Indiana’s sports betting market has continued to show promising signs of growth despite being one of the first state markets to open in the US.
Indiana retail and online sportsbooks generated $351.1 million in wagers and $45.3 million in adjusted gaming revenue in June, according to the Indiana Gaming Commission.
The handle represented a significant 17.7% year-over-year increase, while revenue surged a resounding 48.7%.
Another strong performance
Indiana sports betting launched in September 2019, well ahead of most states. Despite falling behind nearby powerhouses Illinois and Ohio in regard to handle and revenue, the Hoosier State has continually surpassed its previous marks.
June’s handle was more than $50 million higher than it was during the same time last year. DraftKings and Ameristar Casino played a significant role in that, reporting a market-leading $131.5 million in wagers and $16.1 million in taxable adjusted gaming revenue (AGR).
National leader FanDuel, a Blue Chip Casino partner, was second with $99.8 million in wagers. However, its higher hold percentage (15.5% compared to DraftKings' 12.2%) allowed it to claim $15.5 million in revenue.
Hollywood Lawrenceburg, which is partnered with ESPN Bet and Fanatics, posted a $33.6 million handle and $3.9 million in AGR. That represented more than $15 million more in total wagers and nearly $2 million more in AGR year-over-year.
Belterra Casino (BetMGM) reported $28.6 million in wagers and $3.5 million in AGR. French Lick Casino and partners bet365 and Fanatics rounded out the top five June performers with $25.3 million in handle and $2.9 million in AGR.
Indiana's retail casino sportsbooks and 11 online operators combined to contribute $4.3 million in gaming taxes. DraftKings and FanDuel contributed $3 million (69.5%) to the total.
Sportsbooks’ favorite?
According to the Indiana Gaming Commission (IGC), football ($2.7 million), basketball ($65.6 million), and baseball ($78.9 million) all fell below “other” sports ($95.4 million) in total betting handle. That’s despite the NBA’s Indiana Pacers making an unprecedented run to the NBA Finals, where they were defeated in seven games by the Oklahoma City Thunder.
The IGC also reported $108.7 million in ever-popular parlay bets.
In a time in which sportsbooks have become frustrated by increasing tax rates, Indiana remains one of the friendliest jurisdictions to its operators.
The state imposes just a 9.5% tax rate. Comparatively, New Hampshire, New York, and Rhode Island instituted a 51% rate. Based on Indiana’s June AGR total, a tax rate that high would have generated a whopping $23.1 million in state taxes.
Nearby Ohio launched its market with a 10% tax rate, then Gov. Mike DeWine doubled that to 20% in 2024.
Illinois started out with a 15%t tax rate when it opened its market in early 2020. That was raised to a sliding scale between 20% and 40% in 2024, and earlier this year, the state became the first to introduce a per-bet tax of $.25-50 depending on the number of accepted wagers a sportsbook reported.
Sports betting is legal and operational in 38 states and Washington D.C. Missouri has legalized sports betting and is expected to launch its market on Dec. 1.