The Indiana Gaming Commission (IGC) released figures for the state’s sports betting market in May. Here’s a breakdown of the key takeaways:
Overall Performance:
- Indiana sportsbooks saw a slight decline in bets compared to April, with a total handle of $361 million.
- However, this still represents a significant increase (27.6%) compared to May 2023.
- Despite the dip in handle, good news came in the form of revenue. May’s sports betting revenue grew 5.1% from April and 15.4% year-over-year, reaching $39 million.
Taxes and Fan Favorites:
- Indiana sportsbooks contributed $3.7 million in taxes to the state in May.
- Basketball remained the most popular sport for Indiana bettors, attracting $97.2 million in wagers. This shows a strong year-on-year growth (35%) but a decrease compared to April (19.8%).
- Baseball followed closely with $73.7 million in bets, while football saw a much lower figure at $1.68 million. Interestingly, parlay bets were popular, bringing in an additional $102 million.
- Looking at year-to-date figures, basketball continues to reign supreme with over $1 billion wagered, followed by parlays ($1.6 billion), football ($661.4 million), and baseball ($368.7 million).
FanDuel Maintains Top Spot:
As expected, FanDuel, partnered with Blue Chip Casino, remained the market leader. They reported a handle of $112.3 million and revenue of $15.9 million. Blue Chip Casino also held the title of top taxpayer, contributing $1.5 million to the state.
Second Place and Beyond:
Ameristar Casino, partnered with DraftKings, came in second with a handle of $134 million and revenue of $12.7 million in May. Taxes paid amounted to $1.2 million.
Belterra Casino, another FanDuel partner, followed with $31.7 million in bets and $2.7 million in revenue. They paid $261,000 in taxes.
Illegal Gambling Bust:
In a separate development, two individuals were charged with operating an illegal online gambling website in Indiana. The alleged operation ran from July 2020 to November 2023, generating an estimated $1.7 million. They face potential prison sentences and financial penalties.
The Verdict:
May’s Indiana sports betting results were a mixed bag. While handle dipped compared to April, overall growth remains positive year-over-year. FanDuel solidified its leading position, and basketball continues to be the sport of choice for Indiana bettors. The illegal gambling bust highlights the importance of legal and regulated sports betting options.
