Hoosiers appeared to be more interested in traveling and getting outdoors in July than betting on sports.
PlayIndiana.com reported volume at Indiana’s sportsbooks slowed to less than $200 million for the first time in nearly a year, but volume still pushed the state’s lifetime handle past $4 billion — $3 billion of which has come over the last 12 months.
July’s slowdown came during what is historically the month with the lowest sports betting volume in the U.S., a pattern that continued even as the NBA Finals and the first week of the Olympics gave this July an unusually busy sports calendar, according to PlayIndiana.com, which tracks the state’s gaming industry.
“Sports betting is ultimately for entertainment, and this time of year it can take a backseat to long weekends at the lake or summer barbecues,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayIndiana.com. “With people traveling at an accelerated rate this summer, it appears that the trough is even more pronounced than usual.”
She said July should be the low point with football season around the corner.
Online and retail sportsbooks took in $194.5 million in bets in July, which was down 21% from $246.3 million in June, according to PlayIndiana.com’s analysis of state data.
Gross gaming revenue totaled $17.2 million in July, down 35.6% from $26.7 million, which equals an 8.9% hold. Adjusted gross revenue came in at $17.5 million, yielding $1.7 million in state taxes, PlayIndiana.com said.
Baseball topped all sports with $63.5 million in wagering, up from $60.5 million in June. The NBA Finals fueled $26.8 million in basketball betting in July, which was down from $77.1 million in June.
Basketball has generated $896.9 million in bets so far this year, more than any sport by far, and has been the most bet-on sport in every month since December 2020.
Since sports betting launched in Indiana in September 2019, the state’s sportsbooks have generated:
- $4.1 billion in online and retail wagering, including $3 billion since Aug. 2020
- $334.6 million in gross gaming revenue
- $31.8 million in state taxes.
“The market has changed significantly since launch, but from the beginning Indiana has punched above its weight class among U.S. markets,” Welman said. “It remains a model market that states still considering the legalization of sports betting would be wise to emulate.”
Indiana bettors made $174.6 million in online wagers in July, accounting for 89.8% of all bets made in the state. Retail betting accounted for the remaining $19.9 million in July, down from $27.9 million in June.
