The Indiana Gaming Commission reported sports wagering revenue totaling $20.9 million for July, as operators posted a double-digit hold for just the seventh time since launch in August 2019.
The revenue figure represented a 32.5% increase from May’s year-low $15.8 million, as operator win rate spiked nearly four full percentage points. The 10.1% win rate marked the first time Indiana reported a hold of 10% or higher since a 10.3% mark last November that fueled a record $47.7 million monthly revenue haul.
The slower summer months, though, dulled some of the impact of operators doing well. The $206.6 million handle is the lowest in the Hoosier State since July 2021, when the $194.5 million generated was also the last time the state finished below $200 million. Indiana sportsbooks have accepted $2.5 billion in wagers through the first seven months of 2022 and more than $8.5 billion overall.
The state received $2 million in tax receipts for July, lifting the yearly total to $17.2 million. That is $2.5 million ahead of 2021’s pace for the same period, with year-over-year operator revenue 19.7% higher.
FanDuel, BetMGM, Barstool among big winners 2z2150
uly #SportsBetting numbers for #Indiana via IGC, a 🧵. Mobile/Retail Han/Rev/WR breakout
Mobile: $193.45M/$18.37M/9.49%
All Retail: $13.18M/$2.14M/16.26%
B/M Books: $9.18M/$1.57M/17.08%
Tracks+WC: $4M/$575.3K/14.37%3/x #GamblingTwitter
— Chris Altruda (@AlTruda73) August 12, 2022
parlay market — the $53.5 million in completed events handle represented 26.1% of the statewide total — has helped create separation when it comes to Indiana revenue.
FanDuel had an industry-leading 11.9% win rate in July, resulting in $7.3 million in revenue from a handle of $61.5 million. While DraftKings’ handle was a close second at $60.1 million, it claimed $4.5 million in revenue from a 7.4% hold. That pattern has played out most of the year for the eternal rivals — DraftKings has generated $11.5 million more handle than FanDuel this year, but FanDuel has amassed $17.4 million more in revenue, with FanDuel’s hold 2.5 percentage points higher at 8.7%.
BetMGM, which continues to hum along in third place for both handle and revenue, did so again in July with an 11.5% hold to take in $3 million from $25.8 million wagered. It also sured $300 million in handle for the year. Barstool Sportsbook was the only other operator with a seven-figure handle to post a double-digit win rate, reaching 10.6% as it took in $730,000 from more than $6.9 million worth of bets.
Unibet‘s solid year continued. The sportsbook won $444,000 from the public as its $1.6 million in revenue for the year has exceeded its revenue from 2020 and 2021 combined.
Brick-and-mortar bloodbath for bettors 2u6e4j
July #SportsBetting numbers for #Indiana via IGC, a 🧵. Top retail locations Han/Rev/WR (1/2)@HollywoodIND $4.59M/$966.9K/21.06%
Winners Circle (Clarksville) $1.6M/$286.1K/17.86%@AmeristarEC $1.18M/$280.6K/23.79%
8/x #GamblingTwitter
— Chris Altruda (@AlTruda73) August 12, 2022
Indiana’s retail sportsbooks, both at casinos and racetracks, had their best month of the year hold-wise at 16.3%, as they claimed $2.1 million in revenue from $13.2 million wagered. The top three venues in handle for July all 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.
The trio accepted $7.4 million in wagers and collected $1.5 million in revenue, with Hollywood Lawrenceburg pacing both categories with $4.6 million and $967,000, respectively. Casinos’ brick-and-mortar sportsbooks had a 17.1% hold for July, taking $1.6 million in revenue from $9.2 million handle. Lastly, racinos and three Winner’s Circle locations more than held their own with a 14.4% win rate, taking $575,300 from $4 million wagered.
