Inside INdiana Business

Indiana sports betting dips in June

The Indiana Gaming Commission says the August 2020 "handle" for Indiana sports books reached $169 million, generating $934,000 in tax revenue. (photo courtesy: IIB)

INDIANAPOLIS (Inside INdiana Business) — Indiana’s sportsbooks saw a decrease in revenue last month as most major sports continue to be on hiatus. The state saw $29.8 million in sports wagers in June, down more than 20% from the previous month’s handle.

According to PlayIndiana.com, the state’s June total was $145 million why of what would have been expected had all summer sports been operating like normal. The gaming analysis website says the industry continues to inch forward with an uptick in futures betting, the reopening of casinos and sportsbooks, and major sports leagues resuming competition soon.

“June historically is a slow month for sports betting, but the return of major sports are huge for Indiana’s sportsbooks, obviously, and we already see the momentum with a boost in futures betting,” said Dustin Gouker, lead analyst for PlayIndiana.com. “A surge in betting should come as major sports move closer. In fact, with pent-up demand and truncated seasons that shorten the wait for a potential payout, futures betting could prove particularly enticing.”

French Lick Resort led the state for online wagers with $1.3 million, followed by Belterra Casino Resort in Florence with $1.1 million.

PlayIndiana says Hoosier casinos brought in nearly $560,000 from in-person wagers which, while a small amount, marks an “important milestone” toward recovery. Hollywood Hotel & Casino Lawrenceburg led the state with nearly $324,000 in in-person betting.

“The reopening of the retail market is important not only because it means significant new revenue for operators, but it also signals that the gaming industry is on the mend,” Gouker said. “Many challenges lie ahead for the industry, and the revenue lost can’t instantly be replaced. But things are headed in the right direction.”

You can read more on Indiana’s June sports betting handle by clicking here.

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