Annual seasonal downturn in football sports betting as customers prepare for September.
For the first half of the 2022 calendar year, legal sports bets placed on football within the state of Indiana have totaled nearly $776 million, according to Indiana regulators – for an average of close to $130 million in total handle per month.
However, Indiana bettors wagered less than $1 million ($886,991 to be exact) on football during the month of June 2022, a statistic that reflects the annual off-season of both NCAA college football and the professional National Football League.
In fact, wagers on the sport of football are expected to likewise be severely diminished once state regulators release July 2022 figures. But then the sport will experience a massive uptick in August during preseason, and an even more prolific increase of interest once the NCAA and NFL regular seasons begin.
All told, the state of Indiana is on pace to accept more than $1B (yes, $1,000,000,000) in total legal sports wagers on football by year’s end. Sportsbook revenue for that milestone amount could be anywhere between $60 million to $100 million depending on customer participation percentages for each type of wager.
Certain bet types such as “parlays” typically increase win percentage for sportsbooks as opposed to the more traditional moneyline or point spread wagers.
Indiana Baseball Overtakes Football and Basketball During In June 2022
Although football failed to garner even $1 million in total bets during the month of June 2022 (down from $2.3 million in the month of May), the Hoosier State still managed to handle a total of $255.14 million in legal wagers in June – with total wagers eclipsing $4.4 billion total for the 2022 calendar year.
The sport of baseball was the most popular market for legal sports bettors in Indiana during June – thanks in large part to unseeded Notre Dame’s unexpected postseason path into the College World Series that went through the #1 Tennessee Volunteers in the Knoxville super regional.
The Fighting Irish boasted four Major League Baseball Draft picks during the second day of selection for the pros, and June 2022 baseball handle numbers topped $84.5 million in June.
Year to date, baseball has attracted over $433 million in legal bets (both land-based and online) in the state of Indiana – a number that makes up almost 10% of all bets placed.
With $775 million in total yearly handle, football is #2 in the state. The sport is second to basketball, which has made up $1.29B of all bets this year. That figure represents about 30% of all bets in the state while football comes in at just shy of 20 percent.
Retail And Online Sports Betting Pale In Comparison To Casino Slot Revenue
So far this year, the state of Indiana has collected roughly $31.2 million in tax from sports betting Adjusted Gross Revenue (both retail and online). By comparison, the Hoosier State has collected over $600 million in 2022 tax revenue off of retail casino slot machines alone.
In June 2022, legal Indiana sportsbooks brought in approximately $1.5 million in tax to the state, while casino slot tax revenue was over $60 million for the same month.
Learn More About NFL Betting Before The 2022-23 Season Begins
If you’re new to legal sports betting and are physically located within the state of Indiana’s borders, get a jump on this year’s regular season by consulting our NFL Betting Guide.
Now would also be a great time to check out legal Indiana sportsbook apps to try your luck at placing real money wagers on the in-season MLB as we all wait for the basketball, football, and ice hockey seasons to start.
