In August, Indiana sportsbooks reported $32.1 million in adjusted gross sports betting revenue

On Thursday, the Indiana Gaming Commission reported $32.1 million in adjusted gross sports betting revenue. That number was boosted due to adjustments of close to $2.7 million in the operators’ favor. Additionally, revenue increased 36.3% compared to their figures from August 2023. Indiana saw a 29.3% rise in their handle to $307.9 million. That helped the Hoosier State go over $3 billion in accepted wagers in 2024. Indiana’s 10.4% hold when including adjustments marked the fourth consecutive month they had a double-digit hold. In five years of commercial sports wagering in Indiana, the state has generated $17.85 billion in all-time handle and $1.58 billion in adjusted gross sports betting revenue. The tax rate in Indiana is 9.5% has resulted in $149.9 million worth of levies since the state first started accepting wagers in 2019. In August, Indiana collected slightly more than $3 million in state taxes.

What Indiana sportsbooks were the most profitable in August?

In Indiana, the Gaming Commission does not explain in detail how adjustments are broken down between retail and mobile sportsbooks. However, Ameristar and Blue Chip are linked to DraftKings and FanDuel respectively. Blue Chip accounted for $2.2 million worth of adjustments while Ameristar accounted for $1.3 million. When factoring out adjustments from revenue totals, DraftKings was first for handle and revenue for the first time since November. The industry operator claimed $9.9 million in winnings from a $111.5 million handle. That was enough for an 8.9% win rate as they topped $100 million in revenue for 2024. For the first time since March, FanDuel had a hold of sub-10%. Their 9.9% hold came from $93.1 million worth of bets to collect $9.2 million in revenue. DraftKings had a significant $177.9 million gap with FanDuel in Indiana this past August.

While DraftKings led in handle, FanDuel was first with $12.6 million in revenue from a 12.2% hold and $934.4 million worth of wagers. BetMGM had a 9.8% win rate for the second straight month. That was enough for $3 million in revenue from a $30.8 million handle. Caesars Sportsbook was fourth in revenue in August with $16.8 million worth of bets with an 8.5% hold to claim $1.4 million in revenue.