Indiana Shows Sports Betting Decline
The Indiana Gaming Commission sent out the May sports betting report last week, and the numbers were as expected. Total sports betting handle dropped from the month of April, but the numbers still showed massive growth, year-over-year.
The total handle was right around $308 million, and that dropped from the $360 million in April. This state has still seen significant growth though as the monthly handle rose by 21 percent in 21 months.
Indiana sportsbooks collected a total sports betting revenue of $32 million for the month, and the state received around $3 million in tax revenue. The revenue numbers actually went up from April as bettors were not as profitable as they were a month ago.
The state of Indiana is not one of the biggest sports betting markets in the United States, but it is usually one of the first to announce sports betting numbers. If recent trends hold true then other states throughout the U.S. are going to follow the lead and post some disappointing numbers as well.
Basketball, FanDuel Lead
Indiana is a state that loves its basketball, and that sport has been the most attractive for bettors since the start of 2022. Basketball accounted for over $84 million in betting handle in May, sliding just ahead of the “other” category that includes sports outside of the top options.
Indiana is a state that is not home to any Major League Baseball teams, but that sport still had a total handle of close to $70 million in 2022. After the conclusion of the 2022 NBA Finals, baseball will bring in the most wagers in the state until the start of the 2022 NBA season.
There was actually a tight race for the top spot when it comes to online sportsbooks, but FanDuel was able to come away with the win. The total handle posted by FanDuel Sportsbook was $91.9 million, pushing it just ahead of DraftKings Sportsbook.
Indiana is a state with a long list of online sports betting options, but only four operators generated at least $30 million in wagers. BetMGM and Caesars came in at third and fourth on the list, and that’s usually where they are every month.
Caesars Racebook Live
Caesars is a massive name in the gaming industry in the state of Indiana and the online sportsbook is one of the top options. Based on that popularity, Caesars has now launched a Racebook as well, giving bettors a new option for placing bets on horse races.
Horse race betting is important to the culture and everyday life for Indiana residents, and Caesars will join TwinSpires and TVG as horse racing apps. Not only will horse races in Indiana be featured, but you can place bets on races that take place throughout the world.