Indiana saw substantial year-over-year gains in sports betting handle and revenue during July.
The Indiana Gaming Commission reported a monthly handle of $261.1 million, up 28% from last July, and adjusted gross revenue of $29 million, a 25% year-over-year increase.
These rises occurred despite the WNBA taking an Olympic break in the second half of the month, which likely contributed to a 12.4% decrease in the month-over-month handle. The Indiana Fever, led by star Caitlin Clark, has driven fans to games and increased wagers at Indiana’s online and retail sportsbooks.
Revenue only dropped around 4% from June, thanks to an 11.1% hold enjoyed by operators. The Hoosier State has produced three consecutive months of double-digit win rates.
In-person betting produces high hold
Online sports betting accounted for $254.7 million of the total amount wagered in July. In-person betting at casinos and racinos combined to generate $6.2 million in handle, claiming a $1 million revenue win, thanks to a 16.4% hold.
That all helped put $2.76 million in Indiana’s coffers, down slightly from the $2.9 million gained by the Hoosier State in June.
FanDuel crushes competitors
| Operator | July Handle | Adjusted Gross Revenue |
|---|---|---|
| DraftKings | $94.4 million | $10.2 million |
| FanDuel | $78 million | $10.5 million |
| BetMGM | $25.4 million | $2.5 million |
| Caesars | $16.1 million | $1.7 million |
| bet365 | $13.1 million | $1.2 million |
| Fanatics | $10.7 million | $1.16 million |
| ESPN BET | $7 million | $735,921 |
DraftKings led all online operators with a handle of $94.4 million and enjoyed a 10.4% hold. However, FanDuel produced a better month behind a 13.5% hold that generated $10.5 million in revenue on a handle of $78 million.
BetMGM continued its lockdown of third place, producing $2.5 million on a $25.4 million handle on a win rate just below 10%. Caesars was nearly $9 million behind but after a 4% hold in June held the online sportsbook back, it rebounded with a 10.3% win rate to haul in $1.7 million in revenue.
bet365 finished comfortably in fourth place with a handle of over $13 million and has surpassed $100 million in accepted wagers since launching in the Hoosier State in late January.
Fanatics held its own with the last $10 million July handle in Indiana, while ESPN BET continues to see action deplete. PENN Entertainment’s online operator went from $14 million in wagering in May to $9.8 million in June and $7 million in July.
Baseball, parlays dominate landscape
Baseball dominated the single sport landscape in Indiana, accounting for $73.8 million wagered in July. The handle fell 11.6% from June, likely due to MLB’s All-Star break.
“Other” sports, which include golf, tennis, soccer, and MMA, led all categories with a handle of $80 million. A limited basketball menu still generated $27.4 million in wagers while football, which is bound to rise significantly in August, took in $2.9 million in July.
Parlays generated $76.7 million worth of bets, down from June’s $88.1 million.
