Indiana June Sports Betting Revenue Takes Surprising Dip
Sports betting handle at Indiana sportsbooks fell more than 20% in June despite the state’s casinos opening their doors again and sporting events slowly starting to return. The June sports betting handle total in Indiana was $29,783,580, a 20.2% decline from May’s $37,334,940 amount, according to figures that the state released Friday.
Online wagering was off nearly 50% at both Hollywood Lawrenceburg (PointsBet) and French Lick Resort (BetRivers), helping to account for a decline of more than $8 million in mobile sports betting for the month, state figures showed. Indiana had $29,149,096 in mobile sports betting handle for June, down from the May total of $37,334,940 by 21.9%.
Casinos in Indiana reopened June 15 after being closed for months in response to the coronavirus pandemic. But the statewide retail sports betting total in June was just $634,486. And overall sports betting revenue dropped from $3,179,968 in May to $2,922,108, an 8.1% fall.
Indiana Sports Betting Handle, June vs. May
|Change||-----||Down 21.9%||Down 20.2%|
Indiana Bettors Still Await Major Sports
Having a robust mobile sports betting market allowed Indiana to continue drawing revenue even as sports were shutting down this spring. Offering exotic options such as Korean baseball, German basketball and darts, Indiana sportsbooks pulled in more than $37 million in sports betting handle in May even with all of its brick-and-mortar casinos closed.
With major sports leagues such as the NBA, MLB and NHL still weeks away from returning as June ended, Indiana sports bettors again turned to other sports. The “other” category accounted for $20,408,642 in sports betting handle in June.
Casino reopenings did at least boost the overall income for Indiana gaming in June. Total casino win (tables plus EGD) in June was $105,061,605 and taxable AGR for gaming was $98,904,685. Both figures were $0 in both April and May with casinos closed because of the coronavirus.
Trying To Get Back On Track
Before COVID-19 began shuttering both casinos and sports leagues, Indiana was on a strong pace to begin 2020. The state, which took its first legal sports bets in September 2019 and launched mobile sports betting shortly thereafter, raked in more than $187 million in sports betting handle in February, following a strong January figure of $170 million.
That’s not close to the figures in New Jersey or Pennsylvania, but still showed promise for a new market in a somewhat smaller state (population about 6.7 million). The growth Indiana initially displayed was not unlike that of New Jersey in The Garden State’s early days of sports betting.
Major sportsbooks such as DraftKings, FanDuel, BetMGM, PointsBet, BetRivers and Caesars entered the Indiana market quickly in 2019 and early 2020. The DraftKings sportsbook, through its partnership with Ameristar Casino in East Chicago, has led the pack in Indiana throughout 2020 and continued to do so in June, drawing $18,239,086 in mobile bets and $18,430,007 overall.
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