In July, Indiana’s year-over-year sports betting handle raised 28%

In July, the Indiana Gaming Commission reported a monthly handle of $261.1 million. That is up 28% from the numbers they saw in July 2023. Indiana sportsbooks saw $29 million in adjusted gross revenue. That was a 25% year-over-year increase. This all happened while the WNBA was on break for players who were competing in the Olympics. That is why the state saw a 12.4% decrease in month-over-month handling. Caitlin Clark of the Indiana Fever has helped bring more fans to games and has increased wagers at retail and online sportsbooks. All operators in July shared an 11.1% hold. Revenue only dropped 4% compared to June. Finally, it was Indiana’s third month in a row with a double-digit hold.

Retail sportsbooks were profitable in July

Last month, online sports betting accounted for $254.7 million of the total amount wagered in Indiana. In-person casinos combined to generate a $6.2 million handle. They claimed $1 million in revenue thanks to a strong 16.4% hold. The state was able to collect $2.76 million, down slightly from the $2.9 million they saw in June. In July, DraftKings led all online operators with a handle of $94.4 million and a 10.4% hold. FanDuel had a 13.5% hold to generate $10.5 million in revenue from a $78 million handle.

BetMGM was third in July with a win rate just below 10%. They had $2.5 million in revenue from $25.4 million in handling, After a rough 4% hold in June, Caesars bounced back with a 10.3% win rate in July. Additionally, bet365 finished with a handle of over $13 million in July. Since launching in January, has accepted over $100 million in wagers. PENN Entertainment has been on the decline in Indiana over the last three months. In May, they saw $14 million in wagers, $9.8 million in June, and then $7 million in July.

Baseball was dominant in July

Baseball accounted for $73.8 million in wagers in July. The betting handle was down 11.6% from the numbers they saw in June. Indiana’s “others” category includes golf, tennis, soccer, and MMA. Ironically, the “others” led all categories with a handle of $80 million. Football is set to rise as the collegiate and NFL seasons approach. Finally, parlays generated $76.7 million worth of bets in July, down $88.1 million from June.