July is baseball’s month for legal sports betting. America’s pastime attracts a lot of bettors since there are few options on betting sites. It’s right after the NBA season ends, and one month before preseason football begins. But for the Hoosier State’s betting market, it is not a recipe for success.
The Indiana Gaming Commission announced that $203.8 million in bets were accepted last month, a 9% decline after June’s $224 million.
But it wasn’t all bad. Thanks to some poor luck by Indiana bettors, the sportsbooks increased their hold percentage to 11.3%, compared to June’s 8.6%. And because of that, Indiana’s tax bill actually rose last month to $2.2 million.
DraftKings remains top dog in July
DraftKings and FanDuel have been fighting each other this year to be the state’s No. 1 operator. FanDuel led in January, April, and May, while DraftKings was best in February, March, June, and now July.
DraftKings reported $77.6 million in handle, while rival FanDuel had $62.7 million. BetMGM came in third with $18.9 million, followed by Caesars’ $15.7 million. All other operators in the Indiana sports betting market failed to reach $10 million in bets.
Baseball the last sport remaining
Baseball bets jumped month over month from $65 million to $69.4 million, a 6.7% increase. But compared to July 2022, which saw a nearly identical handle, baseball fell short. Last year, bettors placed $76 million in wagers.
