Indiana Sports Betting Tops $3 Billion Handle in August

More than $300 million wagered through online sportsbooks in Indiana pushes the year-to-date online handle just south of $3 billion itself.

Grant Leonard - News Editor at Covers.com
Grant Leonard ? News Editor
Sep 15, 2024 ? 09:57 ET ? 4 min read
Photo By - USA TODAY Sports

Sports betting in Indiana took a turn for the better in August, with the Indiana Gaming Commission (IGC) reporting its highest sports wagering figures since May. 

Bettors in the Hoosier State wagered a total of $307.9 million while Indiana sports betting operators took home $32.1 million in revenue (10.42% hold). This marks the fifth month of the year where sportsbooks in Indiana have hit a double-digit hold percentage.

Handle beat out July’s $261.1 million by 17.9%, while revenue improved 10.4% month-over-month.

Total sports betting action has now eclipsed the $3 billion mark through the first eight months of 2024, which is 21% better than the same period last year. 

Year-to-date revenue also jumped 26.3% compared to the first eight months of 2023, with the $298.6 million falling just shy of $300 million.  

More than $3 million in tax contributions brought the year-to-date total to $28.4 million, which is $5.75 million better year-over-year. 

Retail sportsbooks in Indiana win big

Only $7.86 million was wagered through Indiana’s retail sportsbooks, but the in-person operators sure made the most of that relatively small piece of the pie thanks to a 21.35% win rate churning out $1.68 million in retail revenue. 

Retail sportsbooks in Indiana have held onto a 9.40% hold for their year-to-date performance, so August’s  was a significant gain. Overall, Indiana bettors have wagered $83.43 million this year at retail locations. 

Best online sportsbooks in Indiana

DraftKings came out on top in terms of handle and revenue for the first time since November 2023. 

It was the only operator to reach a nine-figure handle mark ($111.47 million) and finished with $9.86 million in revenue, but its rival FanDuel still came close in revenue ($9.24 million) despite having a slightly lower handle ($93.08 million).

BetMGM sits on an island in third place being the only sportsbook to hit $30 million. 

Caesars, bet365, and Fanatics rounded out the Top 6, all being within about $4 million in handle of one another.

ESPN BET, BetRivers, and Bally Bet were the only other Indiana sports betting operators to top $1 million in handle too.

Operator August Handle Revenue
DraftKings $111.47 million $9.86 million
FanDuel $93.08 million $9.24 million
BetMGM $30.8 million $3.03 million
Caesars $16.82 million $1.44 million
bet365 $14.8 million $1.1 million
Fanatics $12.68 million $1.09 million
ESPN BET $8.21 million $812,200
BetRivers $5.11 million $521,000
Bally Bet $1.85 million $169,900

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Grant Leonard - Covers
News Editor

Grant is a former junior B ice hockey player, and a current believer that the Washington Capitals¡¯ aging core still has another Cup run left in the tank. Grant¡¯s owned and operated his own marketing agency since shortly after graduating from Virginia Tech in 2014. He pursued the profession because he figured it¡¯d be a great way to get paid to do something he loves to do, write. After years of hammering puck lines and leading his fantasy football league as Commissioner, Grant started writing about sports betting and the casino gaming industry in 2021 and hasn¡¯t looked back.

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