Sports betting operators in Indiana report an increase in revenues for July compared to the previous month.
Indiana's sports betting revenue climbed to a seven-month high of $20.9 million in July, according to the Indiana Gaming Commission. The figure represented a noteworthy 32.5% increase from May's year-low of $15.8 million, with the operator win rate surging by nearly four percentage points.
The Hoosier State's sportsbooks reported a 10.1% win rate in July, marking the first time the state exceeded a 10% hold since a 10.3% rate in November 2021 that fueled a record $47.7 million monthly revenue haul. Despite the slower summer months, the $206.6 million handle dropped to the lowest level since July 2021, when the state's sportsbooks accepted $194.5 million in wagers.
Indiana sportsbooks have collected $2.5 billion in wagers since the start of 2022 and more than $8.5 billion since sports betting launched in August 2019. The state received $2 million in tax receipts for July, pushing the yearly total to $17.2 million. This amount is $2.5 million ahead of the pace for the same period in 2021, with year-over-year operator revenue 19.7% higher.
FanDuel and DraftKings, longtime competitors in the state's mobile wagering market, continue to lead the charge. FanDuel, the market leader in the parlay market, posted a handle of $61.5 million and a 11.9% win rate in July, generating $7.3 million in revenue. DraftKings, despite a close second in handle with $60.1 million, reported a 7.4% hold and $4.5 million in revenue for the month.
BetMGM, in third place for both handle and revenue, took in $3 million from a handle of $25.8 million with an 11.5% win rate. Barstool Sportsbook was the only other operator with a seven-figure handle and a double-digit win rate, reaching 10.6% and $730,000 in revenue.
Indiana's retail sportsbooks, both at casinos and racetracks, reported the highest monthly hold of the year at 16.3%, earning $2.1 million in revenue from $13.2 million wagered. The top three venues in handle for July had win rates of 17.9% or higher, with Ameristar in East Chicago (23.8%), Hollywood Lawrenceburg (21.1%), and the Winner's Circle in Clarksville (17.9%) leading the charge.
Overall, the Hoosier State's sports betting revenue for 2022 totaled approximately $387 million, with a 9.5% tax rate on operator revenue[2]. Major sportsbooks active in the state and typically dominating the market include FanDuel, DraftKings, BetMGM, Caesars, and PointsBet[4][5]. The specific sportsbook revenue rankings for July 2022 were not directly provided in the available data.
Wagerers in Indiana showed a keen interest in sports-betting parlay options, with FanDuel and DraftKings dominating the market, having the highest handles for the month of July. The odds for these parlay bets resulted in substantial revenue for both companies, with FanDuel generating $7.3 million and DraftKings earning $4.5 million.
The sportsbooks in Indiana saw an increase in the win rate for sports betting, with the state exceeding a 10% hold for the first time since November 2021, a significant consideration for those who wager on the odds offered by these establishments.
