Indiana betting revenue drops to $18.9m in May

For the month of May, Indiana recorded a drop in betting revenue despite posting an increase in betting handle.

According to the latest figures from the Indiana Gaming Commission, bettors in the state wagered $254.4m on sporting events in May.

The state’s handle was up from the $37m wagered in May 2020 at the height of the coronavirus pandemic. May’s handle was also up month-on-month from $236.4m in April 2021.

Although handle grew in May, revenue for the month was down with the state’s sportsbooks generating $18.9m in revenue.

May’s revenue was down from the $20m generated the month prior but was up significantly on the $3.2m generated in May 2020.

In terms of tax revenue, legal sportsbooks in the Hoosier State paid $1.8m to the state.

How did each operator perform?

According to the report, the Ameristar East Chicago licensee, which hosts the DraftKings-branded sportsbook, dominated the market in terms of handle with $89.2m in bets and $4.6m in revenue.

Blue Chip Casino, which is partnered with FanDuel, took second place after generating $7.7m in revenue from $80m in total bets.

The Belterra Casino, which hosts the BetMGM sportsbook came in third place after bettors wagered $29.8m with the operator, leaving the sportsbook provider with $2.6m in revenue.

Hollywood Lawrenceburg which is partnered with PointsBet was the only other licensee to see revenue surpass $1m. According to the figures, the operator generated $2m in revenue from $26m in bets.

What did people bet on?

The state report revealed that basketball was the most popular sport to bet on with residents wagering $82.4m on basketball events.

Baseball was the next most popular individual sport with bettors wagering $62m on this while just $1.4m was wagered on football.

Indiana bettors wagered $62m on parlay bets in May, while $51.6m was wagered on sports in the “other” category.

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