Indiana betting revenue and handle recover strongly in July
The Indiana Gaming Commission has reported the strongest month for the state’s sports betting market since February, with revenue and handle both soaring in July.
July marked the first full month in which the state’s casinos were open following the novel coronavirus (Covid-19) shut-down, which saw venues closed from March 16, and not reopened until June 15.
Amounts wagered more than doubled month-over-month to $70.9m, though online remained by far the biggest contributor to stakes growth despite a rising contribution from retail.
The month also saw contributions for the US major league sports grow strongly, with football stakes climbing to $1.2m. The biggest growth, however, was seen in baseball betting, with stakes jumping from $2.0m in June to $14.5m, following the return of Major League Baseball on July 23.
Basketball stakes also grew strongly, rising from June’s $618,166 to $5.8m ahead of the National Basketball Association’s return on July 30.
However betting on sports outside the major US leagues remained most popular, accounting for $33.4m of stakes, up 63.5% month-on-month.
After player winnings and adjustments, revenue for the month came to $6.7m, a 127.9% improvement on June’s $2.9m total.