Indiana Sports Betting Posts $254M in May Handle, Up 7.6%

Spread the Word:

Indiana sports betting has emerged from April slumber, witnessing a 7.6% increase to $254.4 million in May handle, compared to $236.4 million a month prior.

The modest growth was thanks to a few significant sporting events, including the NBA Playoffs and the Indianapolis 500. The addition of a few more sportsbooks in May also contributed to the growth.

According to numbers released Friday by the Indiana Gaming Commission, online sports betting accounted for nearly 92% ($234 million) of the total handle in May.

The Hoosier State has nine casinos and two racinos that provide sports betting.

Indiana sports betting had reported $348.2 million in January handle, its highest monthly handle since the industry’s launch in Sept. 2019.

Revenue Details

While Indiana sports betting activity increased last month, revenue did not see a proportional growth. In May, taxable adjusted gross revenue (AGR) declined for the Indiana sportsbooks. It was $18.9 million, down 6.1% from April’s AGR of $20.1 million.

The declining taxable AGR inevitably shrank the state’s share in tax to $1.79 million in May, dipping 6.1% from April’s $1.91 million.

Basketball Attracted Most Bets

Basketball was the favorite sport among Indiana bettors, who wagered $82 million on the game throughout May. NBA Playoffs were a major reason that swelled basketball handle for the month.

Baseball was the second-most wager-on sport, attracting $50.5 million worth of bets.

Parlay reported $62 million worth of bets, while Other drew $51.5 million for the month.

Football saw $1.4 million in handle in May.

DraftKings and FanDuel Neck and Neck

DraftKings and FanDuel are neck and neck in Indiana sports betting, with the Boston-based DraftKings leading in overall handle this year, while New York-based FanDuel racking up more revenue.

Hoosiers have wagered more than $500 million with DraftKings during the first five months of this year, while FanDuel has attracted nearly $400 million in handle during the same time.

But FanDuel’s $25 million of revenue between January and May is $4 million more than what DraftKings reported during the same period.

Was May Any Different?

No. May reflected the same trend that was witnessed during the first four months. DraftKings – partnered with Ameristar Casino – reported the largest handle, $81.8 million, and gross receipts of $2.94 million.

FanDuel appeared to chase its biggest rival and reported $79.3 million in handle, with gross receipts of $7.63 million.

BetMGM – the third-largest player in US online sports betting – reported a handle of $29.34 million and gross receipts of $2.52 million.

Another significant change in Indiana sports betting was the entry of Barstool Sportsbook on May 18. The sportsbook was available for barely two weeks, and it still managed to amass a $6.3 million handle, and become the seventh-largest betting app in the Hoosier State.

If the Barstool Sportsbook repeats the same trend in June, it will become the fourth-most popular sportsbook in Indiana after DraftKings, FanDuel, and BetMGM.

Australia-based PointsBet reported $11.3 million in handle, and $1 million in gross receipts.

How Indiana Market Will Fare in Coming Months?

Slow months are coming ahead. Since the NFL season and March Madness has gone, the lack of sports betting options has resulted in shrinking handles.

Indiana has suffered an almost 20% decrease since March’s $316 million, and though the summer will continue to show the same trend, the Hoosier State might enjoy some exception, thanks to the Indy 500. The annual automobile race is unique to Indiana, and the state’s sports betting market extracts extra benefits and traffic, thanks to the event.

In addition, the entrance of Barstool and Betway also has increased options for Indiana bettors to choose from among a dozen online sportsbooks in the state. Betway launched more recently on May 28.

Related News

Hard Rock Casino Gary
August 17, 2021

Indiana Sees $3bn in Sports Betting Handle in Last 12 Months

Though the summer slump pushed Indiana sports betting handle to below $200 million for the first time in almost a year, the state saw $3 billion since July 2020. The […]

read more
Barstool retail sportsbook
May 23, 2021

Barstool Sportsbook Launches in Indiana Online Sports Betting Market

Barstool Sportsbook launched its online sports betting app Tuesday in the Indiana sports betting market, ahead of the NBA playoffs and the Indianapolis 500. Penn National Gaming had announced the […]

read more
July 15, 2021

Basketball Keeps Indiana Sports Betting Afloat in June With $246M Handle

Indiana sports betting kept afloat amid the peak of the summer slump as it reported $246 million in June handle, down 3.2% from May’s $254.4 million. Basketball betting and the […]

read more
April 8, 2022

Indiana Online Casinos

Playing at online casinos in Indiana is illegal and there are no regulated sites in the state. However, a few steps were taken towards legalizing the industry in 2020 by […]

read more
February 15, 2021

Indiana Welcomes January With Record Sports Betting Handle of $348M

While building on its sports betting records for the fifth straight month, Indiana posted a handle of more than $348 million in January. According to state figures released Friday by […]

read more
Indiana city skyline
August 24, 2021

Indiana Regulators Approve Caesars Southern Indiana $250M Sale

The Indiana Gaming Commission has approved the $250 million sale of Caesars Southern Indiana casino to North Carolina-based EBCI Holdings. The decision was taken at the commission’s public business meeting […]

read more
January 20, 2020

Indiana Charitable Gaming Laws

Indiana CHARITY GAMING IC 4-32.2-1 Chapter 1. General Provisions IC 4-32.2-1-1 Application of article Sec. 1. (a) This article applies only to a qualified organization.(b) This article applies only to […]

read more
Indiana city skyline
May 17, 2021

Indiana Sports Betting Tops $1bn in First Four Months of 2021

Indiana sports betting has topped the $1 billion mark in the first four months of this year despite a 25% decline in April’s handle. The Hoosier State saw a huge […]

read more
NCAA March Madness 2021
April 13, 2021

Indiana Sports Betting Posts Basketball-boosted $316.7M in March

Indiana sports betting recovered from a sluggish February, with a 15% jump to $316.7 million in handle in March. February brought dips in handle across the entire US market thanks […]

read more
January 16, 2021

Indiana Becomes Fifth State to Ever Cross $300M Monthly Handle in December

Indiana has become the fifth US state to ever cross $300 million in monthly sports betting handle with its record-breaking handle in December. The Hoosier State also concluded 2020 with […]

read more
Indiana Hoosiers helmets
March 15, 2021

Indiana Sports Betting Streak Ends as February’s Handle Dips 21%

February has ended Indiana sports betting’s five-month streak of record-setting handles, nosediving 21.4% to $273.9 million for the month. The Hoosier State saw the biggest month in January, which brought […]

read more
April 8, 2022

Indiana Online Sports Betting

Online sports betting is now live in Indiana, with state-wide mobile betting launching in October 2019, meaning there are plenty of opportunities to bet on your favorite sports online. Today, […]

read more

Stay Updated & Receive Exclusive Offers

Be the first to know when new states legalize online gambling and gain access to exclusive casino and sports betting promotional offers.