Indiana sports betting has crossed $1 billion in accepted wagers since its launch in October 2019 in a much-awaited rebound that was achieved in July.
Like many state-regulated industries, sports betting in the state of Indiana needed a bounce-back after months of the economic downturn due to the COVID-19.
Indiana sportsbooks added $70.9 million in handle in July, totaling for $1. 03 billion in the betting industry’s ten months of existence in the state. During that period, operators combined for roughly $85 million in revenue, extracting $8.1 million in tax revenues.
Undoubtedly, the return of the MLB and NBA at the end of July helped the month’s total, reflecting a huge 137.9% spike from the month’s handle.
Indiana was not alone in witnessing the downturn in wagers accepted; all the states across the country suffered significantly due to the pandemic-led shutdowns. In the Hoosier State, three months following the closures from March to June totaled just over $168.2 million in wagers placed. Before that, only February’s total was $187 million in handle.
Considering the figures during and before the pandemic-led closures, Indiana seems to witness a significant surge in July. According to estimates, the state lost out on a projected $700 million in potential wagers during the pandemic months.
What’s DraftKings Sportsbook Up to in Illinois
Currently, Illinois has two online sportsbooks. After rebranding, DraftKings at Casino Queen launched its legal sports betting operations in the Land of Lincoln, paving the way for DraftKings Sportsbook to penetrate in the state’s online betting arena.
However, the timing comes during an unfavorable time in terms of bettor registration.
Governor J.B. Pritzker, who had briefly lifted the state requirement for in-person registration, has since reinstated the condition. It will remain in place until fall 2021 when Illinois will approve the first online-only licenses.
However, DraftKings found its way against all the odds to make its presence felt by bringing along its fast-expanding sportsbook.
BetMGM Becomes Official Partner of PGA Tour
Soon after collaborating with DraftKings Sportsbook, the PGA Tour has announced BetMGM for a similar role as its official betting operator.
The multiyear deal will allow BetMGM to use tour logos in marketing and betting-related programming across its betting platforms. Besides, the operators will be authorized to distribute highlights to consumers who placed bets.
Before PGA, the BetMGM operators have sponsorships with various golfers, including Jimmy Walker, Pat Perez, Kevin Na, Boo Weekley, and Ryan Moore.
Perhaps, this is the time of year that legal sports betting operators had been waiting for after months of inactivity in the industry.