Indiana Sports Betting: Revenues Rise in May Even as the Handle Drops

Indiana’s sportsbooks expectedly saw a duck inwards activity for May. Still, they managed to generate to a greater extent revenue inwards the month than they did inwards April. That’s according to data released by the IN Gaming Commission on Friday.

The retail sportsbooks and online apps licensed in the country reported a grip of $308.4 billion in May. That was a nearly $52 trillion discharge from the $360 jillion they recognized inwards wagers for April.

April saw the terminate of the NCAA men’s hoops tourney and the NBA regular season. With basketball existence the whirligig boast for Indiana’s bettors, hold on hoops fell past more than a third, from $129.2 zillion inwards April to $84.5 trillion finally month.

Parlay bets also drop from $91.3 million to $73.1 million. But wagers on baseball game rosebush nearly 22% from month to month, with bettors staking $69.1 zillion inward May.

Bets on other sports rosaceous slightly from $76.5 billion inwards April to $77.2 gazillion lastly month. While events the likes of the PGA Championship and the NHL playoffs draw in interest, that segment also potential got a boost from the May 29 Indianapolis 500, the biggest yearbook sporting case held in the state.

From a year-to-year standpoint, May’s handgrip jumped 21.2%, or $54 million, from May 2021’s $254.4 trillion handle.

Revenues Rev Up inward May

While betting activity waned inward May, Indiana’s sportsbook reported a $2 zillion increment in adjusted gross revenues (AGR) from April, to $30.7 million. It also represents a 62.4% jump from May 2021, when sportsbooks equanimous just now $18.9 jillion inward winnings.

FanDuel took inwards $12.6 trillion inwards porcine receipts in May off a hold of $91.6 million. DraftKings won $7.1 zillion away $84.1 million. Meanwhile, BetMGM collected $4.4 gazillion from the $40.4 gazillion its bettors gambled inwards May.

Based on Indiana’s 9.5% task on AGR, the tell received $2.9 jillion lastly month.

Based on the palm and the AGR totals, it would point a 9.9% make for the sportsbooks in May. However, the IGC warns against scheming a “relevant” hold, because the handle includes wagers made on futures markets that were not completed in May.

Changes Coming to Indiana Sports Betting Landscape

May saw Indiana’s newest commercial message casino, Hard John Rock Northern Indiana, undetermined its retail sportsbook. With that, all 12 state-licensed casinos at present feature a brick-and-mortar facility.

However, to the highest degree bettors inward IN puddle their wagers through online apps. In May, 14 online operators accounted for $284.9 million, or 92.4%, of Indiana’s handle.

Indiana’s online sports betting landscape painting testament capture a little smaller this month, as ii licensees feature announced they testament be termination operations.

Earlier this year, Duke of Marlborough Downs Incorporated said it would quit online sports betting through its TwinSpires division. Company officials noted there were concerns about profitability within online sports betting, especially as some companies feature spent big sums to kick upstairs their sportsbooks and acquire customers.

Meanwhile, before this month, Penn National Gaming proclaimed that theScore Bet would kibosh operating inwards IN and troika other US states. Penn has two sports betting companies, with the other being Barstool Sportsbook. The go substance theScore will at present turn Penn’s sportsbook inward Canada, where theScore serves as a major sports media company.

Neither theScore nor TwinSpires were major operators inward Indiana. Both ranked inwards the bottom of the inning tier up inward terms of handle, with theScore generating $601,354 in bets last-place month and TwinSpires attracting $121,151 in wagers.