Handle

Indiana became the fourth state to generate $1 billion in cumulative sports betting handle since the May 2018 repeal of PASPA by the U.S. Supreme Court, with the nearly $70.9 million reported Monday for the month of July by the Indiana Gaming Commission pushing the Hoosier State over the threshold.

It joins Nevada, New Jersey, and Pennsylvania in the exclusive club of more than 20 states and the District of Columbia now offering legalized sports betting. Aided by robust remote registration, Indiana would have reached the milestone figure far quicker had it not been for the COVID-19 pandemic. The Hoosier State has generated just over $1.03 billion in handle since the first bets were accepted Sept. 1.

July’s figure, aided by increased offerings thanks to the return of Major League Baseball and both the National Basketball Association and National Hockey League, more than doubled June’s handle of $29.8 million. MLB in particular proved an attractive draw for bettors in Indiana with a handle of slightly more than $14.5 million.

Sportsbooks across the state combined for a hold of 9.39% as they reported more than $6.6 million in revenues. That resulted in $632,554 in tax revenues for the state.

FanDuel, DraftKings dominate online, but BetMGM makes headway

As has been the case since virtually the first day of mobile launch in Indiana, DraftKings and FanDuel captured an overwhelming majority of the state’s online handle, which amounted to $64.5 million. The two online titans accounted for just over $57 million of that amount, with DraftKings claiming monthly honors thanks to a handle of more than $32.8 million through Ameristar.

Since the COVID-19 pandemic shuttered casinos in March, the online handle in Indiana has accounted for at least 81% of the total handle in each of the last five months — even as retail sportsbooks and casinos have reopened across the state since mid-June.

Though the other six online and mobile sportsbooks in Indiana are not generating similar numbers to DraftKings and FanDuel, BetMGM — based in the Belterra Casino — overtook BetRivers for third in July with a handle of more than $3.5 million. BetMGM was the fifth online sportsbook to go live back in late February, and it more than trebled its June handle of $1.1 million.

Despite slipping to fourth, BetRivers nearly doubled its online handle month over month with nearly $2.7 million. The latest online sportsbook to enter the Indiana market — Unibet via the Horseshoe Hammond — posted a handle of $9,893 in its first two days of operation after going live July 30.