Indiana sees Massive $170M in Sports Betting Handle in August
The state of Indiana and its sportsbooks have witnessed a crazy increase in all kinds of betting activity in the month of August. The update on the numbers has been provided by the Indiana Gaming Commission (IGC).
It shows that sportsbooks in the state had generated roughly $9.8 million in revenue from $169 million with sports bets for August. The operators also shelled out $934,314 in wagering taxes back to the state at the same time.
You can check out the details here:
Before the outbreak was ongoing in the U.S, Indiana had not posted larger numbers than these since back in February. Indiana’s sports betting revenue, handle, and tax numbers were the highest since that time.
The recent numbers also show off a significant month to month increase that was present in July. These numbers were roughly $6.7 million generated and $70.9 million wagered.
Taking into account the uptempo movements in August, the legal and regulated sportsbooks in the state also generated above $100 million in revenue and $1.20 billion in total stakes within the first 12 months of legal betting. This is the icing on the cake, as the state of Indiana is looking for more.
What These Numbers Mean
For August, online betting handles came out to $143.9 million for Indiana’s total handle. Land-based casinos pitched in $25.1 million to the total. In regard to revenue before any adjustments, sportsbooks came up with $12.5 million, with $10 million being from online and $2.5 million from land-based casinos.
Penn National Gaming’s Ameristar Casino and their partner DraftKings happened to contribute almost half of the state’s betting revenue for that month. They wound up handing in $4.9 million from $78.6 million in bets. Another example is Blue Chip Casino and FanDuel Sportsbook. They happened to have $50.8 million in bets and contributed $2.3 million in revenue.
Penn’s Hollywood Casino Lawrenceburg, with the popular PointsBet, came up with $1.1 million from $11.7 million in bets. To round out the rest of the top players, Belterra Casino and BetMGM came around $9.9 million in bets and was able to keep $743.982.
What Was Bet On
The timing of some of the major league US sports played a huge role in the state’s betting handle. For example, on July 30, the return of the NBA led to it being the most popular betting option with $55.2 million in handles.
MLB came in about seven days earlier, with sports bettors wagering $31 million. The NFL took a sack on this one, as there appeared to be a decline in betting activity with just $717,974.
Some other interesting options were that some other sporting events were able to hit $36.3 million. Also, wagers on parlay bets spiked to $43.6 million.
Sports Betting For Indiana
Indiana’s Governor, Eric Holcomb, put in place in May of 2019 for the HB 1015. This led to legalizing casinos and the ability for statewide mobile sports betting. So bettors could sign up to be able to access online sportsbooks remotely for betting, as long as you were located within the state.
Official online sports bets in Indiana took place on September 1, 2019. They were processed by the likes of some great names in the game such as Ameristar Casino Hotel East Chicago, the Hollywood Casino, and Hotel Lawrenceburg, and Indiana Grand Racing and Casino.
If you live in the state, you have a great selection of what sportsbook you want to choose. Top names include DraftKings, FanDuel, BetRivers, BetAmerica, PointsBet, and BetMGM.
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