Indiana sports betting landscape is picking up again after a dismal four-month run. Figures from the Indiana Gaming Commission show that the state has finally seen some monthly increase in August, reversing the downward trend that has been going on since it reported a $476 million handle in March.
Baseball continues to be the most wagered sport, but football is starting to pick up as well thanks to the NFL preseason. With more games being played and new casinos coming online, we can expect Indiana’s sports betting industry to continue growing in popularity.
August Figures for Indiana Sports Betting
The Hoosier State’s 13 sportsbooks handled a total of $238 million in wagers last August, which shows a 14.1% boost compared to July’s $206.6 million and a 9.9% increase compared to August 2021.
This has been a great start for the expected comeback of the Indiana market. Based on Historical data, There has been a massive 65% boost in sports betting between August and September and it climbs further until January next year. It is indeed a great sign that The Hoosier State is still on track.
From the August wagers, sportsbooks retained $25.4 million for a 10.7% hold rate. Of course, the state also levied its share of the revenue – $2.41 million in sports wagering tax.
NFL has been the crucial factor in August figures as football wagers increase to $17.6 million from the $2.9 million results last month.
Indiana’s streak is expected to continue as NFL regular season is already on its way while MLB is nearing the playoffs. These sporting events will play a vital role as the industry is looking for a great bounce-back after experiencing declining numbers in the previous months.
DraftKings Overtakes FanDuel
The Indiana Gaming Commission’s recent reports also show that online sportsbooks, especially the top two, continue to dominate the Indiana market which is not a surprise as mobile wagering offers a much wider variety of markets with less effort required, allowing customers to bet on everything from traditional sports like football and basketball to niche events like table tennis and e-sports.
FanDuel has been dominating most of the states that it is dominating but it was not been the story this August in the Indiana sports betting market as DraftKings overtakes to claim the number one spot, but not far ahead.
DraftKings handled $71.7 million in August, a 19% increase based on July’s performance of 60 million. FanDuel on the other hand reported a $69.6 million handle with a 13% increase in the same period.
In 2019, the Indiana legislature passed a bill legalizing sports betting, and since then, several online sportsbooks have been launched in the state. While there are still traditional brick-and-mortar casinos operating in Indiana, the overwhelming majority of bettors are now placing their bets online.