It’s been a little while since we’ve had anything to report on Indiana sports betting, but it seems the industry has taken a slight downturn. The total amount of money wagered on sports in June was below the $300 million mark for the first time since last August and while the handle was down to $13.6 million from $15.8 million in May.
A Decline In Sports Betting
The summer slowdown has arrived for Indiana sports betting, as the state’s take fell again in June.
This marks the second straight month that Indiana sports betting has declined, and the first time since last August that the handle has dipped below $300 million.
Wagers handles by retail and online sportsbooks dropped to $256.3 million for June according to Indiana Gaming Commission. Even if the handle increased by 4% compared to the same point last year, it still shows a decline of around 17% compared to May figures of $308.3 million for the current year.
The majority of Indiana’s sports betting is done online, through one of the 11 casinos that offer to wager. However, even with that convenience, the total handle for June was just $13.56 million. That’s a far cry from the top four online sportsbooks in the state, which all saw their handle exceed $300 million.
It’s not just Indiana feeling the summertime blues when it comes to sports betting. Across the country, numerous states have seen a decline in handle and revenue as the weather gets warmer. So far, Nevada is the only state to buck that trend, as their handle actually increased in June.
Future of Indiana Sports Betting
It’s still early days for Indiana sports betting, but the start of the NFL season is just around the corner, which means that Indiana sports betting will be put to the test. Football is by far the most popular sport to bet on in the United States, and if Indiana can’t keep up its current pace, it could spell trouble down the road.
For now, though, all eyes are on the Hoosier State and how it will fare in the coming months. With football just around the corner, we should have a better idea soon enough.
Indiana Casino Revenue Also Fall
Last month, Indiana’s 12 commercial casinos generated a total gaming win of $197.19 million (i.e., revenue). That was a 6.9% decrease from May’s $211.9 million and also a 3.8 percent decline in a year-over-year comparison to June 2021 ($204.95 million). After four months of gaming revenue growth in 2021, this is the first month where all 12 casinos reported a year-over-year decline in wins.
Despite the summer slump, Indiana’s casinos are still raking in plenty of cash. And with football season right around the corner, it’s likely that sports betting will see a resurgence in the fall. So far, 2021 has been a banner year for sports betting in the Hoosier State, and there’s no reason to believe that trend won’t continue.